The developers that brought a 3.5M SF mixed-use project to D.C.’s waterfront have sold their interest in the property.
Hoffman & Associates and Madison Marquette have sold their stakes in The Wharf to PSP Investments, the developers announced in separate press releases Monday.
The companies didn’t share the price of the stakes they sold, and it hasn’t yet appeared in property records, but Bisnow and others have previously reported a deal was in the works that values the property at $1.8B.
The deal gives PSP full control over a majority of The Wharf, but it doesn’t include some parcels, including a hotel developed under a different partnership and condos and office suites that were sold separately.
Click here to read the rest of the article written by Jon Banister over at Bisnow
