June 3, 2016
Newport Beach, CA-based KBS Capital Markets Group is testing the waters for a massive asset divestment. KBS’ board of directors formed a special committee to “explore strategic alternatives” for holdings of four REIT’s that involves nearly 400 properties, as well as debt assets valued at more than $3.9 billion.
In recent weeks, KBS Real Estate Investment Trust I and II quietly indicated plans to divest assets. Previously, KBS Legacy Partners Apartment REIT and KBS Strategic Opportunity REIT, undertook similar liquidation plans.
The distributor engaged three CRE financial advisors, Evercore Group LLC, Robert A. Stanger & Co. and NGKF Capital Markets, to solicit interested buyers for individual assets or as a larger portfolio transaction. KBS Capital, which connects financial advisors and its clients to KBS-sponsored REITs, has launched seven non-traded REITs since the onset of the Great Recession.