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The same real estate investment trust that purchased downtown Portland’s First & Main building for $129 million has announced plans to purchase a slew of buildings in the Lloyd District for $92 million.

The San Diego-based REIT, American Assets Trust, will acquire six office buildings – totalling 589,000 square feet of rentable space – on four contiguous blocks in the Lloyd District, as well as the development rights for nearly 1.5 million square feet of transit-oriented, mixed-use space in the area.

The Lloyd District portfolio is being purchased from Ashforth Pacific. It includes the 16-story Lloyd 700 Building, the four low-rise office buildings that make up Oregon Square and a condominium interest in the 20-story Llloyd Tower.

The company will make the purchase with funds from its initial public offering. It expects 92 percent of the rentable space in the portfolio to be leased at the closing of the purchase. Major tenants include Telecom Holdings Inc., Knowledge Learning Corp., PacifiCorp, the Tri-County Metropolitan Transportation District of Oregon and the Columbia River Inter-Tribal Fish Commission.

In a statement on the proposed purchase, John Chamberlain, CEO and president of American Assets Trust, said that in addition to the strong yield from the existing buildings, the firm liked the potential for the proposed mixed-use development.