VEF bought the assets for its Value Enhancement Fund V, payingthe Washington, DC-based developer $115.29 per sf for theportfolio. VEF was formerly part of New York-based Lend Lease RealEstate Investments. CarrAmerica previously announced it was exitingthe metro office arena to concentrate on other core markets.

"Based on square footage, the transaction marks the largestoffice acquisition in Atlanta this year," says VEF CEO James P.Ryan. "This portfolio fits squarely into our investment strategy ofbuying quality assets located in major markets where we have bothgood current income and solid appreciation potential."

The acquired portfolio consists of 724,000 sf in the vibrantCentral Perimeter market; 721,000 sf in the Peachtree Cornerssubmarket, northeast of Atlanta; and 256,000 sf in theNorthwest/Interstate 75 submarket. The Central Perimeter propertiesinclude the Embassy Row office park along GA 400.