NEW YORK CITY—Paramount Group Inc., among thelargest privately owned commercial landlords in the US, isconsidering an initial public offering, according to Reuters. TheNew York City-based Paramount reportedly has retained Bankof America to explore strategic alternatives;GlobeSt.com's calls to Paramount was not returned by earlyafternoon Thursday, while a BofA spokesman declined to comment.
Citing sources said to be familiar with the matter, Reuters saida Paramount IPO could raise around $2 billion in proceeds. It wouldrank second only to Hilton Worldwide Holdings' $2.7-billion IPOlast year among US real estate offerings. The IPO would valueParamount at between $10 billion and $15 billion, includingdebt.
Other possible scenarios that Paramount is said to beconsidering include a reverse merger into a publicly traded REIT.Preparations for the proposed stock offering are still in the earlystages and any deal would be several months away, Reutersreported.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
