Fairness Opinion

Duff & Phelps Rendered Relative Fairness Opinion in Connection with the Paramount Group's REIT IPO

On November 19, 2014 Paramount Group went public, raising $2.3 billion, representing the largest REIT IPO in history.

Transaction Overview
Paramount Group, Inc. consolidated the real estate portfolios and operations of a series of investment funds and other entities and internalized its management company as part of its conversion to a real estate investment trust and initial public offering.

About Paramount Group, Inc.
Paramount Group is one of the largest vertically-integrated real estate companies focused on owning, operating and managing high-quality, Class A office properties in New York City, Washington, D.C. and San Francisco. Paramount’s portfolio consists of 12 Class A office properties with an aggregate of approximately 10.4 million rentable square feet.

Role of Duff & Phelps
Duff & Phelps served as financial advisor to the investment funds to determine the relative value of each of the funds and the management company and rendered a fairness opinion that the relative value attributable to each of the funds and the management company were fair to the funds, from a financial point of view.

 



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