California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
KBS REIT Divests 11 Assets for $804M
Newport Beach, CA-based KBS Strategic Opportunity REIT, Inc., sold 11 properties to various subsidiaries of Keppel-KBS US REIT for $804 million. The buyer is a newly-formed Singapore real estate investment trust (SREIT) that recently listed on the Singapore Stock Exchange.
The portfolio consisted of assets located in key US growth markets, including Seattle, Sacramento, Denver, Austin, Houston, Atlanta and Orlando. Properties included: 1800 West Loop, Westech 360, Great Hills Plaza, Westmoor Center, Iron Point Business Park, the Plaza Buildings, Bellevue Technology Center (pictured), Northridge Center I and II, West Loop I and II, Powers Ferry Landing East, and Maitland Promenade II.
The SREIT and its underlying properties will be externally managed by a joint venture between an entity in which Keith D. Hall and Peter McMillan III have an indirect ownership interest in, and Keppel Capital Holding Pte. Ltd. Hall and McMillan III are Co-Founders of KBS Capital Advisors.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


