LOUISVILLE, KY-KBS Real Estate Investment Trust, through anindirect wholly-owned subsidiary, has paid $115 million for theNational City Tower here. The company funded the purchase of the40-story building with a $69 million mortgage loan.

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The building is 96% leased to 22 tenants, such as PNC Bank,Humana and the law firms Greenebaum Doll & McDonald, andDinsmore & Shohl LLP. The tower, sold by Meridian Realty Group,is in the city’s Main Street Corridor.

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Bill Rogalla, SVP and director of acquisitions for the centralregion for KBS, said the firm expects to retain a strong tenantbase. “Clearly one of downtown Louisville’s few truly iconic officetowers, National City Tower represents another landmark asset forthe KBS REIT II portfolio,” he said in a statement.

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The building was known as First National Tower after itssignature tenant, First National Bank, as was renamed National CityTower when First National was acquired by National City Bank. Theproperty is at 101 S. Fifth St., bounded by Fourth, Fifth, Marketand Main streets.

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He said the building is the first Kentucky property for thecompany. KBS-affiliated companies have added more than 6.2 millionsquare feet of commercial real estate in 2010, including the31-story Granite Tower in Denver for $149 million and the 60-story300 N. LaSalle building for $655 million in Chicago.

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