Welcome to our dedicated page for Paramount Group news (Ticker: PGRE), a resource for investors and traders seeking the latest updates and insights on Paramount Group stock.
Paramount Group Inc (PGRE) maintains a focused portfolio of Class A office properties in New York City and San Francisco's central business districts. This page serves as the definitive source for PGRE-related news, offering investors and stakeholders immediate access to essential updates.
Track the REIT's latest developments including earnings reports, strategic acquisitions, property redevelopment initiatives, and leasing activity. Our curated collection ensures you stay informed about operational milestones and market positioning in the competitive urban real estate sector.
Discover official press releases alongside third-party analysis of PGRE's financial performance and asset management strategies. Content spans quarterly results, sustainability efforts, tenant retention programs, and leadership announcements relevant to commercial real estate investors.
Bookmark this page for streamlined access to PGRE's evolving story in premium office markets. Check regularly for updates impacting long-term rental income streams and asset valuation trends in key metropolitan areas.
Paramount Group (NYSE: PGRE) announced that SVB Securities has expanded its lease at 1301 Avenue of the Americas, signing a new lease for 68,183 square feet on the 5th floor. This brings SVB Securities' total commitment at the site to 139,176 square feet. The building, a 1.7 million square-foot office space located in Midtown Manhattan, reduces overall availability from the former Barclays block. Additionally, this transaction supports Paramount's goal of attracting high-quality tenants and enhancing the value of its portfolio.
Paramount Group, Inc. (PGRE) reported a net income of $3.4 million for Q1 2022, reversing the previous year's loss. Core Funds from Operations (Core FFO) rose to $54.6 million, or $0.25 per diluted share. The company raised its full-year earnings guidance, estimating a net loss between $0.05 and $0.01 per diluted share and Core FFO between $0.93 and $0.97 per diluted share. A 3.9% increase in Same Store Cash Net Operating Income was observed, although Same Store NOI declined by 2.7%. Paramount also leased 202,820 square feet at an average initial rent of $67.67 per square foot.
Paramount Group, Inc. (NYSE: PGRE) announced it will file its Form 10-Q for the quarter ended March 31, 2022, on April 27, 2022, after market close. The Company will host a conference call on April 28, 2022, at 10:00 a.m. ET to discuss the financial results and business performance, followed by a Q&A session. Investors can access the call at 877-407-0789 (domestic) or 201-689-8562 (international). A live audio webcast will also be available on the Company’s website, with a replay accessible shortly after the call.
Paramount Group, Inc. (NYSE: PGRE) announced that its property, 111 Sutter Street in San Francisco, has achieved LEED Platinum certification, the highest score for a LEED project in the city in 2021. This certification highlights the company's commitment to sustainability, with 100% of its office properties certified as either LEED Gold or Platinum. Paramount's portfolio includes 11.3 million square feet of such properties, targeting tenants focused on sustainability. The improvements at 111 Sutter included energy management systems and low-flow fixtures that enhance environmental performance.
Paramount Group, Inc. (NYSE: PGRE) has unanimously rejected an unsolicited proposal from Monarch Alternative Capital LP to acquire the company’s shares for $12.00 each. The Board determined the offer undervalued Paramount, especially given its strong operating performance in 2021, with over one million square feet leased and a projected Core FFO growth above market consensus for 2022. The company aims to enhance stockholder value by repositioning its Class A assets and leveraging its management capabilities, expressing confidence in future growth opportunities.
Paramount Group, Inc. (NYSE: PGRE) has announced a quarterly cash dividend increase to
Paramount Group, Inc. (NYSE: PGRE) announced it received an unsolicited proposal from Monarch Alternative Capital LP to acquire its common stock for $12.00 per share in cash. The Board will review this non-binding offer in consultation with independent advisors. Paramount reported significant operational growth in 2021, executing leases totaling over one million square feet, a 45% increase from 2020. The company aims for continued strong performance into 2022, leveraging its financial profile and integrated operations.
Bayerische Versorgungskammer and Paramount Group, Inc. (NYSE: PGRE) have formed a joint venture, acquiring a retail condominium at 1600 Broadway for $191.5 million from Sherwood Equities. The property, measuring 26,000 square feet, is fully leased to Mars, Inc. and serves as the flagship for M&M's World. The joint venture secured a $98.0 million interest-only loan at a fixed rate of 3.45%. Paramount holds a 9.2% stake and will manage the asset. This acquisition strengthens Paramount's portfolio in Times Square.
Paramount Group, Inc. (NYSE: PGRE) announced that Michelin Star restaurant Din Tai Fung has signed a 15-year lease for about 26,400 square feet at 1633 Broadway, New York. This site will be Din Tai Fung's first NY location, designed by the Rockwell Group, and is set to open in 2023. The restaurant aims to attract high foot traffic due to its prime Midtown location, enhancing the property's appeal and providing a unique amenity for tenants.
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