KBS Strategic Opportunity REIT II Closes on $13.4 Million Nevada Office Property

KBS Strategic Opportunity REIT II, a publicly registered non-traded real estate investment trust, completed its purchase of 2200 Paseo Verde, a 59,818-square-foot, Class A office property in Henderson, Nevada for $13.4 million. The REIT signed the purchase agreement in mid-December, as reported by The DI Wire.

2200 Paseo Verde is the only traditional office property located at The District at Green Valley Ranch, a 450,000-square-foot mixed-use retail, office and residential destination. The office building is approximately 10 miles from the Las Vegas strip and 6.5 miles from McCarran Las Vegas International Airport. It is surrounded by the suburb of Henderson, an expansive master planned community.

“We believe that 2200 Paseo Verde will be a great addition to the KBS Strategic Opportunity REIT II portfolio,” said Brian Ragsdale, executive vice president at KBS. “Its location in the central business district of Henderson and the growing office market of southern Nevada has attracted high-quality tenants, and we believe it will continue to do so.”

“2200 Paseo Verde’s location within the District and proximity to nearby amenities and housing, accessibility from major thoroughfares, and quality will make for a pleasant tenant experience,” said Holden Slusher, assistant vice president at KBS. “We are looking forward to offering tenants an unparalleled office experience.”

KBS Strategic Opportunity REIT II invests in and manages a portfolio of real estate-related loans, opportunistic real estate, real estate-related debt securities and other related investments located in the United States and Europe.

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