Willkie advised longtime client Paramount Group on the $227 million transaction in San Francisco’s North Financial District.
Paramount Group, Inc. (NYSE:PGRE) announced it has entered into an agreement to acquire 111 Sutter Street, a 293,000 square foot office building located in San Francisco’s North Financial District, for $227 million or approximately $775 per square foot. The property is currently 79.6% leased primarily to technology, media, business services and not-for-profit tenants. The transaction is expected to close in the first quarter of 2019.
Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City, Washington, D.C. and San Francisco.
The transaction was handled by partner Thomas Henry and associates Elizabeth Case and Timothy Dembo.