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March 26, 2012

CBRE group takes over iconic Smith Tower

SEATTLE — As expected, a group connected to CBRE Capital Markets took ownership of the iconic Smith Tower at a foreclosure auction Friday.

CBRE acquired the notes on the mostly vacant high-rise last fall. CBRE, the sole bidder on Friday, bid nearly $36.8 million for the 42-story tower and the two-story Florence Building next door, The Seattle Times reported.

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