Rithm Strikes $1.6 Billion Deal for Landlord Paramount Group

Rithm Capital Corp. agreed to buy Paramount Group Inc., an office landlord in New York and San Francisco, for about $1.6 billion.

Rithm is paying about $6.60 per Paramount share, according to a statement Wednesday. That’s a 38% premium to Paramount’s closing stock price on May 16, the last business day before the property owner said it was evaluating strategic alternatives.