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Keppel-KBS US REIT Expands Seattle Footprint with $169M Acquisition

Keppel-KBS US REIT Management Pte. Ltd., manager of Keppel-KBS US REIT, announced that Keppel-KBS US REIT entered into an agreement with KBS SOR Westpark Portfolio, LLC to acquire the Westpark Portfolio, a 21-building business campus in in Redmond, WA for $169.4 million.

Keppel-KBS US REIT’s David Snyder says, “The acquisition of the Westpark Portfolio will strengthen Keppel-KBS US REIT’s foothold in the high growth Seattle MSA. This will allow the REIT to capitalize on strong leasing demand from the technology and professional services sectors in a supply-constrained market, with limited sites available for competitive new development. At the same time, Seattle, being one of the strongest office markets in the United States, will allow the REIT to benefit from steady rent growth of approximately 4% by 2020.”

The Westpark Portfolio is Keppel-KBS US REIT’s third asset in the Seattle MSA.

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Read more at Keppel-KBS US REITConnect With Keppel-KBS US REIT’s Snyder

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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