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Invesco Institutional, a Dallas-based institutional investment company, has acquired the 332-unit Ladd Tower apartment building in downtown Portland for $79.35 million.

According to the company’s website, Invesco Institutional acquired the 21-story, 271,000-square-foot mixed-use building from U.S. Bank in late November.

The Portland-based development firm Opus Northwest delivered the building, located at 1300 S.W. Park Ave., to the market in 2008. The project was originally supposed to be condominiums but Opus decided to convert the units into apartments because of bad condominium sales.

After putting the building on the market in July and never reaching a deal with anyone, Opus turned the keys over to U.S. Bank in late August via a deed in lieu of foreclosure. Opus had an $82 million construction loan from U.S. Bank for the building.

In addition to the residential units, the building has 4,000 square feet of retail space and 17,000 square feet of parking space. It was certified Leadership in Energy and Environmental Design gold by the U.S. Green Building Council in 2009.