KBS Growth & Income REIT Acquires First Property

KBS Growth & Income REIT, a publicly registered non-traded real estate investment trust based in Newport Beach, California, acquired its first property, the Von Karman Tech Center in Irvine, California.

Built in 1980 and renovated in 2013-2014, the two-story, multitenant office property features 101,161 rentable square feet of space. It is located in the center of the Irvine Business Complex near the intersection of Von Karman Avenue and Alton in the Irvine airport area. The property benefits from a “live-work-play” location that features a growing collection of retail amenities and residential developments nearby. It is currently 100 percent leased and its largest tenant is Hosting, a cloud computing and database services company. 

KBS Regional President Rodney Richerson, said, “The property offers tenants creative workspace options coupled with an extensive list of amenities in the surrounding neighborhood, which is beneficial for tenants and their employees.”

KBS Capital Advisors is KBS Growth & Income REIT’s external advisor and is an affiliate of KBS Realty Advisors, a private equity real estate company and registered investment adviser. Since its inception, KBS-affiliated companies have completed transactional activity in excess of $32 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and six non-traded real estate investment trusts.

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