Rithm in the lead for Paramount takeover
Rithm Capital, a major mortgage servicer, is poised to acquire Paramount Group's 17-building office portfolio in New York City and San Francisco, after a months-long bidding process involving top players in the real estate industry.
Rithm Capital, one of the largest mortgage servicers in the U.S., is inching closer to securing the acquisition of Paramount Group, a major office landlord in New York City and San Francisco. According to sources familiar with the matter, Rithm is currently the front runner in the months-long multiple-round bidding process.
The competition for Paramount Group's 17-building office portfolio has been fierce, with top players in the industry vying for the lucrative deal. Some of the bidders included SL Green, Vornado, Blackstone, Empire State Realty, and DivcoWest with Dubai-based Saray Capital, according to sources.
The potential acquisition of Paramount Group's portfolio will allow Rithm to expand its presence in the commercial real estate market, as the company has been on an acquisition spree in recent years.
If the deal goes through, Rithm will gain control of Paramount's 13 million square feet of office space in New York City and San Francisco, further solidifying its position as a major player in the industry.
As the bidding process nears its end, all eyes are on Rithm as it looks to close the deal and add another significant asset to its growing portfolio.
https://therealdeal.com/new-york/2025/09/16/rithm-capital-likely-winner-of-paramount-group-acquisition/