M&A
confidence high
sentiment neutral
materiality 0.75
Rithm Property Trust Inc. (RPT): M&A transaction — Rithm Property Trust invests $50M for ~3.9% indirect interest in Paramount Group office portfolio
Rithm Property Trust Inc.
- Acquired ~3.9% limited partnership interest in Aggregators owning Paramount Group Operating Partnership for $50M cash on hand.
- Commitment to contribute up to additional $7.5M under certain circumstances for more interests.
- Portfolio includes 10 office properties: seven in NYC (including 1633 Broadway) and three in San Francisco.
- Related-party transaction: Rithm Capital (external manager) manages portfolio; CEO/CFO of RPT also serve at Rithm Capital.
- Financial statements and pro forma info to be filed by amendment within 71 days.