Paramount Group Issues Mezzanine Financing for 44 Wall Street

October 11, 2016

44 Wall is a 23-story office building owned by The Blackstone Group.

The firm recently represented longtime client Paramount Group, Inc. in connection with the issuance of mezzanine financing secured by interests in 44 Wall Street, a 289,000-square-foot, 23-story office building owned by The Blackstone Group. Senior financing was provided by Deutsche Bank, with the overall size of the debt at approximately $85 million, including a future funded construction component. The property was purchased by Blackstone as part of a $2.7 billion portfolio sale by Obligo of its real estate assets in Scandinavia, Latvia, Germany and the United States.

Headquartered in New York City, Paramount Group, Inc. is a fully integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City, Washington, D.C. and San Francisco.

The deal was handled by partner Thomas Henry, counsel Daniel Backer and associates Timothy DeKeyser and Jennifer DiNicola.