News RELEASE

KBS Realty Advisors Secures Lease Totaling 31,811 Square Feet at 619 West 54th Street in New York City

New York City – January 10, 2008: KBS Realty Advisors has secured a 10-year lease totaling 31,811 square feet of space at 619 West 54th Street, a 10-story, 301,000-square-foot office building in New York City. KBS has leased the space to City University of New York (CUNY). The new tenant will relocate certain administrative functions of John Jay College from its headquarters just two blocks away and the move-in of approximately 115 people is anticipated for March 2008.

Matthew Astrachan, Mitchell Konsker and Robert Gallucci of Cushman & Wakefield represented KBS in the transaction. David Schneck of Grubb & Ellis represented CUNY.

With this newest lease, the property is now 100 percent occupied. Additional tenants in the building include Advent Software, Warner Music Group and Chadbourne & Parke.

Built in 1930 for Warner Brothers Pictures, the property is located between 11th and 12th Avenues, one block from the Westside Highway and the Hudson River. The immediate neighborhood is part of the Time Square/Westside submarket.

“With the addition of CUNY to the building, this property is now 100 percent leased,” said Charlie Valentino, senior vice president for KBS Realty Advisors. “This is a testament to the growth of the Westside submarket and the marketability of the property itself.”

The building has frontage on both 54th Street and 55th Street and abuts a low-rise building to the west. As such, the building benefits from excellent light on three sides and the upper floors provide water views as well as views of midtown Manhattan.

About KBS Realty Advisors
Founded by Peter Bren and Chuck Schreiber in 1992 as a private equity real estate company, KBS Realty Advisors is a SEC registered real estate investment advisor. KBS Realty Advisors and its affiliate, KBS Capital Advisors, invests in, manages and sells high quality U.S. commercial real estate assets for institutional, corporate and private investors. Since 1992 KBS has completed transactional activity of approximately $13 billion via 18 separate accounts, six commingled funds and a private equity REIT. For more information, visit www.kbsrealty.com.