The bank will maintain its North American headquarters in the47-story Downtown facility after the sale completes. The firm hassigned a 15-year lease for the space.
Deutsche Bank purchased the 1.6-million-sf building for $610million, or $373 per sf, at the end of 2001, according to pastreports. Just months after 9/11, the German firm defied the trendthat had firms fleeing the area by taking such a large presenceDowntown.
According to a release on the sale Deutsche Bank Securities Inc.advised the bank. CB Richard Ellis' Bob Alexander, DavidMaurer-Hollaender and Doug Lehman represented the bank. Theydeclined to comment on the deal to GlobeSt.com. Paramount isreceiving financing from the Commercial Real Estate Group ofDeutsche Bank.
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