July 20, 2016 Comments Off on KBS Legacy Partners Divesting Entire 3K-Unit MF Portfolio Views: 961 California News, West

KBS Legacy Partners Divesting Entire 3K-Unit MF Portfolio

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KBS Legacy Partners Apartment REIT Inc., a publicly registered non-traded real estate investment trust sponsored by Newport Beach, CA-based KBS Capital Advisors and affiliates of Foster City, CA-based Legacy Partners Residential Realty, is divesting an 11-property multifamily portfolio. The properties were originally purchased between 2010 and 2014 for an aggregate purchase price of $412 million.

The portfolio totals more than 3 million square feet and encompasses garden-style and mid-rise communities with an overall occupancy rate of roughly 95%. The assets are spread across seven states in the Midwest, South, East Coast and Southwest.

Holliday Fenoglio Fowler (HFF) is handling the sale of the 3,039-unit portfolio, which can be purchased in its entirety, as a subset of pooled assets, or individually.

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