WASHINGTON, DC—Stephen Close has been promoted to KBS Senior VP/market leader for the Mid-Atlantic region. He will be managing a portfolio totaling more than 2.3 million square-feet as well as helping to identify new acquisition opportunities in the Mid-Atlantic.
That latter point will be key for KBS as its works to meet its informal goal of at least $1 billion in acquisitions this year, KBS Capital Advisors Regional President Marc DeLuca tells GlobeSt.com. DeLuca has been handling the acquisition sourcing for the region and for Washington DC due to personnel changes at the regional office. Now that he helped to usher along Close’s promotion “that will be part of his duties-to generate more activity and find more product.”
Close has been with KBS Realty Advisors since 2005, most recently as a senior investment analyst. Office assets owned by KBS-affiliated companies that will now be overseen by Close include Dulles Station East,Tysons Dulles Plaza I, II & III, Willow Oaks Corporate Center, and Redwood Plaza I, II & III in Virginia; and One Washingtonian Center in Maryland. Close also will continue as the asset manager for Woodbridge Corporate Plaza in Iselin, N.J.