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May 11, 2016

21 buildings sold to KBS for $128M

By JOURNAL STAFF

REDMOND — An entity related to KBS Strategic Opportunity REIT has purchased 21 industrial buildings in Redmond for $128 million, property records show.

The seller is Calwest Industrial Properties. A KBS filing with the U.S. Securities and Exchange Commission in April said they total 778,472 square feet on 41 acres in Redmond.

The buildings in the Westpark portfolio were built between 1984 and 1992, and are 82 percent leased to more than 100 tenants, according to the SEC filing.

According to its website, KBS spent more than $1.2 billion to acquire 4.4 million square feet as of the end of 2015. The REIT is advised by KBS Realty Advisors, a real estate firm based in Newport Beach, California.




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