BALTIMORE, MD—Yesterday we reported that a source told us that KBS Realty Advisors, a Newport, CA-based REIT, is buying Thames Street Wharf here for between $88 million and $90 million. This morning the news became official: the REIT announced the acquisition of the 260,651-square-foot building for $89 million. Thames Street Wharf, LLC, an entity controlled by Michael S. Beatty, president of Beatty Development Group is the seller.

Here are updates to the transaction from our news report yesterday:

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