WASHINGTON, D.C. — In two separate releases, co-developers Hoffman & Associates and Madison Marquette have announced that they sold their stake in The Wharf, a 3.5 million-square-foot mixed-use destination in southwest Washington, D.C. The Public Sector Pension Investment Board (PSP Investments), a pension fund investor based in Quebec, is now the sole owner of The Wharf, following more than a decade of having a minority stake in the development. The Wharf was constructed over the course of 15 years by Hoffman & Associates and Madison Marquette. The mixed-use neighborhood features a mile of waterfront development along the Potomac River. The sales price was not shared in either announcement, but Green Street News reports that Hoffman & Associates and Madison Marquette sold their stake at a $1.8 billion valuation. Previous components at The Wharf have sold in recent years and were thus not included in the sale to PSP Investments, including 300 condominiums, two office buildings and the Willard InterContinental Washington hotel, which Willard Investments purchased and rebranded in 2022. The Wharf was delivered by the sellers in two separate phases. Phase I opened in October 2017 and included three hotels, two multifamily and condominium buildings and 210,000 square feet of retail, …
