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Legg Mason tower sale values building at nearly $300 million

Legg Mason tower sale values building at nearly $300 million

The developer of the Legg Mason building in Harbor East sold a majority stake in a transaction that reportedly values the property at nearly $300 million.

The sale comes weeks after the city agreed to accept $1.5 million to cancel an accord that required the owner of the 24-story office tower and garage to share profits with the city.

The potential profit reaped by developer H&S Properties Development Corp. in the sale revived questions about a deal that has been controversial since the city backed it a decade ago, saying it helped retain Legg Mason's headquarters in Baltimore.

CoStar, a real estate research firm that tracks sales, reported that H&S sold a 56...

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