Eric Hagen

Kenneth Lee

Bose George

Crispin Love

Douglas Harter

Giuliano Anderes-Bologna

Jason Weaver

Jay McCanless

Matthew Order

Randy Binner

Stephen Laws

Trevor Cranston

Doug Harter

Randolph Binner

- Rithm Capital announced the acquisition of **Paramount Group Inc.** for **$1.6 billion**, or **$6.60 per share**, with a target closing in **late Q4**.  **[1556593_2146126_2]** 
- The acquisition includes **13 owned and four managed high-quality Class A office assets** in New York City and San Francisco, totaling over **13 million square feet**, with **85% leased** as of the end of June.  **[1556593_2146126_2]** **[1556593_2146126_3]** 
- The transaction is structured as a balance sheet-light deal, with Rithm's equity check estimated between **$300 million and $500 million**, leveraging **$490 million** of Paramount's cash and liquidity, and involving third-party capital.  **[1556593_2146126_1]** **[1556593_2146126_2]** 
- Rithm views this as an opportunity to acquire assets at a **discount to book value** and **40% below pre-COVID levels**, believing office values troughed in 2024 and are now increasing, with no impact expected on Rithm's dividend.  **[1556593_2146126_1]** **[1556593_2146126_2]** **[1556593_2146126_4]** **[1556593_2146126_6]**

Rithm Capital Announces Acquisition of Paramount Group Inc.

- **Rithm Capital** announced its intent to acquire **Paramount Group, Inc. (NYSE: PGRE)**, a premier office REIT.  **[1556593_2146107:0]** **[1556593_2146107:8]** 
- The acquisition is for **cash consideration of ~$1.6 billion**, valued at **$6.60 per fully diluted share** of Paramount common stock.  **[1556593_2146107:8]** 
- Paramount's portfolio includes **13 owned and 4 managed Class A office properties** in New York City and San Francisco, totaling **more than 13.1 million square feet**, with **85.4% leased** as of June 30, 2025.  **[1556593_2146107:8]** 
- The transaction is targeted to close in **late Q4'25**, subject to customary closing conditions and Paramount shareholder approval.  **[1556593_2146107:8]** 
- Funding is expected to be sourced from excess cash from Paramount's balance sheet, cash and liquidity from Rithm's balance sheet, and potential opportunities from co-investors.  **[1556593_2146107:8]**

Rithm Capital to Acquire Paramount Group, Inc.

- **Rithm Capital Corp.** announced on **September 17, 2025**, a definitive agreement to acquire **Paramount Group, Inc.** for a total cash consideration of approximately **$1.6 billion**.  **[1556593_0001140361-25-035193_ef20055678_ex99-1.htm:0]** **[1556593_0001140361-25-035193_ef20055678_ex2-1.htm:0]** **[1556593_0001140361-25-035193_ef20055678_ex2-1.htm:5]** 
- Under the terms of the agreement, Rithm will acquire all outstanding shares of Paramount common stock for **$6.60 per fully diluted share**.  **[1556593_0001140361-25-035193_ef20055678_ex99-1.htm:0]** 
- The acquisition will expand Rithm's commercial real estate footprint with Paramount's portfolio of **13 owned and 4 managed Class A office assets**, totaling **over 13.1 million square feet**, which were **85.4% leased as of June 30, 2025**.  **[1556593_0001140361-25-035193_ef20055678_ex99-1.htm:0]** 
- The transaction is expected to close in **late Q4 2025**.  **[1556593_0001140361-25-035193_ef20055678_ex99-1.htm:0]**

Rithm Capital to Acquire Paramount Group

Rithm Capital (RITM)