RITM News & Events

Reports Q1 revenue $1.38B, consensus $1.27B. "Despite a challenging and volatile market environment, Rithm delivered strong Q1 results, with Newrez generating a 19% annualized operating ROE, Genesis posting 80% year-over-year origination growth, and our asset management platform growing to approximately $60 billion in AUM," said Michael Nierenberg, CEO of Rithm Capital. "Our diversified owner-operator model is built to perform through disruption, and we are confident the current conditions create compelling opportunities to drive long-term value for our shareholders."

Rithm Capital announced that its commercial real estate platform Paramount Group, has officially rebranded as Elecor Properties, a premier real estate platform redefining the modern workplace. The new identity reflects a strategic transformation from a high quality, Class A office portfolio into an operating platform built for the next evolution of the workplace, the company said. "Elecor Properties is purpose-built around a simple thesis: office space is no longer measured by square footage alone, but by the ability to attract top talent, foster collaboration and drive measurable productivity," Rithm said. "To deliver on this, Rithm and its key JV partners have plans for approximately $250 million in capital improvements across Elecor's portfolio to elevate the office experience and set a new standard for what buildings can offer." Elecor's leadership team will remain in place, with Peter Brindley continuing as Executive Vice President, Head of Real Estate, overseeing day-to-day operations.