Market Overview

Paramount Honored with Three Pinnacle Awards from BOMA New York


Paramount Group, Inc. (NYSE: PGRE) ("Paramount" or the "Company") is pleased to announce that it has been honored with three Pinnacle Awards by the Building Owners and Managers Association of New York ("BOMA New York") for its industry-leading approach to sustainability, tenant service and property management. 900 Third Avenue and 712 Fifth Avenue, two of the Company's premier, Class-A office buildings in Manhattan, were chosen by Paramount's peer group as the recipients of the ‘Grand Pinnacle,' ‘Operating Office Building of the Year' and ‘Earth' awards.

"We are honored to be recognized by our peers for our commitment to consistently achieving the highest of standards of sustainability, tenant service, community engagement and property management," said Albert Behler, Chairman, Chief Executive Officer and President of Paramount. "Our success in this regard is a testament to the quality of our hardworking team and their dedication to always go above and beyond to deliver exceptional results."

900 Third Avenue was selected as the winner of the inaugural ‘Grand Pinnacle' award – the top prize – for achieving the highest score among all categories in the 2016 competition. Paramount was chosen for raising the Energy Star score at the LEED Gold certified office building, evaluating new ways to achieve Platinum LEED, implementing new staff mentoring and training programs and advancing its neighborhood outreach initiatives. 900 Third Avenue also received the prestigious ‘Operating Office Building of the Year' award for the 500,000 – 1,000,000 square foot category. Specifically, the building was recognized for its high-performance standards in sustainability, emergency preparedness, security and communications.

For the second consecutive year, Paramount was honored for its commitment to energy-efficiency and sustainability with 712 Fifth Avenue winning the ‘Earth' award. The building was recognized for achieving LEED Silver and Energy Star status, which it accomplished by implementing additional sustainability programs and practices throughout the property. With 1325 Avenue of the Americas taking home this honor in 2014, Paramount is the first ever back-to-back winner in this award category.

With the three awards Paramount earned from BOMA New York, the Company has now collected BOMA-affiliated awards in all three of its high barrier-to-entry, supply constrained submarkets. One Market Plaza won ‘The Outstanding Building of the Year' (TOBY) award for the over 1,000,000 square feet category from BOMA San Francisco in 2016, as did Waterview in 2014 for the 500,000 – 1,000,000 square foot category from the Apartment and Office Building Association of Metropolitan Washington, D.C. (AOBA). Waterview was also selected as the BOMA Mid-Atlantic TOBY award winner in 2015.

BOMA New York's annual Pinnacle Awards are presented each February to New York's premier buildings, people and charitable organizations. Winners are determined by a peer-judging review system. All local winners are automatically entered into the national TOBY (The Outstanding Building of the Year) awards competition – first at the Regional level and then at the North American level, including all of the US and Canada. Paramount will be represented by both 900 Third Avenue and 712 Fifth Avenue at the BOMA Mid-Atlantic Conference this March, and by One Market Plaza at the BOMA Pacific Southwest Conference in the same month.

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.

Paramount Group, Inc.
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