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Press Releases

KBS Strategic Opportunity REIT Sells Portfolio of 11 Properties for $804 Million

  • November 28, 2017
Press Releases

KBS Strategic Opportunity REIT Sells Portfolio of 11 Properties for $804 Million

  • November 28, 2017
Distinctive Office REIT with Investment Properties in Key US Growth Markets to be Offered through Newly Formed Singapore Real Estate Investment Trust

NEWPORT BEACH, CA. (Nov. 28, 2017) – KBS Strategic Opportunity REIT, Inc., a non-traded real estate investment trust based in Newport Beach, California sold 11 of its properties to various subsidiaries of Keppel-KBS US REIT, a newly formed Singapore real estate investment trust (the “SREIT”) that recently listed on the Singapore Stock Exchange, for $804 million.

The Portfolio consisted of assets strategically located in key US growth markets including Seattle, Sacramento, Denver, Austin, Houston, Atlanta and Orlando. The Portfolio consists of the following properties: 1800 West Loop, Westech 360, Great Hills Plaza, Westmoor Center, Iron Point Business Park, the Plaza Buildings, Bellevue Technology Center, 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 (i) an entity in which Keith D. Hall and Peter McMillan III have an indirect ownership interest in and (ii) Keppel Capital Holding Pte. Ltd. Keith D. Hall and Peter McMillan III are Co-Founders of KBS Capital Advisors. The Offering consists of an international placement of 228,681,800 Units to investors, outside of the US and an offering of 34,090,600 Units to the public in Singapore.

“We believe that the Singapore Transaction was an excellent opportunity to monetize these assets at attractive pricing and to utilize a substantial portion of the net proceeds to invest in new opportunistic investments, as well as current capital projects,” said Keith Hall, Chief Executive Officer and Director of KBS Strategic Opportunity REIT. “We are pleased with the completion of the transaction.”

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Ginny Walker

KBS PR Manager
949-417-6535
gwalker@kbs.com

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  • February 16, 2021
The threat of shorter office lease terms has been looming over the commercial real estate industry for several years. Companies first braced for the potential impact of new standards from the International Accounting Standards Board (IASB) recognizing all leases on the balance sheet, which took effect in January 2019. Then, the office leasing world was hit with additional challenges from COVID-19 as many companies opted to work from home and re-evaluated the role of their physical office space.
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Envisioning the Future of the Built Environment

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Amidst the ongoing crisis, built environments are at the front lines of change and will play a huge role in creating a more resilient world going forward. Office architects are re-envisioning the future of the workplace—where and how we work. Unfortunately, there is no crystal ball to predict exactly what the new future-oriented office will look like, but what we do know is flexibility and adaptability will be key in resilient design.
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Why Texas is becoming a commercial real estate powerhouse

  • January 21, 2021
It looks like 2021 will be another big year for Texas, a year when a lot of major companies will make the jump and move to the Lone Star state. Just look at these transitions:
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