John Carter, EVP for the real estate firm Carter, advised StratREAL on the deal. His company will take over management of the two assets. "The company views these two markets as improving markets," he tells GlobeSt.com. "StratREAL is also definitely taking the long-term view; they don't buy with the intention of selling in a year or two years."

Fifth Street Towers includes the 25-story Tower 100 and the 36-story Tower 200. Both have undergone extensive renovations since they were built in the mid-1980s. Tenants of the two buildings, about 83% occupied, include Augsburg Fortress, law firm Leonard Street & Deinard, Qwest and Lexis-Nexis. The property includes a skyway bridge, underground parking, a health club and service retail. Sources say the complex, which was bought in August 2004 for $117.2 million, sold to StratREAL for $173.3 million. Lease rates in the Minneapolis area average $26.06 per sf, according to a third quarter market report by Grubb & Ellis.

The 412,000-sf RiverPark was built in 1983 on 15 acres that was formerly the home of the Darien Golf Range in Norwalk. Tenants in the 97%-leased property include the Georgia-Pacific Corp., Priceline.com and the Hitachi Credit America Corp.