GIC has partnered with Paramount Group, Inc. to form a 95%/5% joint venture to acquire New York-based Manhattan property 60 Wall Street for USD 1.04 billion. In connection with the acquisition, the joint venture completed a USD 575 million financing of the property 60 Wall Street is a 47-story, 1.6 m square foot, LEED Silver, class A office tower in the financial district of downtown Manhattan. The property is 100% leased to, and serves as the US Headquarters of, Deutsche Bank. Prior to the acquisition, Paramount managed and owned approximately 5% of the property through its ownership in certain private equity funds. Subsequent to the acquisition, Paramount will maintain its 5% ownership interest and continue to serve as the property's manager.