On June 28, 2016, KBS Strategic Opportunity REIT II made its first European investment, originating a participating loan facility of up to $2.9 million. KBS Strategic Opportunity REIT II funded approximately $2.3 million at closing, which proceeds were used by the borrower to fund an interest in a joint venture acquiring a portfolio of light industrial properties located throughout France. The total acquisition cost of the portfolio was approximately $106 million.
With 85% of the assets positioned within what’s referred to as the French Logistics Corridor, the portfolio demonstrates high ease of distribution, a feature that has attracted major global tenants.
