PGRE - 2.6 Billion More Reasons Why Offices Aren't Dead
There have been a lot of headlines over the past two years suggesting that offices are dying. They surmise that with remote and hybrid work taking center stage, companies won't need as much office space in the future. This negativity has weighed on real estate investment trusts (REITs) focused on office buildings.
However, given the money institutional investors like private equity funds are pouring into the office space, it's clear that the office isn't dead. Last week, we saw another sign of life as investment firm Monarch Alternative Capital offered to buy office REIT Paramount Group (NYSE: PGRE) for $2.6 billion. Here's a look at what Monarch sees in Paramount Group and why private capital continues to pour into the office sector.
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2.6 Billion More Reasons Why Offices Aren't Dead