News RELEASE

KBS Adds to its Texas Portfolio with Purchase of Dallas Office Tower

Dallas, TX - April 1, 2009: KBS Realty Advisors, one of the nation’s leading commercial real estate investment advisors, continues to strengthen its portfolio of Class-A office properties in Texas with the purchase of Providence Towers, a high-profile, 12-story office tower offering 504,732 square feet of space in the Far North Dallas Tollway submarket of Dallas.

Considered one of the most prestigious trophy-caliber properties along the Dallas North Tollway, Providence Towers features polished red granite exteriors and a distinctive nine-story entrance arch that splits the building into identical east and west towers. Onsite amenities include a five-story underground garage, full-service deli, conference facilities and executive fitness center with men’s and women’s locker rooms.

KBS represented itself in the purchase, which represents one of the largest acquisitions in Texas so far this year. Gary Carr and Russell Ingrum of CB Richard Ellis represented the seller in the transaction which closed on March 31, 2009.

A major Texas property owner, KBS-affiliated companies own 43 properties throughout the state containing more than 9.5 million square feet of office, industrial and flex space.

Providence Towers is currently 87 percent leased to 47 tenants, among them Hilton Hotels; Degolyer & MacNaughton, a global petroleum consulting firm; Henry S. Miller, the state’s largest independent commercial brokerage firm; Time Warner Cable; Transwestern Property, Co.; and Morgan Stanley. A prime location on North Dallas Tollway at Spring Valley Road provides easy access to the entire North Dallas suburban office market as well as the Dallas Galleria and the prestigious residential neighborhoods of Highland Park, Preston Hollow, Plano and Frisco.

Since its completion in 1986, Providence Towers has received several renovations, including more than $3 million in capital improvements since 2006.

“The addition of Providence Towers to our portfolio further enhances our long term commitment to the Tollway submarket,” explained Bill Rogalla, KBS senior vice president. “Providence is a landmark quality asset which will perform well as the economy recovers in the coming years.”

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 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 $16.5 billion via 19 separate accounts, six commingled funds and two private equity REITs. For more information, visit www.kbsrealty.com.