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KBS Growth & Income REIT buys Houston office for $47M

on Sept. 21 agreed to acquire The Offices at Greenhouse inHouston from Greenhouse Office Investors I LLC for about $47.0 million.

Built in2014, the five-story class A office building comprises 203,221 rentable squarefeet on an approximately 4.6-acre land parcel. The building is 94%leased to six tenants as of Sept. 1.

KBS Growthwill acquire the property through a wholly owned subsidiary and plans to fundthe purchase with proceeds from the primary portion of its now-terminatedprivate offering, its ongoing initial public offering and proceeds from amortgage loan from an unaffiliated lender.