The buildings are located at the south end of Downtown, near thesports stadiums. The properties are known as the FX McRory'sBuilding, Grand Central Building, Seattle Quilt Building and theMaynard Building. Don Fosseen, Lou Senini, Dan Dahl and Dave Gurrywith CB Richard Ellis brokered the sale.

To close the deal, Intracorp secured a $26.6-million acquisitionloan from GE Real Estate that was sourced by CBRE/Melody. Thefive-year fixed-rate, on-book loan was for the Grand Central,Seattle Quilt and Maynard buildings and includes money for futuretenant improvements and leasing commissions. The LTV wasapproximately 75%. The seller reportedly provided Intracorpfinancing for the FX McRory's Building acquisition.

GE Real Estate's Portland, OR-based senior director KyleWilliams tells GlobeSt.com that Intracorp plans to hold the assetslong-term and add value by marking rents to market as leases roll."Average rents in the area are in the mid-$20s and the average rentin the portfolio is in the high teens," he says.