Latest News
Paramount Acquires San Francisco Market Centre for USD 772m
Friday 13 December 2019

13 December 2019 - New York, US-based REIT Paramount Group, Inc. (NYSE: PGRE) has completed its acquisition of San Francisco, US-based two-building Class A office complex Market Centre, in a transaction valuing the property at approximately USD 772m, the company said.

The property was acquired through a joint venture in which Paramount owns a 67.0% interest.

In connection with the acquisition, the joint venture completed a USD 402m financing of the property for an initial term of five years, with two one-year extension options.

The loan is interest only at LIBOR plus 150 basis points and was swapped for an all-in fixed rate of 3.07% over the initial term.

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, San Francisco and Washington, DC.
Date Published: 13/12/2019
Target: Two-building Class A office complex Market Centre, San Francisco
Country: USA
Deal Size: 772m (USD)
Sector: Construction/Real Estate
Type: LBO
Financing: Cash
Status: Closed
Buyer: Paramount Group, Inc