SAN ANTONIO, TX—Non-traded REIT KBS Real Estate Investment Trust III has acquired 100% of the outstanding shares of common stock of the fee owners of two multi-tenant office buildings known as Promenade I & II at Éilan. A company spokeswoman declined to disclose the purchase price.

Located at 17806 & 17802 IH-10 in San Antonio and totaling 200,072 rentable square feet, Promenade I & II at Éilan were built in 2011. The two properties boast a variety of amenities on- and offsite, including easy access to San Antonio's two largest shopping centers, The Rim and The Shops at La Cantera.

“Beyond the exceptional amenities, the properties have remarkable architectural elements including high-quality finishes throughout the building's interior,” says Giovanni Cordoves, SVP at KBS. “We believe that the properties' location combined with the walkable amenities within Éilan as well as those offered by the immediately surrounding areas will offer tenants the mixed use and energetic environment that is desired by modern tenants.”