{"id":1004077499,"date":"2013-06-19T06:20:45","date_gmt":"2013-06-19T14:20:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004077499"},"modified":"2022-12-08T04:51:02","modified_gmt":"2022-12-08T12:51:02","slug":"kbs-buys-86m-denver-office-complex","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kbs-buys-86m-denver-office-complex\/","title":{"rendered":"KBS Buys $86M Denver Office Complex"},"content":{"rendered":"

By Keith Loria, Contributing Editor\u00a0<\/span><\/em><\/p>\n

\"\"<\/a><\/p>\n

KBS Strategic Opportunity REIT has purchased the Westmoor Center office complex in the Westminster, Colo. submarket for $86 million.<\/p>\n

Located at 10055-10385 Westmoor Dr., the six-building Class A Westmoor Center office portfolio totals 612,890 square feet\u00a0and is situated between Denver and Boulder, close to the expanding city of Broomfield, with views of the Heritage Golf Course at Westmoor and the Rocky Mountains.<\/p>\n

The area is the hub of hi-tech employment, which can be attributed in part to the University of Colorado’s Boulder campus, with thousands of graduates trained for hi-tech research, manufacturing and information technology services.<\/p>\n

Constructed in 1998-99, Westmoor Center offers gazebos wired with Internet access for working outside, Broomfield park-n-ride is nearby and there is a free shuttle service to and from the FlatIron Crossing shopping mall.<\/p>\n

The six buildings that encompass Westmoor Center are part of the larger, 10-builidng, Ten West at Westmoor Business Park.<\/p>\n

At the time of the sale, the center was 81-percent occupied by such tenants as Ball Corporation, Lender Processing Services and Datalogix.<\/p>\n

According to a company release, KBS Strategic Opportunity REIT plans to invest in and manage a diverse portfolio of real estate-related loans, opportunistic real estate, real estate-related debt securities and other real estate-related investments.<\/p>\n

The public non-traded real estate investment trust based in Newport Beach, Calif., and its affiliated companies\u00a0now owns six office properties in the area, totaling more than 1.7 million rentable square feet. This includes the 561,691-square-foot Granite Tower in Denver, the 264,194-square-foot Peakview Tower in Centennial, Colo., Denver\u2019s 128,845-square-foot 210 University, the 92,099-square-foot Academy Point Atrium I in Colorado Springs, Colo., and the 82,320-square-foot Crescent VIII in Greenwood Village, Colo.<\/p>\n

KBS Strategic Opportunity REIT was sponsored indirectly by Charles Schreiber,\u00a0Jr., Peter Bren, Keith Hall and Peter McMillan III\u00a0and is advised by KBS Capital Advisors L.L.C., an affiliated entity, which is indirectly owned and controlled by KBS Strategic Opportunity REIT\u2019s sponsors, said or implied by such forward-looking statements.<\/p>\n","protected":false},"excerpt":{"rendered":"

KBS Strategic Opportunity REIT has purchased the Westmoor Center office complex in the Westminster submarket for $86 million. <\/p>\n","protected":false},"author":451,"featured_media":1004077506,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1587,37774,37775,21783,21742,21747,37776,37777,37778,15],"tags":[],"class_list":["post-1004077499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-denver","category-rc-dividend-yield","category-rc-forward-affo-payout-ratios","category-investment","category-latest","category-office","category-rc-premium-discount-to-nav","category-rc-price-ltm-ffo","category-rc-total-return","category-west"],"acf":[],"yoast_head":"\nKBS Buys $86M Denver Office Complex - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/kbs-buys-86m-denver-office-complex\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KBS Buys $86M Denver Office Complex\" \/>\n<meta property=\"og:description\" content=\"KBS Strategic Opportunity REIT has purchased the Westmoor Center office complex in the Westminster submarket for $86 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/kbs-buys-86m-denver-office-complex\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-06-19T14:20:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T12:51:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/06\/DENVER.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1479\" \/>\n\t<meta property=\"og:image:height\" content=\"2550\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kbs-buys-86m-denver-office-complex\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kbs-buys-86m-denver-office-complex\\\/\"},\"author\":{\"name\":\"Keith Loria\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"headline\":\"KBS Buys $86M Denver Office Complex\",\"datePublished\":\"2013-06-19T14:20:45+00:00\",\"dateModified\":\"2022-12-08T12:51:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kbs-buys-86m-denver-office-complex\\\/\"},\"wordCount\":336,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kbs-buys-86m-denver-office-complex\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/06\\\/DENVER.jpg\",\"articleSection\":[\"Denver\",\"Dividend Yield\",\"Forward AFFO Payout Ratios\",\"Investment\",\"News\",\"Office\",\"Premium\\\/Discount to NAV\",\"Price\\\/LTM FFO\",\"Total Return\",\"West\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kbs-buys-86m-denver-office-complex\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kbs-buys-86m-denver-office-complex\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kbs-buys-86m-denver-office-complex\\\/\",\"name\":\"KBS Buys $86M Denver Office Complex - 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