DALLAS-KBS Real Estate Investment Trust III Inc. plans to buy a three-building office portfolio for about $268.8 million, including two Preston Center office properties, according to a report in the Dallas Business Journal.
Through wholly-owned subsidiaries, KBS plans to purchase Preston Commons, a three-building office property in the Preston Center district.
Along with the two Dallas properties, a Gaithersburg, MD, office property, One Washingtonian Center was part of the transaction. The entire office portfolio is 86% leased with 120 tenants.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
