ORANGE COUNTY, CA-Newport Beach-based KBS Realty Advisors has announced that its initial public offering for KBS Real Estate Investment Trust III has become effective. Last month, a KBS fund had signed a deal to purchase 601 Tower at Carlson Center, a 15-story, 288,000-square-foot office building in Minnetonka, MN, from Teachers Insurance and Annuity Association-College Retirement Equities Fund for $54.4 million.
KBS is now under a contract to acquire the Gateway Corporate Center, a 235,000-square-foot office complex in Sacramento, for $47.5 million. For the full story, go to Orange County Business Journal.
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
