LOS ANGELES—An investor group led by AtlasCapital and Square Mile CapitalManagement has completed the purchase of EVOQProperties. In an earlier story, GlobeSt.com reported that theinvestment group, which includes Atlas Capital Investors III,Square Mile Capital Management and USAA Real EstateCo., agreed to purchase the company in a transactionvalued at $357.4 million, which includes the assumption of EVOQProperties' debt.

EVOQ Properties has a portfolio of 2 million rentable squarefeet and 13 acres of developable land, all in the downtown market.It includes the 32-acre Alameda Square, which isthe largest single block of space in the submarket. Thisacquisition positions the buyers to take advantage of therevitalization in Downtown Los Angeles. Despite its notableportfolio, EVOQ Properties had $36.7 million in the bank at the endof last year.

EVOQ's stockholders have received their merger consideration inexchange for their shares. Stockholders reportedly earnedapproximately $12.96 per share prior. Neither party responded to arequest for comment on the closing of the transaction.