January 24, 2017 / 10:08 PM / 3 years ago

BRIEF-GIC AND PARAMOUNT FORM JOINT VENTURE AND ACQUIRE 60 WALL STREET

Jan 24 (Reuters) - Paramount Group Inc

* GIC AND PARAMOUNT FORM JOINT VENTURE AND ACQUIRE 60 WALL STREET

* GIC - FUND AND PARAMOUNT GROUP, INC HAVE FORMED A 95%/5% JOINT VENTURE WHICH HAS ACQUIRED 60 WALL STREET FOR $1.04 BILLION

* GIC - SUBSEQUENT TO ACQUISITION, PARAMOUNT WILL MAINTAIN ITS 5% OWNERSHIP INTEREST AND CONTINUE TO SERVE AS PROPERTY’S MANAGER

* GIC - IN CONNECTION WITH ACQUISITION, JOINT VENTURE COMPLETED A $575 MILLION FINANCING OF PROPERTY

* GIC - PARAMOUNT WILL MAINTAIN ITS 5% OWNERSHIP INTEREST AND CONTINUE TO SERVE AS PROPERTY’S MANAGER Source text for Eikon: Further company coverage:

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