CHICAGO, IL -- (Marketwire) -- 07/29/10 -- Adding to its recent acquisition activity, KBS Real Estate Investment Trust II (KBS REIT II) has closed on the purchase of the 300 North LaSalle office building in Chicago. The purchase of the 1.3 million-square-foot, 60-story central business district tower ranks as one of the country's largest commercial real estate transactions in 2010.

The transaction increases the commercial real estate acquired by KBS-affiliated companies so far this year to more than 3.5 million square feet, including signature properties in Dallas, St. Louis, San Diego, Portland, Ore., and Herndon, Va., near Washington, D.C.

Considered one of Chicago's preeminent office towers, 300 North LaSalle Street is located on the north bank of the Chicago River in the River North submarket. The riverfront location, coupled with registered landmark-status buildings situated directly to the east and west, provides tenants with unparalled Chicago River, Lake Michigan and city skyline views. The 93-percent leased Class AAA tower was completed in March 2009 by the Hines organization, one of the largest and most respected real estate developers in the world. Tenants include Kirkland & Ellis, LLP, Chicago's largest law firm with approximately 1,500 lawyers practicing worldwide, which occupies 687,857 square feet; the management consulting firm Boston Consulting Group, which leases 124,253 square feet; the local private-equity firm GTCR Golder Rauner, LLC; international insurance group Aviva; and law firm Quarles & Brady, LLP.

"This high-quality property, with its strong tenant credit and long-term leases, fits perfectly within our investment parameters to provide long-term cash-flow stability," explained Rodney Richerson, president of KBS Realty Advisors' Central Region. "It qualifies as one of the newest and highest-quality properties built in the U.S. in recent years."

"The building's features, unmatched view corridors and LaSalle Street address resulted in a rapid lease-up even during the economic downturn," added Bill Rogalla, KBS Realty Advisors senior vice president and director of acquisitions for the Central Region. "We expect the building's Class AAA-quality and environmental attributes to contribute to significant tenant retention over the long term."

Designed by Pickard Chilton, the Gold LEED-certified building features a richly articulated glass and stainless steel facade that maximizes daylight and minimizes solar heat gain, and a half-acre sunlit waterfront public garden with direct access to the river's edge. Other green technologies incorporated into the property include a river water cooling system, superior indoor air quality via UV emitters and HEPA filtration, and a 50-percent green roof. Onsite amenities include a conference center overlooking the Chicago River, fitness center, premium steakhouse, riverfront café and underground parking.

300 North LaSalle Street is close to the major commuter options serving metropolitan Chicago, including the Chicago Transit Authority (CTA) station at the neighboring Merchandise Mart. Also within walking distance are new residential and hotel developments, prominent central Chicago office properties and numerous restaurant, retail and entertainment venues.

Glenn Whitmore, Jamie Fink and Jeff Bramson of the New York and Chicago offices of Holiday Fenoglio Fowler represented the seller in the acquisition, which closed July 29, 2010. Mike Kavanau, also with the Chicago office of Holiday Fenoglio Fowler, assisted with the placement of financing for the acquisition.

About KBS
KBS is a private equity real estate company and SEC-registered investment advisor founded in 1992 by Peter Bren and Charles J. Schreiber, Jr. Since 1992, KBS has completed transactional activity exceeding $17.6 billion via 19 separate accounts, six commingled funds and four non-traded REITs. KBS has offices in Newport Beach, Calif.; San Francisco, Chicago, Boston, Dallas, New York, Washington, D.C., Atlanta, and Los Angeles. For information, visit www.kbsrealty.com.

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS REIT II's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These include statements regarding the intent, belief or current expectations of KBS REIT II as well as the assumptions on which such statements are based, and generally are identified by the use of words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should" or similar expressions. Actual results may differ materially from those contemplated by such forward-looking statements. Further, forward-looking statements speak only as of the date they are made, and KBS REIT II undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

The following are some of the risks and uncertainties, although not all risks and uncertainties, that could cause KBS REIT II's actual results to differ materially from those presented in KBS REIT II' s forward-looking statements: KBS REIT II can provide no guarantees regarding (i) its future performance or the performance of the 300 N. LaSalle Building, (ii) the financial stability of the tenants leasing the 300 N. LaSalle Building; or (iii) whether current or future disruptions in the national or local economy will materially adversely affect the operations of the 300 N. LaSalle Building.

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