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Paramount sells Liberty Place for $155m
Transactions - SEPTEMBER 27, 2019

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Paramount sells Liberty Place for $155m

by Released

Paramount Group has sold Liberty Place, a 172,000-square-foot office building located in the East End submarket of Washington, D.C., for $154.5 million, or approximately $900 per square foot.

The buyer was not disclosed.

The company intends to use net proceeds from the sale to fund its share of the previously announced purchase of Market Center in San Francisco, as well as for general corporate purposes.

We continue to execute on our capital recycling strategy by selling stabilized assets at attractive prices and redeploying that capital into higher-growth opportunities, such as Market Center,” said Albert Behler, Chairman, CEO and president of the company.

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