Sep. 17 at 12:40 PM
Paramount Group agreed to be acquired by Rithm Capital in an all-cash
$1.6B deal at
$6.60 per share, a steep discount to its prior
$7.39 close, sending shares lower. The deal gives Rithm 13 owned and 4 managed Class A office properties in New York and San Francisco, totaling 13.1M sq. ft., 85.4% leased as of June 30. Paramount’s board said the agreement delivers fair and immediate value, despite the lower price. Rithm will fund the purchase with cash and potential co-investments, calling it a “generational opportunity.” Closing is expected in Q4 2025 pending shareholder and regulatory approvals.
$PGRE $RITM