Paramount Group Sells Waterview Building in Rosslyn, Virginia

Paramount Group said Wednesday it has agreed to sell Waterview, a 24-story 647,000 square foot, office building in Rosslyn, Virginia, for $460 million.

Waterview is currently 99% leased, and all of the office space is leased to a single tenant, whose lease expires in January 2028. The company said the sale will result in a financial statement gain of approximately $110 million and a tax gain of approximately $393 million, which will be deferred as part of a like-kind exchange for the acquisition of One Front Street.