Pierre_Leclede Exterior

KBS and HFF Partner to Close the Sale of the Pierre Laclede Center in Clayton, Missouri

NEWPORT BEACH, Calif. (May 23, 2019) – KBS, one of the largest owners of commercial real estate and Holliday Fenoglio Fowler, L.P. (HFF) announced today the sale of the Pierre Laclede Center, an iconic, two- building, Class A office complex totaling 579,846 square feet in the St. Louis- area city of Clayton, Missouri. HFF marketed the property on behalf of the seller, KBS. The property was purchased by Lingerfelt CommonWealth Partners, a national real estate investment management firm based in Richmond, Virginia. The Pierre Laclede Center was part of the KBS Real Estate Investment Trust II portfolio.

Purchased in 2010, the Pierre Laclede Center offers easy access to both downtown St. Louis and the Lambert International Airport via nearby Interstates 170 and 64. The Pierre Laclede Center comprises two high-rise office towers located at 7701 and 7773 Forsyth Boulevard in the heart of

Clayton’s central business district. The property is a long-established business destination that combines distinctive features, extensive amenities and core location. Pierre Laclede Center’s unrivaled amenity base includes an outdoor veranda/patio area, conference rooms, fitness centers, café, deli, on-site concierge and car washing. Additionally, The St. Louis Club, a premier private-dining club, occupies the top floor of the Pierre Laclede Center and offers views of downtown and the St. Louis arch. The property is within walking distance to Clayton’s burgeoning restaurant and retail scene as well as public transportation.

“The Pierre Laclede Center is a dynamic property in the Clayton office market,” said Dan Park, senior vice president for KBS and asset manager of the property. “We are excited for the new owners and hope they carry on the legacy of this iconic asset.”

The Clayton area experienced a tightened vacancy rate for its Class A properties at 3.8 percent in the first quarter of 2019 according to CBRE St. Louis Office Market View Q1 2019. Moreover, the Missouri unemployment rate hit 3 percent, its lowest in 50 years, which proved the market’s viability.

“The Pierre Laclede Center is unique to the St. Louis area, which reflects directly on the continued demand of leasing we’ve seen at the property,” said Marc DeLuca, regional president, Eastern United States for KBS. “We anticipate that the new owner will see the same success that we have had in the area.”

The HFF investment advisory team representing the seller included senior managing directors Jaime Fink, Jeffrey Bramson and Danny Kaufman and directors Bryan Rosenberg, Patrick Shields and Sam DiFrancesca. Lingerfelt CommonWealth will own the tower via its discretionary investment vehicle, Lingerfelt Commonwealth Value Fund II. Commonwealth Commercial Partners, an affiliated commercial real estate operating firm (also based in Richmond, VA), will open its 14th U.S. office in Clayton and will handle all aspects of the day-to-day asset and property management for the Pierre Laclede Center, in addition to servicing assets for other owners in the St. Louis metro.

“The Pierre Laclede Center presented investors with a unique opportunity to invest in Clayton, which is the undisputed preferred choice of office tenants in the St. Louis metropolitan area,” Fink said. “The core asset offered substantial upside given its highly sought-after infill location combined with the institutional quality of the buildings.”

Please find photos of Pierre Laclede Center here.

Industry Coverage at: Bloomberg and CPExecutive

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to KBS Real Estate Investment Trust II’s ability to invest in and manage a diverse portfolio, and the performance of Pierre Laclede Center and of the Clayton real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS Real Estate Investment Trust II’s and/or Pierre Laclede Center’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.

About KBS

KBS is a private equity real estate company and an SEC-registered investment adviser. Founded in 1992 by Peter Bren and Chuck Schreiber, it is recognized as one of the largest commercial office owners globally. Since inception, KBS-affiliated companies have completed transactional activity of approximately $40 billion via 16 separate accounts and six commingled funds, for government and corporate pension funds. Additionally, KBS has sponsored five sovereign wealth funds and seven SEC-registered, non-traded REITs. For more information on KBS, its properties and real estate portfolios, please visit KBS.com. For information about KBS’ current offerings, please visit KBSDIRECT.com, an online portal for self-directed accredited investors to participate in institutional-quality real estate without paying up-front fees or commissions. Registration as an investment adviser does not imply any particular level of skill or training.

ABOUT LINGERFELT COMMONWEALTH PARTNERS

Lingerfelt CommonWealth Partners, headquartered in Richmond, VA, is a vertically integrated, full service real estate investment management firm with additional offices Hampton Roads VA, Nashville TN, Jacksonville FL, Tampa FL, Greensboro NC, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Houston TX, Kansas City MO, St. Louis, MO, and Reading PA. Together with its predecessors in the private sector and public REIT sector, its partners have built, acquired and managed nearly 20 million square feet of commercial real estate valued at approximately $2 billion across the Mid-Atlantic and Southeast. Learn more at: www.lingerfeltcommonwealth.com.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

CONTACTS:

JAIME FINK
HFF Senior Managing Director
(312) 528-3650
jfink@hfflp.com

JEFFREY BRAMSON
HFF Senior Managing Director
(312) 528-3650
jbramson@hfflp.com

DANNY KAUFMAN
MO Lic. #2012028715
HFF Senior Managing Director
(312) 528-3650
dkaufman@hfflp.com

OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3403
ohennessey@hfflp.com

CHRIS SULLIVAN
MacMillan Communications for KBS
(212) 473-4442
chris@macmillancom.com

GINNY WALKER
KBS Public Relations Manager
(949) 417-6535
gwalker@kbs.com

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KBS Renews 40,000-Square-Foot Lease with Cushman & Wakefield at Northland Center

NEWPORT BEACH, Calif. (May 23, 2019) — KBS, one of the largest owners of commercial real estate, announced today that Cushman & Wakefield renewed its 39,565 square foot lease at Northland Center in Bloomington, Minnesota. To add further appeal to the property, KBS plans to modernize the 40,000sf concourse level adding to the amenities already available to tenants.

With 492,514sf of rentable space, Northland Center is located in the heart of the Southwest suburban commercial district at the intersection of I-494 and France Avenue with close proximity to the airport and bordering the highly affluent city of Edina, Minnesota. Its location provides an abundance of shopping, dining, hospitality and entertainment options including the Edina Galleria.

The Twin Cities unemployment rate dropped 40 basis points from fourth quarter 2017 to a 19-year low of 2.6 percent. With constrained labor availability, employers continued to be creative and aggressive in talent retainment according to Cushman & Wakefield’s Twin Cities Q4 2018 Market Report. Leasing activity was steady and overall absorption nearly reached 540,000sf. Absorption is expected to tick higher in the first half of 2019 with a forecast of approximately 620,000sf of positive absorption.

Northland Center has an unmatched amenity package that includes a full-service café, a sky-lit atrium lounge with free WiFi, full-service hair salon, dry cleaning, shoe repair, a recently renovated 5,000sf fitness center with group exercise studio, lockers and showers, covered parking with 140 climate controlled parking stalls, on-site car wash and much more. To make it an even better “best-in-class” experience, KBS plans to add two new conference rooms and a number of breakout and lounge areas.

“Northland Center offers an excellent value with regard to a substantial amenity package that enhances the day- to-day experience for our tenants and visitors,” said Giovanni Cordoves, senior vice president of acquisitions/co- director of asset management for KBS, and asset manager for the property. “Additionally, the surrounding area and its bountiful retail, hospitality, shopping and entertainment offerings are key selling points for many tenants and have helped drive the property’s success.”

“We’re excited to bring our vision of ‘What’s Next’ at Cushman & Wakefield to our space at Northland Center,” said Mike Ohmes, managing principal, Cushman & Wakefield. “The property has always allowed us to attract and retain employees effectively, thanks to its premier, accessible location and abundant amenities. Our renovated space will reflect that premier status.”

Northland Center was the first suburban office building in the Twin Cities to achieve LEED Existing Building Operations and Maintenance (EBOM) – Silver Certification. The building has also received an Outstanding Building of the Year award from the Building Owners and Managers Association (BOMA). Northland Center’s sustainability team continually seeks out and implements energy saving measures that lower tenant energy costs and creates a healthier environment. The building is currently going through Wired Certification. Once achieved it will the first one in the area with such certification.

“We acquired Northland Center knowing that it had a wealth of amenities and that with continued enhancements it would remain attractive to top tier companies,” said Rod Richerson, regional president, Western United States for KBS. “We are pleased to continue our relationship with such a premier tenant.”

Cushman & Wakefield provides leasing and property management at Northland Center, with Kris Harris acting as Property Manager. Bill Rothstein and Dan Wicker with Cushman & Wakefield represented KBS.

Please find photos of the property here.

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to KBS’s ability to invest in and manage a diverse portfolio, and the performance of the Northland Center Building and of the Bloomington real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS’s and/or the Northland Center Building’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.

Industry Coverage at Connect CRE and at Yahoo

About KBS
KBS is a private equity real estate company and an SEC-registered investment adviser. Founded in 1992 by Peter Bren and Chuck Schreiber, it is recognized as one of the largest commercial office owners globally. Since inception, KBS-affiliated companies have completed transactional activity of approximately $40 billion via 16 separate accounts and six commingled funds, for government and corporate pension funds. Additionally, KBS has sponsored five sovereign wealth funds and seven SEC-registered, non-traded REITs. For more information on KBS, its properties and real estate portfolios, please visit KBS.com. For information about KBS’ current offerings, please visit KBSDIRECT.com, an online portal for self-directed accredited investors to participate in institutional-quality real estate without paying up-front fees or commissions. Registration as an investment adviser does not imply any particular level of skill or training.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for
real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with
approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across
core services of property, facilities and project management, leasing, capital markets, valuation and other services.
To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

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KBS Announces the Sale of Emerald View at Vista Center In West Palm Beach for $40 Million

NEWPORT BEACH, Calif. (May 23, 2019) – KBS, one of the largest owners of commercial real estate, today announced the sale of Emerald View at Vista Center, a two-building Class A office property in West Palm Beach, Florida.

Emerald View at Vista Center was purchased for $40 million by a partnership including Vanderbilt Office Properties, a Chicago- based commercial real estate investment firm. Emerald View at Vista Center had been part of the KBS Real Estate Investment Trust II Portfolio.
This 139,471 square-foot property is located at the northwest quadrant of the Florida Turnpike and Okeechobee Boulevard. It is within a 500-acre master-planned business park known as Vista Center which is adjacent to Emerald Dunes Golf Club. Vista Center is a mixed-use development of mostly office, flex and industrial buildings, and also includes retail space and a hotel.

“We’re pleased with the successful execution of our original investment plan culminating with the sale of this quality asset,” said Allen Aldridge, senior vice president for KBS and asset manager of the property. “West Palm Beach has proven to be a growing market with positive real estate dynamics.”
The property is one of a few buildings in-market that were developed to exceed hurricane requirements and provide 100 percent backup power for 25 days of “business as usual” continuous operations, making it a highly differentiated asset. Additionally, KBS made several key upgrades and improvements to the property, including the construction of move-in ready spec suites and enhancements to the building common areas and lobby. These upgrades and improvements have played a direct role in stabilizing a number of long-term leases with blue chip tenants.
“This is a unique property that is particularly well-situated in West Palm Beach,” added Marc Deluca, regional president, Eastern United States for KBS. “We’re pleased to announce this sale and hope the new owners continue to enjoy the strength within the market that we have experienced.”

Please find photos of Emerald View at Vista Center here.

The CBRE team representing KBS in the sale included: Christian Lee, Jose Lobon, Kevin Probel, Kevin
McCarthy and Tyler Ploshnick.

“We were fortunate to have two highly-experienced and professional groups on both the buy and sell side of this transaction, making for a very swift and efficient deal. It was a pleasure to be involved” said Christian Lee, Vice Chairman of CBRE.

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to KBS Real Estate Investment Trust II’s ability to invest in and manage a diverse portfolio, and the performance of Emerald View at Vista Center and of the West Palm Beach real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS Real Estate Investment Trust II’s and/or Emerald View at Vista Center’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.

Industry Coverage at the Real Deal

About KBS

KBS is a private equity real estate company and an SEC-registered investment adviser. Founded in 1992 by Peter Bren and Chuck Schreiber, it is recognized as one of the largest commercial office owners globally. Since inception, KBS-affiliated companies have completed transactional activity of approximately $40 billion via 16 separate accounts and six commingled funds, for government and corporate pension funds. Additionally, KBS has sponsored five sovereign wealth funds and seven SEC-registered, non-traded REITs. For more information on KBS, its properties and real estate portfolios, please visit KBS.com. For information about KBS’ current offerings, please visit KBSDIRECT.com, an online portal for self-directed accredited investors to participate in institutional-quality real estate without paying up-front fees or commissions. Registration as an investment adviser does not imply any particular level of skill or training.
About Vanderbilt Office Properties

Vanderbilt Office Properties (“VOP”) is a vertically-integrated real estate investor / operator focusing on office investment opportunities throughout the U.S. VOP has invested over $3.0 billion and acquired / developed 80+ buildings over 18 transactions since inception in 2014. VOP offers a full-line of real estate investment and management services, yielding synergies and significant value for investors. VOP currently manages and / or leases 13.0 million square feet and has sold 5.7 million square feet since inception. Casey Wold, VOP’s Managing Partner, has 35 years of real estate experience and has held senior management positions at Tishman Speyer, Trizec and Equity Office Properties.”

Offices at Riverpark Exterior 3

KBS Acquires the Offices at Riverpark for $48.1M in Redmond, Washington

NEWPORT BEACH, Calif. (05-15, 2019) – KBS, one of the largest owners of commercial real estate, announced today the acquisition of the Offices at Riverpark in Redmond, Washington on behalf of a sovereign partner. The Offices at Riverpark is a five-story, Class A office building spanning 106,281 square feet and touting 100 percent occupancy. The property currently leases space to a diverse set of companies in industries such as healthcare, technology, insurance and finance. This acquisition is an example of KBS’ continued commitment to the area in recent years, having added the Westpark Portfolio in 2016.

Built in 2008, the Offices at Riverpark is a modern, LEED Silver office building certified for its sustainable practices. The property features covered parking, an on-site hotel, and mixed-use space for office, residential and retail tenants. The area touts a very walkable score of 86 and tenants can take advantage of the close proximity to the Redmond Town Center, home to over 120 shops, restaurants, and entertainment options.

To add further appeal to the Offices at Riverpark, KBS plans to modernize the property’s lobby and incorporate a wealth of amenities for tenants to enjoy. Additionally, the Redmond area is expected to further adapt to tenant needs with the extension of the East Link light rail which will provide seamless accessibility to Seattle, downtown Bellevue, and the Seattle-Tacoma International Airport.

Situated in the business hub of downtown Redmond, one of the fastest growing submarkets in the nation, the Offices at Riverpark offers proximity to major company campuses including Microsoft, Nintendo, Oculus and AT&T and is close to multiple transportation options, like the King County Metro, Redmond Transit Center, and Interstate 520. The property neighbors several hotels including the Seattle Marriott Redmond and Hyatt House, as well as recreation areas including Luke McRedmond Landing and the Redmond Central Connector Park.

“The Offices at Riverpark is located in a top performing suburban market among several key economic drivers, making the property desirable to both companies and their employees,” said Clint Copulos, senior vice president for KBS and asset manager for the property. “We look forward to offering current and future tenants a balanced live, work and play environment in one of the most attractive properties in Redmond, while adding value to our investor’s portfolio.”

“We are excited about expanding our presence in the Eastside of King County. Our existing Eastside portfolio has seen strong tenant demand and rent growth over the last 12 months. The top technology firms continue to take any large block of space that becomes available, creating a very tight market.” said Rod Richerson, regional president, Western United States for KBS. “This building has all the attributes that we look for in an office building – walkable amenities, nearby multi-family and will be one of the best located multi-tenant office buildings for access to the pending expansion of the East Link light rail.”

NKF Co-Head of U.S. Capital Markets Kevin Shannon, Vice Chairman Nick Kucha, Executive Managing Director Ken White, Senior Managing Director Michael Moll, and Director Bill DeLacy represented the seller, a Boston-based investment firm. NKF Executive Managing Directors Tim O’Keefe and Mike Schreck were the market leasing professionals.

Please find photos of the property here.

Industry Coverage

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to KBS’s ability to invest in and manage a diverse portfolio, and the performance of the Offices at Riverpark Building and of the Redmond real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS’s and/or the Offices at Riverpark Building’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.

About KBS

KBS is a private equity real estate company and an SEC-registered investment adviser. Founded in 1992 by Peter Bren and Chuck Schreiber, it is recognized as one of the largest commercial office owners globally. Since inception, KBS-affiliated companies have completed transactional activity of approximately $40 billion via 16 separate accounts and six commingled funds, for government and corporate pension funds. Additionally, KBS has sponsored five sovereign wealth funds and seven SEC-registered, non-traded REITs. For more information on KBS, its properties and real estate portfolios, please visit KBS.com. For information about KBS’ current offerings, please visit KBSDIRECT.com, an online portal for self-directed accredited investors to participate in institutional-quality real estate without paying up-front fees or commissions. Registration as an investment adviser does not imply any particular level of skill or training.