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Friday, 13 April 2018

KBS Strategic Paying $73Mln for 2 Office Buildings in Franklin, Tenn.

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KBS Strategic Opportunity REIT Inc. has agreed to pay $73 million for two office buildings with 311,864 square feet in the Corporate Centre at Cool Springs complex in suburban Nashville, Tenn.

The Newport Beach, Calif., REIT, whose shares do not trade on any exchange, is buying the two buildings, Eight and Nine Corporate Centre, which sit at 6550 and 6640 Carothers Parkway in Franklin, Tenn., from JPMorgan Asset Management's JPMCB Strategic Property Fund.

KBS Strategic will fund its purchase with a mortgage and some of the proceeds from the sale of 11 office properties to Keppel-KBS US REIT, a...

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“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Nashville
  • States: Tennessee
  • Sector: Office
  • Subject: Property Acquisitions (ACQ)
  • Company: KBS Realty Advisors
  • Valuation: Between $50 million and $100 million
  • Private: Yes
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