News RELEASE

KBS Realty Advisors Announces Acquisition of 80 Central in Boxborough, MA

Acquisition part of 1.3 million-square-foot portfolio managed by KBS Realty Advisors in Boston region

Boxborough, MA – December 20, 2006:  KBS Realty Advisors has announced its acquisition of 80 Central Street for $17.75 million. The property is a 149,528-square-foot Class A multi-tenant office building located in Boxborough, MA in the Route 2 corridor. The three-story building is one of the top assets in the 495 North market. 80 Central joins an approximately 1.3 million-square-foot Boston-based portfolio managed by KBS Realty Advisors, which has been active in the region for over 12 years.

Richard Herlihy of Richards Barry Joyce & Partners, LLC represented the seller, which incidentally acquired the asset from a KBS commingled real estate fund in June 2002.

“This is a great asset that is attractive to tenants given its location, access, modern appearance and enhanced infrastructure,” commented KBS Senior Vice President, Shannon W. Hill. “This transaction was very smooth as all parties involved were very reasonable. We wish to thank New York Life, who provided financing on the transaction.”

The Property is one of two buildings that make up Tech Center @ Boxborough located on Route 2, one exit east of the Route 2/Route 495 intersection. The sister building (90 Central Street) is occupied largely by AMD. The Property sits on a 36.9-acre lot that fronts Route 2. Building amenities include a 125-seat cafeteria, on-site fitness room, and full locker and shower facilities.

KBS Realty owns five other assets in the Boston MSA. These include One Research Drive in Westborough, Westboro Executive Park in Westborough, 725 Concord Ave. in Cambridge, the nine building Nagog Office Park in Acton and 825 University in Norwood, and 825 University in Norwood, which closed two weeks ago and is the first asset purchased in the region for KBS REIT.

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 invests in, manages and sells high quality U.S. commercial real estate assets for institutional, corporate and private investors. Since the company was formed, KBS has created 18 separate accounts and six commingled funds. In addition, KBS has formed a publicly offered, non-traded real estate investment trust. For more information, visit www.kbsrealty.com.