Rithm's $1.6B Paramount Play Signal Big City Comeback, Shares React

Key Takeaways Rithm Capital will buy Paramount Group for $1.6B in cash, expanding into office real estate ownership.Paramount shareholders get$ 6.60 per share, a discount to its prior $7.39 close, sending shares down 11.6%.The deal adds 13.1M sq. ft. of Class A office assets in New York and San Francisco, 85.4% leased as of June.Rithm Capital Corp. (RITM) has agreed to acquire vertically-integrated real estate investment trust, Paramount Group, Inc. (PGRE) , for around$ 1.6 billion in cash. Paramount is a w ...