News RELEASE

KBS Realty Advisors Opens Washington, DC Office

Peter Doherty Joins Team as Senior Vice President

Washington, DC -- April 6, 2005: KBS Realty Advisors, a national real estate investment advisor (www.kbsrealty.com), has announced the opening of an office in Washington, DC, to concentrate on increasing investment volume in the Mid-Atlantic region.  The new office opened on April 5. KBS Realty Advisors, based in Newport Beach, California, currently has offices in Boston, Chicago, New York, San Francisco and Newport Beach.  The Chicago, New York and San Francisco offices have all been opened within the past year in response to a dramatic increase in the funds available for investment.

Peter Doherty, who has been active in the Washington, DC real estate community for many years, will head the new office as Senior Vice President, Mid-Atlantic.  Mr. Doherty will be responsible for investments from Maryland through the Carolinas.   Prior to joining KBS, Mr. Doherty served with Advantis/GVA as Managing Director in charge of the Washington DC region, and with Lend Lease, as principal and manager of the Washington, DC region, overseeing asset management, acquisitions and debt and equity dispositions.

"The new Washington, DC office is not only in response to the increase in funds available for investment, but also reflects our strategy of focusing on a limited number of major markets and placing resources within those markets to take maximum advantage of the opportunities," stated Chuck Lindwall, President of the KBS Eastern Region. "We have been looking for the right person for quite some time and are very excited about Peter's decision to join us.  He has a wealth of experience and deep roots within the markets that we intend to cultivate.”

Headquartered in Newport Beach, CA, KBS Realty Advisors is a premier real estate investment firm that has invested over $5 billion since the company’s inception in 1992. KBS was founded and is operated by Peter Bren, President and Chairman and Charles J. Schreiber, Jr., CEO. KBS has offices in Newport Beach, San Francisco, Chicago, Boston, New York and Washington, DC.