The building provides views of the Gateway Arch and the Mississippi River and is within walking distance of the Thomas F. Eagleton Federal Courthouse, Busch Stadium, and the nearly-completed St. Louis Cardinal's ballpark.

The new owner is a group of tenant-in-common buyers. The seller was listed as St. Louis RPFIV Gateway One Associates LLC. According to the Missouri Secretary of State's office, the LLC's managing member is GEIRF IV Holding Corp., whose EVP is Michael J. Strone, a lawyer with GE Investments.

In the Indiana transaction, publicly held medical office REIT Cogdell Spencer Inc. of Charlotte acquired Methodist Professional Center One, a 171,500-sf office building and adjacent parking garage on the campus of Methodist Hospital in Indianapolis for $39.9 million. The seller was Clarian Healthcare System.

Methodist Professional Center One is 94.7% leased. The building houses a breast health center, open MRI, vascular laboratory and physical therapy offices leased by the hospital. Additional resident specialties include cardiology/cardiovascular, neurology, general surgery, urology, orthopedics, nephrology, internal medicine and otolaryngology.

The acquisition is Cogdell's first acquisition in the market and its first acquisition since its IPO in November, says Cogdell chief executive Frank Spencer. Cogdell's portfolio consists of 45 wholly owned properties, eight joint ventures and 16 managed medical office buildings.