Keppel-KBS US REIT (‘SREIT’) agreed to acquire 11 real estate properties from KBS Strategic Opportunity REIT, Inc. (‘KBS’) for approximately $800 million on October 24, 2017. The portfolio consists of the following properties: 1800 West Loop, Westech 360 (part of the Austin Suburban Portfolio), Great Hills Plaza (part of the Austin Suburban Portfolio), Westmoor Center, Iron Point Business Park, the Plaza Buildings, Bellevue Technology Center, Northridge Center I and II, West Loop I and II, Powers Ferry Landing East, and Maitland Promenade II. As of June 30, 2017, the properties in the portfolio had a cumulative carrying value of $518.7 million, and were subject to cumulative loans in the amount of $379 million. Closing of the transaction is contingent upon, among other things, (i) the SREIT obtaining the equity capital through the issuance of shares listed on the Singapore Stock Exchange necessary to fund the acquisition of the portfolio and (ii) the SREIT obtaining commitments from commercial lenders to help finance the acquisition. The transaction is scheduled to close on November 8, 2017. After repayment of the loans and disposition fees, KBS expects to have approximately $418 million in net proceeds from the sale, including up to 9.5% ownership interest in shares of the SREIT which KBS will retain upon completion of the transaction. KBS intends to utilize a substantial portion of the net proceeds to invest in new investments, current capital projects and to provide additional liquidity to its stockholders who through a share redemption program or one or more self-tender offers. KBS Capital Advisors, LLC acted as the financial advisor to KBS Strategic Opportunity REIT, Inc. on the transaction. Keppel-KBS US REIT (SGX:CMOU) completed the acquisition of 11 real estate properties from KBS Strategic Opportunity REIT, Inc. on November 8, 2017. The purchase price is exclusive of third-party closing costs of approximately $7.7 million and any disposition fees payable to KBS Capital Advisors LLC, external advisor of KBS Strategic Opportunity REIT, Inc. The purchase price was primarily determined based on real estate valuations performed by independent third-party valuation firms.