Paramount Completes $900 Million Refinancing of 1301 Avenue of the Americas
Paramount Group (NYSE:PGRE) has successfully completed a $900 million refinancing of its 1301 Avenue of the Americas property, a 1.8 million square-foot Class A office building in Midtown Manhattan.
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The new five-year, interest-only loan carries a fixed rate of
“This transaction reflects our proactive and disciplined approach to capital management,” said Ermelinda Berberi, Executive Vice President, Chief Financial Officer and Treasurer of Paramount. “It reflects our confidence in the long-term value of this premier Midtown asset and showcases our ability to execute in today’s selective credit environment.”
About Paramount Group, Inc.
Headquartered in
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Ermelinda Berberi
Executive Vice President,
Chief Financial Officer, and Treasurer
212-237-3113
eberberi@pgre.com
Tom Hennessy
Vice President, Investor Relations and
Business Development
212-237-3138
ir@pgre.com
Paramount Media Contact:
212-492-2285
pr@pgre.com
Source: Paramount Group, Inc.