Home Alts News KBS Capital Advisors’ Plaza Towers to be Managed by Transwestern

KBS Capital Advisors’ Plaza Towers to be Managed by Transwestern

Non-traded REIT advisor, KBS Capital Advisors, recently revealed that it has named Transwestern as the exclusive property manager for its Plaza Towers in Bellevue, Washington. Located 12 miles East of Seattle, the Class A properties are surrounded by retail and entertainment centers.

The center consists of Plaza Center, a 16-story tower with 345,586 square feet, and U.S. Bank Plaza, a 10-story building with 144,510 square feet. The towers share a six-story parking garage and have an overall occupancy of 79%. The buildings were acquired for KBS Strategic Opportunity REIT in January 2014 for a purchase price of $186.5 million

As a privately held real estate firm, Transwestern specializes in agency leasing, property and facilities management, tenant advisory, capital markets, research, and sustainability.

Mark Jackson, Senior Vice President of Transwestern and leader of the property management team for both properties, commented, “These are two of the premier properties in Bellevue, a town that has emerged into a world-class destination for employment opportunities and residential living. We are honored to have been chosen by KBS Capital Advisors for this high-profile management assignment.”

Since its founding in 2006, KBS Capital Advisors has invested over $11.1 billion in commercial real estate and real estate related investments and has completed over $30 billion in real estate transactions through six institutional commingled funds, 14 separate accounts with public and corporate pension funds, five sovereign wealth funds, and five non-traded REITs.