PGRE - Mergers and acquisitions

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today it has earned a GRESB 5 Star rating, the highest possible recognition, for the seventh consecutive year. These results underscore the Company's continued commitment to transparency and improved resilience, efficiency, and performance. The Company was distinguished by scoring in the top 20% of over 2,350 global real estate participants. Within the GRESB subset of Office / Americas respondents, Paramount also outperformed 55 out of 68 companies. The GRESB Assessments are guided by what investors and the industry consider to be the most important issues in the performance of asset investments and are aligned wit

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today the successful completion of a $900 million refinancing of 1301 Avenue of the Americas, a 1.8 million square-foot Class A office building, located between 52nd and 53rd Streets in the heart of Midtown Manhattan. The refinancing was supported by recent leasing momentum, which brought leased occupancy to over 97%, a reflection of the building's leading market position. The new five-year, interest-only loan carries a fixed rate of 6.39% and matures in August 2030. Net proceeds from the refinancing will be used primarily to repay the existing $860 million loan that was scheduled to mature in August of 2026 and fu

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that its Board of Directors has initiated a review and evaluation of strategic alternatives to maximize shareholder value. The announcement follows a successful first quarter marked by strong leasing activity. Albert Behler, Chairman, Chief Executive Officer and President, said, "As Paramount continues to build on the strong leasing momentum from the first quarter, the Board and management team remain focused on closing the persistent gap between the Company's public market valuation and our assessment of its intrinsic value. We are committed to acting in the best interests of our shareholders as we evaluate a

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it has sold a 25% interest in One Front Street, a 649,000 square foot Class A office building located on the corner of Front and Market Streets in San Francisco, at a gross asset valuation of $255 million. Paramount will continue to own the remaining 75% interest and manage and lease the property. As part of the transaction, Paramount has provided $40.5 million of seller financing for a two-year term at a fixed rate of 5.50%. The Company retained net proceeds of $11.5 million from the sale, after transaction and other costs. "We are excited to announce the sale of this minority interest in One Front Stree

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it has signed a 121,000 square foot, 16.5 year lease with Benesch, Friedlander, Coplan & Aronoff LLP ("Benesch") at 1301 Avenue of the Americas, a 1.8 million square-foot Class A office building, located between 52nd and 53rd Streets in Midtown Manhattan. Of the 121,000 square feet, approximately 30,000 square feet is short term. "We are proud to welcome Benesch to 1301 Avenue of the Americas," said Douglas Neye, Senior Vice President. "This significant commitment is a testament to the building's many appealing attributes and another example of the New York office market's resurgence. By joining our tenan

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it has sold a 45% interest in 900 Third Avenue, a 600,000 square foot Class A office building located on Third Avenue between 54th and 55th Streets in Midtown Manhattan, at a gross asset valuation of $210 million. Paramount will continue to own the remaining 55% interest and manage and lease the property. "We are excited to announce the sale of this non-controlling interest in 900 Third. This transaction underscores the underappreciated value of our assets in the market," said Albert Behler, Chairman, Chief Executive Officer & President of Paramount. "Furthermore, this deal strengthens our balance sheet

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") today announced the 2024 tax treatment of its common stock dividends as described below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Paramount's dividends. Common Shares (CUSIP #69924R108) Record Date   Payable Date   Total Dividends Per Share     Total Dividends Allocable to 2024     2024 Taxable Ordinary Dividends (1)     Total Capital Gain Distribution     Total Section 1250 Unrecaptured Gain     2024 Non-taxable Dividend (Return of Capital)

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it achieved a 5 Star rating in the 2024 GRESB Real Estate Assessment. This is the sixth consecutive year Paramount was awarded GRESB's highest rating. The Company was a top performer among over 2,200 global real estate participants and received "Sector Leader" status within the Office/Americas category. The GRESB Sector Leaders are distinguished as the best performers by sector, region, and nature of ownership from across the GRESB Assessments. "Achieving GRESB's highest accolades, outperforming the GRESB average score by 21%, and improving upon our 2023 score validates the effectiveness of our ESG str

Paramount Group, Inc. (NYSE:PGRE) ("Paramount") announced today that its board of directors suspended the Company's regular quarterly dividend that would have otherwise been payable on October 15, 2024. During 2024, Paramount paid three regular quarterly dividends aggregating $0.1050 per share of common stock, which approximates 100% of its estimated 2024 taxable income. Albert Behler, Chairman, Chief Executive Officer and President of Paramount commented, "The decision by our Board of Directors to suspend our regular quarterly dividend aligns with our commitment to fortify our balance sheet and maintain the utmost financial flexibility." About Paramount Group, Inc. Headquartered in New

Paramount Group, Inc. (NYSE:PGRE) ("Paramount") announced today that its board of directors has declared a regular quarterly cash dividend of $0.035 per share of common stock for the period from April 1, 2024 to June 30, 2024. The dividend will be payable on July 15, 2024, to stockholders of record as of the close of business on June 28, 2024. About Paramount Group, Inc. Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused on maximiz

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") is proud to announce that it has achieved the 2024 ENERGY STAR Partner of the Year Award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy. Paramount was honored among a select group of organizations for the company's contributions to energy efficiency and the transition to a clean energy economy. ENERGY STAR award winners are recognized for demonstrating sustainability excellence in their respective industries. This year, Paramount achieved ENERGY STAR labels across 100% of its office portfolio, spanning 11.3 million square feet. The company's longstanding commitment to ENERGY STAR has yi

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it has signed a 74,000 square foot lease with Citizens at 1301 Avenue of the Americas, a 1.7 million square-foot Class A office building, located between 52nd and 53rd Streets in Midtown Manhattan. With this lease signing, the Company has made further progress leasing vacant space at 1301 Avenue of the Americas. "We are delighted to welcome Citizens Bank to 1301 Avenue of the Americas as the latest addition to Paramount's world class tenant roster," said Peter Brindley, Executive Vice President, Head of Real Estate. "This new lease builds on the momentum of recent leasing activity along Avenue of the A

Paramount Group, Inc. (NYSE:PGRE) ("Paramount") announced today that its board of directors has declared a regular quarterly cash dividend of $0.035 per share of common stock for the period from January 1, 2024 to March 31, 2024. The dividend will be payable on April 15, 2024, to stockholders of record as of the close of business on March 28, 2024. About Paramount Group, Inc. Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused on ma

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that, together with its joint venture partner, it has modified and extended the existing mortgage loan at One Market Plaza, a 1.6 million square-foot two-building trophy asset in the South Financial District of San Francisco. The existing $975 million loan, which bears interest at a fixed rate of 4.03%, was scheduled to mature on February 6, 2024. In connection with the modification, the loan balance was reduced to $850 million, following a $125 million paydown by the joint venture. The modified loan bears interest at a fixed rate of 4.08% and matures in February 2027 and has an option to extend for an additi

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") today announced the 2023 tax treatment of its common stock dividends as described below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Paramount's dividends. Common Shares (CUSIP #69924R108) Record Date   Payable Date   Total Dividends Per Share     Total Dividends Allocable to 2023     2023 Taxable Ordinary Dividends (1)     Total Capital Gain Distribution     Total Section 1250 Unrecaptured Gain (2)     2023 Non-taxable Dividend (Return of Capi

Paramount Group, Inc. (NYSE:PGRE) ("Paramount") announced today that its board of directors has declared a regular quarterly cash dividend of $0.035 per share of common stock for the period from October 1, 2023 to December 31, 2023. The dividend will be payable on January 12, 2024, to stockholders of record as of the close of business on December 29, 2023. About Paramount Group, Inc. Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focus

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it achieved a 5 Star rating in the 2023 GRESB Real Estate Assessment. Maintaining the highest GRESB rating for the fifth consecutive year is an impressive feat, especially given that survey participation increased in 2023 by 15% to include 2,084 listed and non-listed portfolios across 75 countries. Paramount was a top performer within both the Management and Performance scoring categories from the GRESB module. "We are proud of the company's 2023 results, as we outperformed the GRESB peer score by 6% and the GRESB average score by 18%," said Wilbur Paes, Paramount's Chief Operating Officer, Chief Financi

Paramount Group, Inc. (NYSE:PGRE) ("Paramount") announced today that its board of directors has declared a regular quarterly cash dividend of $0.035 per share of common stock for the period from July 1, 2023 to September 30, 2023. The dividend will be payable on October 13, 2023, to stockholders of record as of the close of business on September 29, 2023. About Paramount Group, Inc. Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focuse

Paramount Group, Inc. (NYSE:PGRE) ("Paramount") announced today that its board of directors has declared a reduced quarterly cash dividend of $0.035 per share of common stock (a new indicated annual rate of $0.14 per share), for the period from April 1, 2023 to June 30, 2023. The dividend will be payable on July 14, 2023, to stockholders of record as of the close of business on June 30, 2023. The reduced dividend will enable Paramount to retain an additional $40 million of cash annually, further enhancing Paramount's already strong financial position. About Paramount Group, Inc. Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that

– Reduces largest 2024 lease expiration by approximately 30% – Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it signed a 16.5-year, 119,000 square foot lease with Wilson Sonsini Goodrich & Rosati ("Wilson Sonsini"), an internationally acclaimed law firm, at 31 West 52nd Street, a 768,000 square-foot trophy office building, located in Midtown Manhattan. Wilson Sonsini will occupy floors 5 through 8 currently leased to Clifford Chance LLP that is scheduled to expire in June 2024 and floor 9, which is currently vacant. With the signing of this lease, Paramount has further expanded its relationship with Wilson Sonsini and has meaningfully de-risked it

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") is proud to announce that it has achieved the 2023 ENERGY STAR Partner of the Year Award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy. Paramount was selected from a network of thousands of ENERGY STAR partners, distinguishing the Company as a leader in the sustainability space. Winners of this award are recognized for growing the number of ENERGY STAR certified properties, demonstrating a commitment to sustainability, and integrating best practices throughout their organizations. This year, Paramount achieved ENERGY STAR labels across 100% of its office portfolio, spanning 11.3 million

Paramount Group, Inc. (NYSE:PGRE) ("Paramount") announced today that its board of directors has declared a regular quarterly cash dividend of $0.0775 per share of common stock for the period from January 1, 2023 to March 31, 2023. The dividend will be payable on April 14, 2023, to stockholders of record as of the close of business on March 31, 2023. About Paramount Group, Inc. Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused on max

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") today announced the 2022 tax treatment of its common stock dividends as described below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Paramount's dividends. Common Shares (CUSIP #69924R108) Record Date   Payable Date   Total Dividends Per Share     Total Dividends Allocable to 2022     2022 Taxable Ordinary Dividends (1)     Total Capital Gain Distribution     Total Section 1250 Unrecaptured Gain (2)     2022 Non-taxable Dividend (Return of Capital)   12/31/2021   01/14/2022   $ 0

Paramount Group, Inc. (NYSE:PGRE) ("Paramount") announced today that its board of directors has declared a regular quarterly cash dividend of $0.0775 per share of common stock for the period from October 1, 2022 to December 31, 2022. The dividend will be payable on January 13, 2023, to stockholders of record as of the close of business on December 30, 2022. About Paramount Group, Inc. Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focuse

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it achieved a 5 Star rating in the 2022 GRESB Real Estate Assessment. This is the highest GRESB rating that distinguishes Paramount's ESG performance in the top 20% among the 1,820 entities that responded globally. Benchmarked against 150,000 assets across 74 countries, these results demonstrate Paramount's position as a leader in the real estate industry. Paramount was able to maintain its market-leading performance despite a 20% growth in participation and a drop in average GRESB score within the Americas region during the 2022 assessment cycle. Additionally, Paramount outpaced the GRESB average score b

Paramount Group, Inc. (NYSE:PGRE) ("Paramount") announced today that its board of directors has declared a regular quarterly cash dividend of $0.0775 per share of common stock for the period from July 1, 2022 to September 30, 2022. The dividend will be payable on October 14, 2022, to stockholders of record as of the close of business on September 30, 2022. About Paramount Group, Inc. Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it signed a 15-year, 142,000 square foot lease with O'Melveny & Myers LLP ("OMM"), an internationally acclaimed law firm, at 1301 Avenue of the Americas, a 1.7 million square-foot trophy office building, located between 52nd and 53rd Streets in Midtown Manhattan. "We are proud to welcome OMM to 1301 Avenue of the Americas. This significant transaction exemplifies the appeal of 1301 Avenue of the Americas, which continues to attract today's most discerning tenants," said Peter Brindley, Executive Vice President, Head of Real Estate. The 142,000 square foot lease encompassing floors 17 through 20 is curren

Paramount Group, Inc. (NYSE:PGRE) ("Paramount") announced today that its board of directors has declared a regular quarterly cash dividend of $0.0775 per share of common stock for the period from April 1, 2022 to June 30, 2022. The dividend will be payable on July 15, 2022, to stockholders of record as of the close of business on June 30, 2022. About Paramount Group, Inc. Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused on maximizin

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that SVB Securities, a subsidiary of SVB and a leading investment bank specializing in healthcare and technology, has expanded at 1301 Avenue of the Americas signing a 68,183 square foot lease for the entire 5th floor. This lease increases SVB Securities' commitment at 1301 Avenue of the Americas to 139,176 square feet. 1301 Avenue of the Americas is a 1.7 million square-foot trophy office building, located between 52nd and 53rd Streets in Midtown Manhattan. "We are delighted that SVB Securities has once again chosen 1301 Avenue of the Americas to satisfy their occupancy needs as the company continues to execu

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") is proud to announce that it has achieved the 2022 ENERGY STAR Partner of the Year Award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy. Winners of this coveted award are selected from a network of thousands of ENERGY STAR partners and are recognized for demonstrating superior leadership, innovation, and commitment to sustainability. ENERGY STAR is at the forefront of Paramount's energy efficiency strategy and helps advance the company's mission to reduce the portfolio's environmental footprint. In 2021, Paramount achieved ENERGY STAR labels across 100% of its office portfolio, spanning

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that 111 Sutter Street has achieved LEED (Leadership in Energy and Environmental Design) Platinum and was San Francisco's highest scoring LEED Project in 2021. The USGBC's (U.S. Green Building Council) LEED certification is among the most esteemed sustainable building recognition programs globally. "111 Sutter's distinguished LEED achievement is a testament to our continuous dedication to sustainability and responsible building operations," said Wilbur Paes, Paramount's Chief Operating Officer, Chief Financial Officer and Treasurer. "We are extremely proud that we consistently deliver this same level of excell

Proposal Significantly Undervalues Paramount and is Not in the Best Interest of Stockholders Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") today announced that its Board of Directors has unanimously rejected an unsolicited, non-binding proposal received from Monarch Alternative Capital LP ("Monarch") to acquire all of the Company's outstanding common stock for $12.00 per share in cash. Consistent with its fiduciary duties, Paramount's Board of Directors conducted a thorough review of the proposal in consultation with its independent financial and legal advisors. Following this comprehensive review, the Board unanimously determined that the proposal significantly underva

Paramount Group, Inc. (NYSE:PGRE) ("Paramount") announced today that its board of directors has declared an increased quarterly cash dividend of $0.0775 per share of common stock, representing a 10.7% increase over last quarter's cash dividend of $0.07 per share of common stock. The quarterly cash dividend of $0.0775 per share of common stock is for the period from January 1, 2022 to March 31, 2022 and will be payable on April 15, 2022 to stockholders of record as of the close of business on March 31, 2022. About Paramount Group, Inc. Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelo

Paramount Stockholders Do Not Need to Take Action at This Time Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") today confirmed that it has received an unsolicited, non-binding proposal from Monarch Alternative Capital LP to acquire all of the Company's outstanding common stock for $12.00 per share in cash. Consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, the Paramount Board of Directors will carefully review the unsolicited proposal to determine the course of action that it believes is in the best interest of the Company and all Paramount stockholders. Paramount stockholders do not need to take any action at this

Bayerische Versorgungskammer ("BVK") and Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that they have formed a joint venture and acquired a retail condominium at 1600 Broadway for $191.5 million from Sherwood Equities. The 26,000 square foot retail property, which is located in the heart of Times Square, is 100% leased to Mars, Inc. and serves as the flagship location for M&M's World. In connection with the acquisition, the joint venture obtained a 10-year, $98.0 million interest-only loan that has a fixed rate of 3.45%. Paramount owns a 9.2% stake in the property and will serve as the manager of the asset. This acquisition marks the second time Paramount

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that world-renowned restaurant Din Tai Fung has signed a 15-year lease covering approximately 26,400 square feet for its Michelin Star rated restaurant at 1633 Broadway, Paramount's 48-story, 2.5 million square foot, trophy office tower located between 50th and 51st Street in Midtown Manhattan. Din Tai Fung will occupy the retail space situated beneath the glass entry cube in the public plaza at the base of 1633 Broadway. The restaurant, currently being designed by David Rockwell and his award-winning architecture and design firm Rockwell Group, is slated to open in 2023 and is expected to be a culinary destin

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it has achieved 2021 ENERGY STAR labels across 100% of its office portfolio, spanning 11.3 million square feet. The U.S. Environmental Protection Agency's (EPA's) ENERGY STAR certification signifies that Paramount's assets perform within the top 25 percent for energy efficiency when compared to similar buildings nationwide. Paramount also achieved the ENERGY STAR Tenant Space Recognition at 1325 Avenue of the Americas and is committed to partner with its tenants to encourage the adoption of the ENERGY STAR Tenant Space program within their own offices in 2022. "Prioritizing energy efficiency is fundament

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") today announced the 2021 tax treatment of its common stock dividends as described below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Paramount's dividends. Common Shares (CUSIP #69924R108) Record Date   Payable Date   Total Dividends Per Share     Total Dividends Allocable to 2021     2021 Taxable Ordinary Dividends (1)     Total Capital Gain Distribution     Total Section 1250 Unrecaptured Gain (2)     2021 Non-taxable Dividend (Return of Capital) 12/31/2020   01/15/2021   $ 0.0700

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it has refinanced its existing senior unsecured revolving credit facility with a new $750 million senior unsecured revolving credit facility that matures in March 2026, with two six-month extension options. The interest rate on the new facility is 115 basis points over the secured overnight financing rate (SOFR) with adjustments based on the term of advances, plus a facility fee of 20 basis points. "The refinancing of this facility once again underscores the confidence leading financial institutions have in our platform," said Wilbur Paes, Paramount's Chief Operating Officer, Chief Financial Officer, and

Paramount Group, Inc. (NYSE:PGRE) ("Paramount") announced today that its board of directors has declared a regular quarterly cash dividend of $0.07 per share of common stock for the period from October 1, 2021, to December 31, 2021. The dividend will be payable on January 14, 2022, to stockholders of record as of the close of business on December 31, 2021. About Paramount Group, Inc. Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it achieved a 5 Star rating in the 2021 GRESB Real Estate Assessment. This is the highest GRESB rating that distinguishes Paramount's ESG performance in the top 20% among the 1,520 companies and funds that responded globally. The GRESB Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals, and emerging regulations. GRESB data is used by hundreds of capital providers and thousands of asset managers to benchmark investments across portfolios and to better u

Paramount Group, Inc. (NYSE:PGRE) ("Paramount") announced today that its board of directors has declared a regular quarterly cash dividend of $0.07 per share of common stock for the period from July 1, 2021, to September 30, 2021. The dividend will be payable on October 15, 2021, to stockholders of record as of the close of business on September 30, 2021. About Paramount Group, Inc. Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused

– Backfills Approximately 190,000 square feet of Existing Vacancy – Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it signed leases aggregating 279,000 square feet at 1301 Avenue of the Americas, a 1.7 million square-foot trophy office building, located between 52nd and 53rd Streets in Midtown Manhattan. The leases include (i) a new 167,000 square foot lease with Credit Agricole CIB, a leading global corporate and investment bank, and (ii) a 112,000 square feet renewal and expansion lease with SVB Leerink, a leading investment bank specializing in healthcare and life sciences. The signing of these leases backfills approximately 190,000 square feet of

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it has rescheduled its second quarter 2021 conference call and audio webcast from Wednesday, July 28, 2021 at 10:00 a.m. Eastern Time (ET) to 9:00 a.m. ET on the same day. As previously disclosed, the Company still intends to file its quarterly report on Form 10-Q for the quarter ended June 30, 2021 with the U.S. Securities and Exchange Commission and release its second quarter 2021 financial results on Tuesday, July 27, 2021 after the end of trading on the New York Stock Exchange. The conference call can be accessed by dialing 877-407-0789 (domestic) or 201-689-8562 (international). An audio replay of th

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it will file its quarterly report on Form 10-Q for the quarter ended June 30, 2021 with the U.S. Securities and Exchange Commission and release its second quarter 2021 financial results on Tuesday, July 27, 2021 after the end of trading on the New York Stock Exchange. The Company will host a conference call and audio webcast on Wednesday, July 28, 2021 at 10:00 a.m. Eastern Time (ET), during which management will discuss the second quarter results and provide commentary on business performance. A question and answer session with analysts and investors will follow the prepared remarks. The conference call

Paramount Group, Inc. (NYSE:PGRE) ("Paramount") announced today that its board of directors has declared a regular quarterly cash dividend of $0.07 per share of common stock for the period from April 1, 2021 to June 30, 2021. The dividend will be payable on July 15, 2021 to stockholders of record as of the close of business on June 30, 2021. About Paramount Group, Inc. Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused on maximizing

Coveted distinction recognizes Paramount's commitment to promote health and wellness among tenants and employees across its portfolio Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") is pleased to announce that it has become a Fitwel Champion, reflecting its strong commitment to create office environments that encourage health and wellness among tenants and employees. Paramount has achieved Fitwel certification across 10 properties aggregating approximately nine million square feet. Fitwel is a rigorous third-party healthy building certification system operated by the Center for Active Design (CfAD). Fitwel was created as a joint initiative between the U.S. Centers for Dis

NEW YORK, May 17, 2021 /PRNewswire/ -- Paramount Group, Inc. (NYSE:PGRE) ("Paramount") today announced plans for an extensive repositioning of 60 Wall Street's base and interiors, including its soaring lobby and vast public atrium. With construction set to begin in summer of 2022, the postmodern building's revitalization includes a transformative opening up of the facade, new triple height windows, the addition of a skylight to cast natural light into the atrium, and the installation of the largest indoor green wall in North America. New lively amenities including a restaurant and cafe are also planned with additional seating in the atrium to transform 60 Wall Street into a destination for p

– Backfills Over 40% of Upcoming Vacancy at 31 West 52nd Street – Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that subsequent to the end of the first quarter, it signed a 54,095 square foot lease with Bracewell LLP ("Bracewell") at 31 West 52nd Street, a 29-story Class A trophy office tower located between 5th and 6th Avenue in Midtown Manhattan. Bracewell will occupy the entire 18th and 19th floors for an initial lease term of 16.1 years. The signing of this lease backfills over 40% of the upcoming vacancy, aggregating 131,000 square feet that is scheduled to expire on April 30, 2021. Bracewell is a leading law and government relations firm primarily

Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it will file its quarterly report on Form 10-Q for the quarter ended March 31, 2021 with the U.S. Securities and Exchange Commission and release its first quarter 2021 financial results on Wednesday, April 28, 2021 after the end of trading on the New York Stock Exchange. The Company will host a conference call and audio webcast on Thursday, April 29, 2021 at 10:00 a.m. Eastern Time (ET), during which management will discuss the first quarter results and provide commentary on business performance. A question and answer session with analysts and investors will follow the prepared remarks. The conference ca

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount”) announced today that its board of directors has declared a regular quarterly cash dividend of $0.07 per share of common stock for the period from January 1, 2021 to March 31, 2021. The dividend will be payable on April 15, 2021 to stockholders of record as of the close of business on March 31, 2021. About Paramount Group, Inc. Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Franc

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today the promotion of two executives within the Company’s senior management team. Wilbur Paes has been appointed Chief Operating Officer, Chief Financial Officer and Treasurer as he has taken on additional responsibilities in the newly created position of Chief Operating Officer. Mr. Paes has been with Paramount since 2014. Prior to joining Paramount, he was a Senior Vice President at Vornado Realty Trust. Peter Brindley has been appointed Executive Vice President, Head of Real Estate as he has taken on additional responsibilities besides leasing in the newly created position

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it will file its annual report on Form 10-K for the year ended December 31, 2020 with the U.S. Securities and Exchange Commission and release its fourth quarter 2020 financial results on Wednesday, February 10, 2021 after the end of trading on the New York Stock Exchange. The Company will host a conference call and audio webcast on Thursday, February 11, 2021 at 10:00 a.m. Eastern Time (ET), during which management will discuss the fourth quarter results and provide commentary on business performance. A question and answer session with analysts and investors will follow

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) today announced the 2020 tax treatment of its common stock dividends as described below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Paramount’s dividends. Common Shares (CUSIP #69924R108) Record Date   Payable Date   Total Dividends Per Share     Total Dividends Allocable to 2020     2020 Taxable Ordinary Dividends (1)     Total Capital Gain Distribution     Total Section 1250 Unrecaptured Gain (2)     2020 Non-taxable Dividend (Return of Capital)   12/31/20

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it has completed the previously announced sale of 1899 Pennsylvania Avenue, a 190,955 square foot trophy office building located in Washington, D.C. The final sales price was $103 million, and reflected a $12 million, or 10% reduction versus the previously announced sales price, due to the ongoing COVID-19 pandemic. With the closing of this transaction, Paramount has completed its strategic exit from the Washington, D.C. market. About Paramount Group, Inc. Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) today announced that it has achieved a 5-Star Rating for the second consecutive year under the 2020 Global Real Estate Sustainability Benchmark (GRESB) assessment, as well as an overall score of 87, ranking Paramount among the top 20% of all respondents and ninth out of 55 listed office companies worldwide. The 5-Star Rating is the highest possible achievement under GRESB standards. Paramount’s overall score of 87 represented a two-point improvement versus the 2019 GRESB assessment, and was consistent with the Company’s goal for overall score improvement as laid out in its 2019 Sustainabilit