HOUSTON-M-M Properties has acquired 919 Milam, a 24-story, 542,919-square-foot office tower in downtown, in an all-cash deal.

The local owner purchased the class A- property for an undisclosed amount from PNC Realty Services, which foreclosed on the asset earlier this year. However, local experts tell GlobeSt.com 919 Milam sold for roughly $110 per square foot, which translates to a sale price of $59.7 million.

Owned by Chicago-based Transwestern Investment Co. since 2007, 919 Milam attracted interest from a variety of buyers including both private and institutional investors, according to Russell Ingrum, executive vice president of CB Richard Ellis’ local office. He represented the seller, along with Gary Carr and Todd Casper, also of CB Richard Ellis.