MINNEAPOLIS-Invesco Ltd., joined by minority investors WL Ross & Co. LLC and Zeller Realty Corp., have a plan to lease up the 65% occupied Fifth Street Towers here. The venture purchased the 1.1-million-square-foot office complex at 100 and 150 S. Fifth St., for $110.7 million at a foreclosure auction.

CBRE Investors Inc. sold the two-tower complex, built in the mid-1980s, to Strategic Real Estate Advisors for $186 million in 2007. Quest Communication vacated 200,000 square feet, leaving the site at 75% occupied in 2009.

The Invesco-led venture is planning to reposition the property by providing capital necessary for leasing, according to a statement. James Gearen, president of Zeller, said his firm’s experience in Minneapolis should also help with leasing up the buildings. “Most recently, we took LaSalle Plaza from 65% to 95% occupancy,” he said.