Hoffman & Associates and Madison Marquette have sold their stakes in The Wharf, a mile-long 3.5 million-square-foot megadevelopment waterfront neighborhood in Washington, D.C., to Public Sector Pension Investment Board (PSP Investments).

PSP Investments, which has been a financial equity partner in the development since 2014, will own The Wharf in its entirety. Hoffman & Associates and Madison Marquette developed the $3.6 billion riverfront neighborhood located along the Potomac River, just south of downtown D.C.

“Since 2006, we’ve led The Wharf’s transformation from vision to reality, creating a dynamic, world-class neighborhood that includes everything from concert venues and homes to restaurants, parks, piers, and unparalleled waterfront access,” said Monty Hoffman, Founder & Chairman of Hoffman & Associates. “We have full confidence in our partner to carry forward our shared vision for The Wharf as we continue expanding communities across the DMV and beyond.”

With this sale, The Wharf marks the successful completion of its evolution from a transformative development to a nearly fully leased neighborhood offering residential, office, retail, and public space.