MINNEAPOLIS-Invesco Ltd., joined by minorityinvestors WL Ross & Co. LLC and ZellerRealty Corp., have a plan to lease up the 65% occupiedFifth Street Towers here. The venture purchasedthe 1.1-million-square-foot office complex at 100 and 150 S. FifthSt., for $110.7 million at a foreclosure auction.

CBRE Investors Inc. sold the two-tower complex,built in the mid-1980s, to Strategic Real EstateAdvisors for $186 million in 2007. Quest Communicationvacated 200,000 square feet, leaving the site at 75% occupied in2009.

The Invesco-led venture is planning to reposition the propertyby providing capital necessary for leasing, according to astatement. James Gearen, president of Zeller, saidhis firm’s experience in Minneapolis should also help with leasingup the buildings. “Most recently, we took LaSalle Plaza from 65% to95% occupancy,” he said.