Home Diversified KBS Strategic Opportunity REITs Expand Board and Appoint New Member

KBS Strategic Opportunity REITs Expand Board and Appoint New Member

769
SHARE

KBS Strategic Opportunity REIT I and II, two publicly registered non-traded real estate investment trusts, appointed Kenneth Yee to serve on each company’s board of directors, audit committees, and conflicts committees. With his appointment, the boards increased in size from five to six members.

Yee is the president and chief executive officer of Ridgecrest Capital, a real estate financial advisory services and structured finance firm. He previously served the managing director of Cappello Capital Corp, and has held positions at Imperial Credit Commercial Mortgage Investment Corp and Secured Capital Corp., now known as Eastdil Secured LLC, a division of Wells Fargo.

Yee holds a master’s degree in business administration from the University of Southern California, a master’s degree in real estate development from the Massachusetts Institute of Technology, and a juris doctor degree from the University of California, Los Angeles. Yee is a chartered financial analyst, a certified public accountant, a licensed attorney and a licensed real estate broker.

KBS’ Strategic Opportunity REITs focus on investing in real estate-related loans, opportunistic real estate, real estate-related debt securities, and other related investments located in the United States and Europe.

KBS Strategic Opportunity REIT went effective in November 2009 and closed its primary offering three years later after raising $561.7 million in investor equity. As of September 30, 2016, the company owned 25 properties with an investment cost of $1.3 billion, according to Summit Investment Research.

KBS Strategic Opportunity REIT II went effective in August 2014, and through a private placement offering and subsequent initial public offering, the REIT has raised a total of $180 million in investor equity. The company’s portfolio is comprised of six properties with an investment cost of $330 million, according to Summit Investment Research.