News RELEASE

KBS Sells Paseo Del Mar in the Prime San Diego Submarket of Del Mar Heights

San Diego, CA - July 24, 2008: KBS Realty Advisors, one of the nation’s leading commercial real estate investment advisors, announced today the sale of Paseo Del Mar, a suburban office complex in the desirable San Diego submarket of Del Mar Heights. The property is being acquired by a fund advised by Metzler North America. The 232-307-square-foot property consists of three, three-story office buildings, each with one level of subterranean executive parking.

Lynne LaChappelle and Robert Prendergrast of Jones Lang LaSalle represented KBS in the transaction which closed today for $147,900,000, or $636.45 per square foot.

“With respect to location, design and demographics, Paseo Del Mar is one of the finest trophy suburban office properties in the western United States,” commented KBS Senior Vice President Steve Jarecki, who oversees acquisitions and dispositions for the southwest United States.

KBS Realty Advisors acquired Paseo Del Mar in January 2007 at a price of $120,000,000, or $516.00 per square foot. The Class-A buildings are located at 12255, 12265 and 12275 El Camino Real in Del Mar Heights.

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 $15 billion via 19 separate accounts, six commingled funds and two private equity REIT's. For more information, visit www.kbsrealty.com.