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KBS Strategic Opportunity REIT closes $73M Tenn. office property buy

KBS Strategic Opportunity REIT Inc. closed on its purchase of the two-building, 311,864-rentable-square-foot Eight & Nine Corporate Centre in Franklin, Tenn., for $73.0 million plus closing expenses.

The 82%-leased office property sits on 27.6 acres of land. The nontraded real estate investment trust used proceeds from a mortgage loan and cash on hand to fund the acquisition, according to a filing.