PORTLAND, Ore. (March 15, 2018) – KBS Growth & Income REIT, a non-traded real estate investment trust based in Newport Beach, California and offered online at KBSDirect.com, announced today the signing of a new 19,948-square-foot lease with Otoharmonics Corporation at Commonwealth Building in Portland. Otoharmonics Corporation is a privately held company with headquarters in Portland, Oregon USA. The company has an international team of world–class neuroscientists, clinicians, business professionals and patients and has developed the patented Levo System for the management of tinnitus symptoms.
Situated in the heart of downtown Portland on 421 SW 6th Avenue, this 14-story, Class A office tower is comprised of 224,122 square feet of rentable space. The building has been recognized as one of Portland’s first midcentury design towers. After its creative repositioning in 2008, it is now considered a higher-purpose building, with onsite amenities that include a rooftop deck, tenant lounge, conference room, fitness center and locker rooms. Additionally, the office tower is easily accessible to mass transit and the Portland International Airport.
“The Commonwealth building offers tenants an exceptional community experience,” said Clint Copulos, KBS senior vice president and asset manager for the property. “We are excited to welcome Otoharmonics Corporation – www.otoharmonics.com – as a tenant and know that they will have a favorable experience and will be fully-supported at our property.”
Commonwealth also holds the distinction of being one of the initial properties included in KBS’s first online direct-investment fund available on KBSDirect.com. The Fund (KBS Growth & Income REIT), allows accredited investors to invest directly in high-quality, well-located properties like Commonwealth without paying up-front fees or commissions.
Michael Baker, Presodent/CEO represented Otoharmonics Corporation.
KBS Capital Advisors is the external advisor to KBS Real Estate Investment Trusts (REITs), and is an affiliate of KBS Realty Advisors, a private equity real estate company and SEC-registered investment adviser founded in 1992. Since its inception, KBS affiliated companies have completed transactional activity in excess of $37 billion via 16 separate accounts, six commingled funds, five sovereign wealth funds and seven nontraded REITs. For information, visit www.kbs.com.