NEWPORT BEACH, Calif.--(BUSINESS WIRE)--KBS Realty Advisors and KBS Capital Advisors announce the promotion of Stephen Close as KBS Senior VP/market leader for the Mid-Atlantic region. As a market leader, Close’s duties will include managing a portfolio totaling more than 2.3 million square-feet as well as helping to identify new acquisition opportunities in the Mid-Atlantic.
Close has been with KBS Realty Advisors since 2005. He moves to his new role having previously served as a senior investment analyst where he helped maximize the value of KBS-owned Northeastern U.S. assets totaling more than 4.5 million square feet.
“We are pleased to put Stephen Close in a position to oversee an important and growing Mid-Atlantic region for KBS, which reflects our company’s spirit of organic growth and promotion from within,” said KBS CEO Charles J. Schreiber. “The KBS team of market leaders have evolved in scope beyond just the traditional duties of asset managers, making Stephen a great fit for that role.”
“Senior VPs and market leaders with investment analyst backgrounds such as Stephen’s can bring a great deal of knowledge and experience to the KBS team,” said KBS Eastern Region President Marc DeLuca. “With a hands-on approach, Stephen will help us manage and seek out potential acquisitions in the Mid-Atlantic.”
Office assets owned by KBS-affiliated companies that will now be overseen by Close include Dulles Station East, Tysons Dulles Plaza I, II & III, Willow Oaks Corporate Center, and Redwood Plaza I, II & III in Virginia; and One Washingtonian Center in Maryland. Close also will continue as the asset manager for Woodbridge Corporate Plaza in Iselin, N.J.
KBS Realty Advisors is a private equity real estate company and SEC-registered investment advisor founded in 1992. KBS Realty Advisors and its affiliated companies have completed transactional activity of approximately $30 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and five non-traded REITs. For information, visit www.kbsrealty.com.