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.


Corporate Finance and Restructuring

M&A advisory, restructuring and insolvency, debt advisory, strategic alternatives, transaction diligence and independent financial opinions.

Fairness Opinions

#1 ranked provider of fairness opinions for boards of directors and special committees.

Valuation Services

When companies require an objective and independent assessment of value, they look to Kroll.

Mergers and Acquisitions (M&A) Advisory

Kroll’s investment banking practice has extensive experience in M&A deal strategy and structuring, capital raising, transaction advisory services and financial sponsor coverage.

Transaction Advisory Services

Kroll’s Transaction Advisory Services platform offers corporate and financial investors with deep accounting and technical expertise, commercial knowledge, industry insight and seamless analytical services throughout the deal continuum.

See All Case Study