KBS Taps HFF to Market 7-State Portfolio

CHICAGO—The non-traded KBS Legacy Partners Apartment REIT acquired the 11-property multifamily portfolio in individual transactions between 2012 and 2014.

Wesley Village in Charlotte, NC

CHICAGO—KBS Capital Advisers LLC has tapped HFF to market an 11-property, seven-state apartment portfolio on behalf of KBS Legacy Partners Apartment REIT. The 3,039-unit portfolio represents the entirety of KBS Legacy Partners, a non-traded public REIT sponsored by KBS Capital and affiliates of Legacy Partners Residential Realty.

An HFF spokeswoman tells GlobeSt.com that the seller has a target of about $500 million for the entire portfolio, which may also be acquired as a subset of pooled assets or as individual properties. CoStar Group reported that the offering is part of a broader plan by KBS Capital Markets Group to liquidate holdings in some of its REITs.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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