Southern California Office Portfolio

19191 South Vermont Avenue, Torrance, CA 90502

Property Overview

KBS REIT has purchased two mezzanine loans totaling $175 million for the Southern California Office Portfolio. These loans were purchased at a discount to the $175 million par value.

The Southern California Office Portfolio includes 4.55 million square feet within 60 buildings distributed throughout Los Angeles, Ventura, Orange and San Diego counties. The properties were acquired by the borrower in July 2007 for $1.51 billion including financing of $1.35 billion. An additional financing commitment of $160 million was pledged to fund future capital expendi- tures, tenant improvements and debt service shortfall.

Investment at a Glance

Location: LA/Ventura/Orange/San Diego

Property Type: Office

Investment Type: 2 Mezzanine Loans

Acquisition Date: January 30, 2008

Loan Par Value: $175,000,000

Loan Term: 19 months

No. of Properties: 33 properties, 60 buildings

Leased Percentage (at the time of Acquisition): 89.1%

$175,000,000 Total Purchase Price
33 square feet Total Rentable Area