Keppel, KBS Forming New REIT to Acquire $800 Million U.S. Office Portfolio

by | Oct 16, 2017 | Commercial Real Estate News

Tags:
— Commercial Sales, Leasing, Real Estate, Consulting, and Brokering in Quincy, MA serving all the south shore including Quincy, Weymouth, Braintree, Milton, and Boston Massachusetts.

Keppel, KBS Forming New REIT to Acquire $800 Million U.S. Office Portfolio

Singapore-based Keppel Corp. has received approval to launch a new REIT on the Singapore Exchange and has reached a deal for that REIT to acquire 11 U.S. office properties from Newport Beach, CA-based KBS Strategic Opportunity REIT, a nontraded REIT.

The properties have not been specifically identified nor has a final purchase price been set. However, KBS currently values the portfolio at $800 million with $400 million in outstanding debt, according…

Article From: "Key Realty Commercial Real Estate News"   Read full article