What we know about Rithm’s surprise $1.6B deal to buy Paramount
Rithm Capital’s deal to buy Paramount Group for $1.6 billion came as a bit of a surprise. After bids from Blackstone, SL Green and Empire State Realty Trust, it was Rithm, a lesser-known but still deep-pocketed asset manager with a focus on mortgage servicing, that came out on top. The company is set to take on Paramount’s 13 million square feet of office space in New York and San Francisco at a 40 percent discount to its book value. “We’ve been very patient in the office sector, and we believe now is the right time to do so,” said Rithm […]
This article originally appeared on The Real Deal. Click here to read the full story.
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