Deals
Paramount Buys San Francisco Offices for $395 Million
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Paramount Group Inc., which is planning a record U.S. initial public offering for a real estate investment trust, bought a 23-story office building in San Francisco for about $395 million.
Paramount, based in New York, purchased the property at 50 Beale St. from Rockefeller Group Investment Management Corp., the companies said in separate statements today. Rockefeller Group said it sold the 662,060-square-foot (61,507-square-meter) tower for $596 a square foot.