News RELEASE

KBS Closes on Prime Office Complex in Seattle Suburb of Bellevue

Acquisition of Ridgewood Corporate Square Brings KBS Northwest Portfolio to More Than 592,000 Sq. Ft.

Bellevue, WA - Dec. 14, 2009: KBS Realty Advisors of Newport Beach, Calif., one of the nation’s leading commercial real estate investment advisors, has significantly expanded its portfolio of Class-A office properties in the Seattle-Tacoma area with the purchase of Ridgewood Corporate Square, a high-profile, seven-building suburban office complex offering 240,518 square feet of space in the eastern Seattle suburb of Bellevue, Wash.

KBS represented itself in the purchase, which constitutes one of the largest acquisitions in Seattle’s eastside neighborhood so far this year. Grant Lammersen of Cushman & Wakefield, San Francisco, represented the seller in the transaction. Considered one of the area’s most prestigious suburban office properties, Ridgewood Corporate Square is situated near the intersection of I-405 and I-90, in the eastern foothills overlooking Lake Washington and the Bellevue and Seattle skylines. The property consists of seven multi-level red brick buildings accented with black tinted solar glass windows, and boasts an onsite fitness center, conference center and parking ratio of three spaces per 1,000 square feet of space.

The area immediately surrounding the property, located at 120th Avenue N.E. in Bellevue, includes a Home Depot, Best Buy, Larry's Market and other conveniences, as well as the manicured parks, shops and restaurants of Bellevue Square.

The property is currently 85 percent occupied by such tenants as City University and Healthcare Management Administrators.

Ridgewood Corporate Square is the fourth Washington state property in the KBS-affiliated company portfolio. The company also owns North Creek Parkway Center in Bothell, Olympic Block in Seattle and Continental Plaza in Kirkland, for a total of more than 592,000 square feet.

“The addition of Ridgewood Corporate Square to our Pacific Northwest portfolio further enhances KBS’ long term commitment to the Puget Sound market,” explained Peter Mette, KBS senior vice president. “Ridgewood offers a superior location, and is functional, flexible and positioned well to perform as the local 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.