Keppel unit and KBS Realty in talks to list REIT of US office assets: sources

SINGAPORE (Sept 7): KBS Realty Advisors, the US real-estate investment firm, is planning to raise about US$500 million ($673 million) via a Singapore initial public offering of some of its US office assets.

According to a Dow Jones report, the Newport Beach, California-based company is in talks with the asset-management arm of Keppel Corp. to form a joint venture that they plan to list as a real-estate investment trust later this year.

The REIT would have an initial portfolio of close to a dozen properties, including office buildings in Seattle, Houston, Denver and other US cities, according to the report.

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