REIT IPO Reaches New Heights

Paramount Group, Inc. is a REIT focused on owning, operating and managing Class A office properties in select central business districts in New York City, Washington, D.C. and San Francisco. To facilitate its public offering, Paramount consolidated multiple institutional real estate funds and acquired interests in assets historically managed by the company and owned by non-U.S. and U.S. investors. Paramount called on Goodwin to advise on this complex and extensive endeavor.

To accomplish this highly tax-structured, cross-border transaction, Goodwin leveraged the best our Real Estate Capital Markets, Fund Formation, Financial Services and Tax Practices have to offer, from both a public and private real estate capital markets perspective. Goodwin’s Real Estate M&A team also represented Paramount in connection with a potential dual-track sell-side transaction involving the sale of its real estate investment management platform.

Upon the culmination of the roll up of nine real estate investment funds previously sponsored by the company and completion of its initial public offering and related formation transactions, Paramount’s portfolio consists of 12 Class A office properties aggregating approximately 10.4 million square feet, and remaining managed funds. The company remains an SEC-registered investment adviser and now trades on the NYSE under the symbol PGRE, and its $2.6 billion IPO remains the largest ever in the REIT industry.