Paramount acquired the tower from the development team of JBG,CIM and Brookfield. The building is expected to deliver inSeptember.
Paramount Group represented itself in the transaction. Its legalcounsel was Alison Jones of Alston & Bird. Cassidy &Pinkard represented the seller. Michael Pickett of BinghamMcCutchen was legal counsel for the development team.
According to the JBG website, Waterview, which is located on a2.2-acre site at the foot of the Key Bridge, is comprised of two300-foot high towers designed by Pei, Cobb Freed and Partners. Theother tower is a 633,000-sf, 24-story structure with 10,000 sf ofretail. The 29-story tower also features 136 condo residences and a154-key boutique hotel, but these were not included in the sale toParamount.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
