The acquisition was financed by Private Bank Corp., which put up75% of the cost of the acquisition. The loan floats over LIBOR andis currently just under 5.35%, Gilbert says.

The seller was Cherry Creek Place Associates III Ltd., whosegeneral partner is Angelo Mariani, according to public documents.The limited partner is listed as Cherry Creek Equities, whichincludes Bill L Walters.

The seller also owns an adjacent 200,000-sf building but isrestricted from taking any tenants from Arthur Hill's building forfive years, Gilbert says. The other adjacent property is a hotel,which has been useful for the building's tenant. The US Office ofPersonnel Management leases 38,000 sf for a training facility,flying people in from all over the country and housing them in theadjacent Radisson hotel. The hotel was put under contract by RedLion Hotels Corp. earlier this month.