KBS Strategic Opportunity REIT II to Buy Nevada Office Building

KBS Strategic Opportunity REIT II Inc., a publicly registered non-traded real estate investment trust, entered into an agreement to purchase 2200 Paseo Verde in Henderson, Nevada from an unnamed seller for approximately $13.4 million plus closing costs.

Built in 2004, 2200 Paseo Verde is an office building that contains 59,818 rentable square feet located on approximately 3.5 acres of land. The property is currently 78 percent leased to nine tenants, with a weighted-average remaining lease term of approximately 2.6 years.

The REIT intends to fund the purchase with proceeds from a mortgage loan from an unaffiliated lender and proceeds from its offering.

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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