Commercial Real Estate Direct Staff Report Keppel Pacific Oak US REIT has paid $105.1 million for two fully leased office properties with a combined 385,425 square feet in Colorado and Tennessee. The Singapore company acquired 105 Edgeview Drive, with 186,231 ...
96 percent occupied. The Irvine, Calif., REIT funded its purchase with a $65 million line of credit from PNC Bank.
98 percent occupied.
The telecommunications company is leasing back the property as part of a 10-year lease that could be extended for up to another 20 years.
97 percent leased.
It includes land for another 110,000 sf of retail space that would comprise the property's second phase.