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KBS Strategic Opportunity REIT to Buy San Francisco Office Building for $170 Million

May 17, 2016

KBS Strategic Opportunity REIT Inc., a publicly registered non-traded business development company, entered into an agreement to purchase 353 Sacramento in San Francisco for $169.5 million plus closing costs. The seller, Pacific EIH Sacramento LLC, is not affiliated with the company.

Built in 1982, the class A, 284,800-square-foot office building sits on 0.35 acres of land in the city’s financial district. 353 Sacramento is currently 87 percent leased to 25 tenants, with a weighted-average remaining lease term of approximately 2.2 years.

KBS Strategic Opportunity REIT deposited $1 million towards the purchase of the property.

KBS Strategic Opportunity REIT, which went effective in November 2009 and closed in November 2012, raised $561.7 million in its primary offering and has sold $56 million in DRIP shares, according to the most recent quarterly filing with the Securities and Exchange Commission.

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Gordon Dunne
September 30, 2019

“Always, but especially in this day of lawsuits and ever increasing regulations, the responsibility for a financial advisor t do their own due diligence on products they sell falls squarely on themselves. No one is going to take greater interest in protecting their practice than they are. We use the Blue Vault Partners Nontraded REIT Review to keep us informed of the performance of every single nontraded REIT. Finally, complete transparency is available for advisors using nontraded REITs. Every advisor using REITs in their practice should make the small annual investment of subscribing to Blue Vault’s reporting services.”