A property in Westpark Portfolio. (Photo: KBS)

Keppel-KBS US REIT has entered into an agreement to acquire a business campus comprising of 21 freehold buildings in the Seattle-Tacoma-Bellevue Metropolitan Statistical Area (Seattle MSA).

The properties will be acquired from KBS SOR Westpark Portfolio LLC, an entity related to the REIT’s sponsor, for a purchase consideration of USD169.4 million.

The REIT has indicated that it may finance the acquisition with proceeds from an equity fundraising exercise.

Keppel-KBS US REIT has two other properties, namely the Plaza Buildings and Bellevue Technology Center, in the Seattle MSA.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.