News RELEASE

KBS Realty Advisors Acquires Overlook I in Northwest Atlanta

Atlanta, GA -- July 28, 2005: KBS Realty Advisors (www.kbsrealty.com), one of the nation's leading buyers of commercial real estate announced recently it had acquired Overlook I, a 138,068 sq. ft. Class A office property at the peak of Mount Wilkinson in Northwest Atlanta. The property was purchased on July 6, for $21,250,000. The seller of the property was The Realty Associates Fund IV, LP.

Built in 1982 and situated on Paces Ferry Road, Overlook I is one of four office properties that sit at the peak of Mount Wilkinson offering spectacular views of the Atlanta skyline. The property is well leased (89%) to 27 tenants, the largest of which is Arcadis, the ninth largest engineering firm in the world. Arcadis occupies 41,645 sq. ft., or 30.2% of the property. Other large tenants at the property include Wilson, Brock & Irby; DirecTV and AIM Consulting.

Overlook I is the second office property KBS has acquired in the last seven months in the suburban Atlanta office market. On December 28, 2004, the firm also acquired Piedmont Center V - VIII, a 503,725 sq. ft. office property located in the Buckhead submarket. The firm also owns Northridge Pavilion III & IV a 91,940 sq. ft. office property in the Central Perimeter office submarket of North Atlanta. KBS Acquired Northridge in December 1999.

According to KBS Senior Vice President, Peter Doherty, the Overlook I transaction was closed in less than 30 days. "We are pleased to have the opportunity to acquire a property that has been well leased and very well maintained by The Realty Associates," commented Doherty. "They also did a fine job in helping to make this transaction come together on an accelerated time table."

Doherty added that KBS is excited to again be doing business in Atlanta and that the firm sees continued economic growth for the Atlanta real estate market. "With vacancy rates at their lowest level in the last three years and rapidly improving absorption levels, we believe that Atlanta will be one of the strongest office markets in the nation and we will continue to seek out quality real estate opportunities as this market continues to strengthen.

Headquartered in Newport Beach, CA, KBS Realty Advisors (www.kbsrealty.com) 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.