Paramount Group Inc. reported a net loss attributable to common stockholders of $28.9 million, or $0.13 per share, for the third quarter of 2025, compared to $9.7 million, or $0.04 per share, for the third quarter of 2024. The third quarter 2025 results include $9.0 million, or $0.04 per share, of transaction-related costs relating to a proposed merger. Core Funds from Operations (Core FFO) attributable to common stockholders was $31.5 million, or $0.14 per share, down from $40.5 million, or $0.19 per share, in the same period of the previous year. Same Store Cash Net Operating Income (NOI) decreased by 8.0%, and Same Store NOI declined by 12.0% compared to the third quarter of 2024. The company leased 547,812 square feet in the quarter at a weighted average initial rent of $82.45 per square foot. Of this, 130,756 square feet represented second generation space, with mark-to-markets of 13.9% on a GAAP basis and 6.4% on a cash basis. During the quarter, Paramount Group completed a $900.0 million refinancing of 1301 Avenue of the Americas, replacing an $860.0 million loan. The new five-year, interest-only loan has a fixed rate of 6.39% and matures in August 2030. The company retained approximately $26.0 million after repayment and closing costs. On September 17, 2025, Paramount Group announced an agreement to be acquired by Rithm Capital Corp. for approximately $1.6 billion in cash, or $6.60 per fully diluted share, with the transaction expected to close in the fourth quarter of 2025, subject to customary approvals and conditions.