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KBS Strategic Opportunity REIT Buys Washington Portfolio for $128 Million

May 13, 2016

May 12 2016 | by DI Wire

KBS Strategic Opportunity REIT, a publicly registered non-traded real estate investment trust, purchased the Westpark Portfolio in Redmond, Washington for $128 million.

“The dynamic location of the Westpark Portfolio presents a compelling opportunity for KBS, and tenants will enjoy the live-work-play environment, mass-transit options and accessibility,” said Jeff Rader, senior vice president and asset manager at KBS. “Redmond is a thriving market catering to a young, well-educated workforce, and we are pleased to add this asset to the KBS Strategic Opportunity REIT portfolio.”

The Westpark Portfolio is a 21-building, 778,472-square-foot property encompassing three office and industrial parks. It is currently 82 percent leased, to a roster of tenants representing numerous industries including media, manufacturing, IT services, wholesale, software and engineering.

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Thomas E. Burns, III
July 29, 2015
February 22, 2016

I subscribe to Blue Vault to keep up with the sponsors and their wholesalers! The analysis keeps me up to date with the various portfolios and the way they are managed, including the differences between them.