KBS announced the sale of The Almaden, a three-building, 416,126-square-foot class A office campus in downtown San Jose, to SFF Realty Partners. KBS Real Estate Investment Trust III owned the campus, which includes a 1,264-space parking structure. The announcement did not disclose a sale price or whether the transaction has closed.
KBS senior vice president Tim Helgeson, investment manager for The Almaden, said the campus received more than $49 million in capital improvements during KBS's ownership. That spending, he said, helped keep the property competitive and ready for the transition to new ownership.
| Parties | Asset | Terms |
|---|---|---|
| KBS REIT III (seller) / SFF Realty Partners (buyer) | The Almaden, three class A office buildings, 416,126 sq ft, 1,264 parking spaces, downtown San Jose | Price not disclosed; sale announced, closing status not stated |
Reported by the Deals desk from IREI. Published . Corrections