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Rithm Capital bets on office space recovery with $1.6 billion Paramount Group deal
Yahoo Finance·2025-09-17 19:51

(Reuters) - Global asset manager Rithm Capital on Wednesday said it had agreed to acquire real estate investment trust Paramount Group for 1.6billionincash,bettingonareboundinofficerealestate.TheoffervaluesNewYorkCitybasedParamountGroupat1.6 billion in cash, betting on a rebound in office real estate. The offer values New York City-based Paramount Group at 6.60 per share, repenting a 10.7% discount to the stock's last closing price. Shares of Paramount fell 11.8% in premarket trading. The deal comes as investors gauge whether the U.S. office market, hit hard by rising interest rates, remote work an ...