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PORTLAND (AP) – The charitable trust established by the late philanthropist Elizabeth Noyce has completed the sale of its remaining downtown properties, including the Portland Public Market, officials said Wednesday.

The Libra Foundation confirmed that it signed a purchase-and-sale agreement for the seven properties. Libra had hoped to gross more than $65 million on the deal, but Libra declined to confirm the actual sale price.

Foundation President Owen Wells also declined to name the buyer of the buildings, which include three towers in Canal Plaza and the Maine Bank & Trust Building. Also included in the deal were 1,000 parking spots.

The Public Market, a farmers market that was a bold experiment in urban renewal when it opened in 1998, will no longer serve as a market.

Many of the vendors already saw the writing on the wall and chose to leave. Only 13 were still open as of Wednesday, WCSH-TV reported.

Libra was established by Noyce, the ex-wife of a founder of Intel Corp. When she died in 1996, the foundation received $200 million from her estate that it uses for programs and facilities that benefit the state.

Libra’s purchase and renovation of the downtown buildings starting in the early 1990s aided in Portland’s economic recovery. Along the way, Libra became the largest taxpayer and private property owner in downtown Portland.

Wells said previously that the plan all along was to sell all of the buildings eventually.

In 2002, Libra separately listed and sold four landmark downtown properties that fetched roughly $34 million. The sale of Libra’s remaining buildings with 724,812 square feet of space takes advantage of a hot commercial real estate market.

If it grossed more than $65 million, it would be the biggest real estate deal in the city’s history, commercial brokers have said.

AP-ES-05-31-06 1901EDT


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