UBS Plaza in St. Paul Sells; Fetches $14 million in Sale

UBS Plaza, the 25-story office building in downtown St. Paul, has been sold to an Atlanta-based buyer.

Finance & Commerce reports on the $14.15 million deal for the 229,652-square-foot building, one of two towers in downtown St. Paul's Town Center block. The other tower, the 27-story Bremer Tower, wasn't part of the sale.

The buyer was an entity called CIG-UBS out of Atlanta, which bought the building from RAIT Financial Trust of Philadelphia.

RAIT acquired UBS Plaza in 2012 from Minneapolis-based Hempel, though terms weren't released at the time. Hempel bought the property in 2006 for $15 million.

UBS Plaza, which was developed in 1980, has a vacancy of about 27 percent. Tenants include UBS Financial, architecture and engineer firm TKDA and Godfrey & Fox Law Firm.