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KBS REIT Sells Portfolio to New Singaporean REIT for $804M

By Tony Seruga

The new REIT, listed on the Singapore Stock Exchange, will focus on office real estate in key U.S. growth markets.

KBS Strategic Opportunity REIT Inc., a non-traded REIT based in Newport Beach, Calif., sold 11 properties totaling a net leasable area of about 3.2 million square feet to subsidiaries of Keppel-KBS US REIT for $804 million, the seller announced Tuesday. The buyer is a newly formed Singaporean REIT that recently listed on the Singapore Stock Exchange.

The new REIT and its underlying properties will be externally managed by a joint venture between Keppel Capital Holdings Pte. Ltd. and an entity in which KBS Capital Advisors Co-Founders Keith D. Hall and Peter McMillan III have an indirect ownership interest…

KBS REIT Sells Portfolio to New Singaporean REIT for $804M

Categories : Commercial Real Estate

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