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Archived News

Lucescu Realty Selects a Buyer for Office Building Portfolio, located in Houston, Texas, on behalf of KBS Realty Advisors

Tuesday, April 21, 2009. Newport Beach, CA

Lucescu Realty, a market leading investment real estate brokerage firm, announced today the selection of a Buyer for an Office Building Portfolio, located in Houston, Texas. The Portfolio consists of three Office Buildings, totaling 342,183 square feet of Net Rentable Area. Located in the FM 1960/I-45 North submarket, approximately 20 miles from Downtown Houston, the Buildings include the highest quality Class B buildings within the market. The Portfolio was marketed for sale for 45 days and received 12 offers from the full spectrum of qualified Buyers.

The Seller of the Property is KBS Realty Advisors. KBS Realty Advisors is one of the leading real estate investment advisors in the nation. The Company has created 19 separate accounts and six commingled funds with the nation's largest pension funds and institutional investors totaling over $16 billion in transactions. The Buyer of the Property is an institutional investor based in Texas.