The Denver seller and Houston buyer have declined to comment onthe transaction at this time, but confirmed it was in the works andthe earnest money would go hard any day. Renaissance Square,situated at 2 N. Central Ave. and 40 N. Central Ave., is 95%leased, according to a Nov. 15 filing with the SEC.

Melinda Korth, executive vice president for CB Richard Ellis inPhoenix, says the class A trophy, built in the 1980s, is a perfectfit for the Hines portfolio. "Hines is actively looking forinvestment and development opportunities and they want to keep acertain level of standard in terms of the properties they'reinvolved in. They like high-end, class A office properties andupscale retail mixed-use," says Korth, who isn't involved in thetransaction, but is very familiar with Renaissance Square.

Korth tells GlobeSt.com that Pauls Corp. bought both buildingsin separate deals in 2005 and didn't make any major renovationsbeyond standard tenant improvements. She says given the currentshape of the buildings, Hines likely won't have too much toupgrade, either.