NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it has appointed David Zobel as Executive Vice President, Head of Acquisitions, effective June 26, 2018. Mr. Zobel joined Paramount in 2008 and most recently served as Senior Vice President, Acquisitions and Strategic Relationships.
“David is a proven deal maker with an excellent track record of identifying, structuring and executing complex transactions,” said Albert Behler, Chairman, Chief Executive Officer and President. “His leadership skills, knowledge of our Company and people, and deep relationships in the investment community make him the right person for the job.”
In his new role, Mr. Zobel will be responsible for all acquisition and disposition related activities, including sourcing, underwriting, and structuring all debt and equity investments on behalf of Paramount and its funds. During his time at Paramount, Mr. Zobel has been instrumental in completing transactions in excess of $5 billion. Prior to joining Paramount, Mr. Zobel worked in the Real Estate Finance and Securitization Group at Credit Suisse, where he specialized in high-yield distribution and was involved in the structuring, pricing, and sale of over $4 billion of subordinated commercial mortgage debt. Mr. Zobel graduated from the Wharton School of the University of Pennsylvania with a Bachelor of Science degree in Economics with a concentration in Finance.
Mr. Zobel will succeed Daniel Lauer, who will be leaving Paramount to spend more time with his family and pursue other career opportunities. “I’d like to thank Dan for his many contributions in his nearly 29 years of service to Paramount and helping the Paramount Team amass this iconic portfolio,” concluded Mr. Behler.
About Paramount Group, Inc.
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. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.