Private equity firm Viking Partners LLC's Viking Partners Fund IV LLC bought the 404,425-square-foot, seven-story Towers of Kenwood office building in north suburban Cincinnati.

The purchase was made for $80.6 million in a joint venture with a fund managed by DRA Advisors LLC, the Cincinnati Business Courier reported, citing property records. The seller was a joint venture of Hines and a unit of a real estate fund managed by Oaktree Capital Management LP.

Viking and DRA plan to make capital improvements on the 97%-occupied building.