inJuly

The five properties are One Kaiser Plaza (530,000 sf; 28stories; known as Ordway), 1901 Harrison Street (272,000 sf; 16stories), 1333 Broadway (238,000 sf; 10 stories; above BARTstation), 2101 Webster Street (475,000 sf; 20 stories) and 2100Franklin Street (215,000 sf; nine stories; LEED-Gold). The firstfour properties have a combined occupancy of 89.3% while the fifthproperty is a $78.5-million ground-up development that wascompleted this time last year but remains vacant. An affiliate ofBrandywine will manage and lease the five properties for an initialone-year period following the closing.

The purchase price included CIM's assumption of existingmortgage loans on three of the leased properties totaling $95.3million, and a $40-million, interest-free loan secured by the firstmortgage on 2100 Franklin and 2101 Webster that comes due Aug. 2,2010. In addition, CIM Group was granted a 15-year option topurchase a land parcel adjacent to One Kaiser Plaza slated for the650,000-sf Two Kaiser Plaza office building, and has committed tolease to CIM 150 parking spaces on that same parcel for tenants ofthe building.