Paramount Group Considers IPO

NEW YORK CITY—Paramount Group Inc., among the largest privately owned commercial landlords in the US, is considering an initial public offering, according to Reuters. The New York City-based Paramount reportedly has retained Bank of America to explore strategic alternatives; GlobeSt.com’s calls to Paramount was not returned by early afternoon Thursday, while a BofA spokesman declined to comment.

Citing sources said to be familiar with the matter, Reuters said a Paramount IPO could raise around $2 billion in proceeds. It would rank second only to Hilton Worldwide Holdings‘ $2.7-billion IPO last year among US real estate offerings. The IPO would value Paramount at between $10 billion and $15 billion, including debt.