KBS's $269M Portfolio Buy Includes Once-Elusive Md. Building

Law360, New York (June 20, 2013, 1:52 PM EDT) -- A KBS Capital Markets Group LLC trust has bagged its biggest catch to date: a $269 million trophy office portfolio from CBRE Institutional Group that includes a Maryland building it lost out on two years ago and two new Dallas assets, it said Thursday.

KBS Real Estate Investment Trust III is funding the purchase with a $170.8 million mortgage loan from Bank of America NA and proceeds from its ongoing initial public offering, according to a filing with the U.S. Securities and Exchange Commission. The deal...
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