Purchasing Paramount: Meet Rithm Capital’s Michael Nierenberg
Michael Nierenberg knows how to get a steal on a real estate deal — professionally and personally. His Rithm Capital agreed on Sept. 17 to acquire Paramount Group for $1.6 billion, a rare entrance into the commercial real estate market with Class A office space at a low entry point as the Federal Reserve was expected to — and did — lower interest rates. One of the largest U.S. mortgage servicers, Rithm announced the news after The Real Deal and other outlets reported it was in the lead to acquire New York-based Paramount. The sale, subject to shareholder approval, is […]
This article originally appeared on The Real Deal. Click here to read the full story.
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