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Investments in Unconsolidated Real Estate Funds | 3 Months Ended
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Mar. 31, 2022
Real Estate Fund [Abstract] |
Investments in Unconsolidated Real Estate Funds |
4. | Investments in Unconsolidated Real Estate Funds
We are the general partner and investment manager of Paramount Group Real Estate Fund VIII, LP (“Fund VIII”) and Paramount Group Real Estate Fund X, LP and its parallel fund, Paramount Group Real Estate Fund X-ECI, LP, (collectively, “Fund X”), our Alternative Investment Funds, which invest in mortgage and mezzanine loans and preferred equity investments. While Fund VIII’s investment period has ended, Fund X’s investment period ends in December 2025. As of March 31, 2022, Fund X has $192,000,000 of capital committed, of which $81,925,000 has been invested and $101,117,000 has been reserved for future funding. Our ownership interest in Fund VIII and Fund X was approximately 1.3% and 7.8%, respectively, as of March 31, 2022. As of March 31, 2022 and December 31, 2021, our share of the investments in the unconsolidated real estate funds aggregated $11,573,000 and $11,421,000, respectively. We recognized income of $170,000 and $180,000 for the three months ended March 31, 2022 and 2021, respectively.

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