UNLOCK THE POWER OF THE VAULT

KBS Eyes Raising $105Mln for Private REIT

September 9, 2015

Friday, 04 September 2015

Commercial Real Estate Direct Staff Report

KBS Realty Advisors, an investment manager with a substantial presence in the non-traded REIT business, is aiming to raise $105 million for KBS Growth & Income REIT Inc.

The Newport Beach, Calif., company is raising the capital through its KBS Capital Markets Group affiliate, which will earn a 6.5 percent selling commission.

The latest REIT is similar, in most regards, to KBS’ earlier non-traded entities. But instead of setting a $10 sales price for its shares, KBS is selling shares for $10,000 each. In addition, the offering is not public. Shares are being pitched to a small subset of the investor universe that typically is targeted by other KBS offerings.

KBS Growth already has made an investment, buying the 101,161-square-foot Von Karman Tech Center in Irvine, Calif., that’s fully leased to Hosting, a database-services company.

KBS was founded by Peter Bren and Charles Schreiber in 1992. Since then, it has completed some $32 billion of transactions through 14 separate accounts, six commingled funds and six non-traded REITs.

http://www.crenews.com/general_news/general/kbs-eyes-raising-$105mln-for-private-reit.html

Print Friendly, PDF & Email
Go Back
Gregory De Jong, CFP, Co-Founder of Paragon Advisors, LLC.
July 7, 2015

Blue Vault is just what advisors need to size up the different offerings in the nontraded REIT market. Just as importantly, it’s what the industry needs to encourage best practices among REITs.