Keppel-KBS US Reit hunkers down in Seattle with 3rd asset

Singapore

KEPPEL-KBS US Reit is set to deepen its presence in Seattle with its maiden acquisition of a business campus for some US$169.4 million.

The manager of the Reit (real estate investment trust) said on Monday that the trust has entered into an agreement with KBS SOR Westpark Portfolio to acquire the Westpark Portfolio, which comprises 21 freehold buildings in the Seattle-Tacoma-Bellevue Metropolitan Statistical Area (MSA).

Located in Redmond, the portfolio has a committed occupancy of 97.7 per cent, and a weighted average lease…