Proposed San Francisco Waterfront Development Changes Hands
Paramount Group Residential Development Fund just sold its majority interest in an ultra-luxury waterfront condo project at 75 Howard. A new JV between JBC 75 Howard, an affiliate of The John Buck Co., and Chinese developer SRE Group purchased the stake in the future 20-story, 120-unit building. The deal was worth about $110M, according to the San Francisco Business Times. JLL executed the deal.
75 Howard will be just off the Embarcadero in the South Financial District at the corners of Howard and Steuart streets. The project will be designed by Skidmore, Owings & Merrill and be close to shopping, five-star hotels, restaurants and recreational and cultural amenities.
The site contains an eight-story parking garage, which will be demolished to make way for the new development. The project was approved in 2015.