MINNEAPOLIS-A commercial real estate joint venture of Invesco Real Estate and Zeller Realty Group have secured $95 million in financing for the 1.1-million-square-foot Fifth Street Towers complex here at 100 and 150 S. Fifth St. The venture purchased the office property, about 65% occupied, for $110.7 million at a sheriff’s sale in April.

The Minneapolis and Dallas Debt & Equity Finance teams of CBRE arranged the financing with Wells Fargo Bank. The three-year, floating rate financing provides an initial funding of about $62 million, with a commitment to fund additional proceeds of future capital expenditures and leasing costs as the plan to reposition the property unfolds. A CBRE broker on the deal did not return a call for comment.

Strategic Real Estate Advisors had purchased the two 30-year-old towers in 2007 for $186 million, but lost a major tenant, Quest Communication, in 2009. The majority of the equity capital for the investment was provided by the Invesco Mortgage Recovery Fund, Invesco’s real estate opportunity fund, which is co-managed by Invesco, WL Ross & Co. and Invesco Fixed Income.