Major Office Landlord Is Exploring a Sale of the Company
Paramount Group PGRE 14.33%increase; green up pointing triangle, a major New York City and San Francisco office landlord, is exploring strategic alternatives for its business, which could entail an outright sale of the company.
The company said Monday that it has enlisted Bank of America as financial adviser and the law firm Latham & Watkins to conduct a strategic review with 'no set timetable' and 'no assurance' of its outcome. It could end in anything from a sale of the entire company, parts of it, a recapitalization or a joint venture with another entity.
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