Joele Frank represents Paramount Group as the real estate investment trust received an unsolicited takeover bid from Monarch Alternative Capital.
The $12 per share offer values Paramount, which owns, operates and manages Class A office buildings in New York and San Francisco at $2.2B.
Paramount, which promises to review the officer, sees a bright future the revival of the office building market as the COVID-19 pandemic winds down.
It reported brisk leasing growth during Q4 2021 that underscores the “substantial opportunities to drive financial growth as the company repositions assets to fit the needs of high-quality tenants.”
Joele Frank, Wilkinson Brimmer Katcher’s Jon Keehner and Andrew Siegel represent Paramount Group.
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