Somera Capital SVP Tim Mitchell tells GlobeSt.com that theQuorum property was built in the middle 1970s and is about 80%occupied. The Inverness property was built in 1985 and is 85%occupied, he says. Quorum was acquired from TA Realty of Boston;Inverness was acquired from a pension fund client of MorganStanley, he says.

Somera has identified the Denver area as a recovering market"where we can acquire properties and increase value through capitalimprovements and/or enhanced leasing and property managementprograms," says Mitchell, adding that the firm plans to acquireadditional value-add opportunities in the recovering market.Locally based Equity West Investment Partners will represent Someralocally and oversee management and leasing.

The Quorum will be renamed the Offices at the Promenade tobetter reflect its location adjacent to the Belleview Promenaderetail center and $1 million will be spent to renovate lobbies andcommon areas and establish a direct connection with the retailcenter. The property is zoned for approximately 100,000 sf ofadditional office space.