Paramount Group Sells 25% Stake In One Front Street San Francisco Office Tower For $225M

The asset involved in this transaction is an office building located at 1 Front Street in San Francisco. The property spans 649,000 square feet and has a sale price of $225,000,000, which equates to a price per square foot of $347.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $225,000,000
• Seller: Albert Behler - Paramount Group
• Asset Value: $255,000,000
• Seller Financing: $40,500,000
• Proceeds from Sale: $11,500,000
• Acquisition Price in 2016: $521,000,000

Albert Behler, representing Paramount Group, sold a 25% stake in the office tower while retaining 75% ownership and management responsibilities. This transaction reflects a considerable decrease in asset value since the company's initial acquisition.