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Paramount Announces Sale of 25% Interest in One Front Street

1. Paramount sold 25% of One Front Street for $255 million. 2. They retain 75% and will manage the property.

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FAQ

Why Bullish?

The sale at a strong valuation reinforces PGRE's market position, similar to its previous strategic asset sales that strengthened investor confidence.

How important is it?

This transaction highlights PGRE's active management strategy and financial health, likely increasing investor interest and positively influencing stock price.

Why Short Term?

Immediate cash influx from the sale could lead to short-term price stability and potential gains as market reassesses PGRE's asset value.

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NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it has sold a 25% interest in One Front Street, a 649,000 square foot Class A office building located on the corner of Front and Market Streets in San Francisco, at a gross asset valuation of $255 million. Paramount will continue to own the remaining 75% interest and manage and lease the property. As part of the transaction, Paramount has provided $40.5 million of seller financing f.

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