KBS Strategic Opportunity REIT Purchases Value-Add Property in Hollywood
Non-Traded REIT Acquires Majority Interest in the 1635 N. Cahuenga Building
(firmenpresse) - NEWPORT BEACH, CA -- (Marketwire) -- 08/10/11 -- KBS Strategic Opportunity REIT has acquired a majority interest in a 34,711-square-foot building, located at 1635 N. Cahuenga Blvd. in Los Angeles, between Sunset and Hollywood boulevards in the heart of Hollywood.
Constructed in 1983 and renovated in 1997, the 1635 N. Cahuenga Blvd. building is a six-story, multi-tenant, entertainment-focused office building located two blocks south of Route 101 (the Hollywood Freeway) and various Hollywood entertainment destinations.
KBS Strategic Opportunity REIT is a public non-traded real estate investment trust that intends to invest in and manage a diverse portfolio of real estate-related loans, real estate-related debt securities and other real estate-related investments. KBS Strategic Opportunity REIT was sponsored indirectly by Charles J. Schreiber, Jr., Peter Bren, Keith Hall and Peter McMillan III and is advised by KBS Capital Advisors LLC, an affiliated entity which is indirectly owned and controlled by KBS Strategic Opportunity REIT's sponsors.
KBS Capital Advisors is an affiliate of KBS Realty Advisors LLC, a private equity real estate company and SEC-registered investment advisor founded by Peter Bren and Charles J. Schreiber, Jr. Since 1992, KBS Realty Advisors and its affiliated companies have completed transactional activity of approximately $20 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and five non-traded REITs. For information, visit .
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including KBS Strategic Opportunity REIT's ability to invest in and manage a diverse portfolio. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS Strategic Opportunity REIT's or 1635 N. Cahuenga Blvd.'s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Cindy Tullues or Bob Ochsner
DGWB for KBS Realty Advisors
(714) 881-2310
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Datum: 10.08.2011 - 15:00 Uhr
Sprache: Deutsch
News-ID 44676
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NEWPORT BEACH, CA
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Commercial & Investment Banking
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