Paramount Completes $900 Million Refinancing of 1301 Avenue of the Americas with New 5-Year, Interest-Only Loan

Paramount Group completed a $900 million refinancing of 1301 Avenue of the Americas, a 1.8 million square-foot office building in Midtown Manhattan. The five-year, interest-only loan carries a fixed rate of 6.39% and matures in 2030. Net proceeds will be used to repay an existing $860 million loan and fund future leasing costs. The refinancing reflects Paramount's proactive approach to capital management and confidence in the asset's long-term value.