Waterbridge Capital Ltd agreed to acquire Union Bank Plaza in Los Angeles from KBS Real Estate Investment Trust II, Inc. (OTCPK : KBRS) for $110 million on July 20, 2022. In consideration, Waterbridge paid $104 million. In addition the Waterbridge assumed approximately $6 million in committed capital obligations to existing tenants. Kevin Shannon, Laura Stumm, Ken White and Rob Hannan of Newmark represented KBS in the sales transaction. Mike Condon of Cushman & Wakefield represented the Waterbridge. On July 20, 2022, KBS Real Estate Investment Trust II, Inc., entered into a purchase and sale agreement and escrow instructions (the “Agreement”) for the sale of Union Bank Plaza to WB Union Plaza Holdings LLC (the “Purchaser”), an affiliate of Waterbridge Capital. The KBS Real Estate Investment Trust II completed the sale of Union Bank Plaza to the Purchaser for $104.0 million, before third-party closing costs of approximately $1.1 million and excluding disposition fees payable to the Advisor.

Waterbridge Capital Ltd completed the acquisition of Union Bank Plaza in Los Angeles from KBS Real Estate Investment Trust II, Inc. (OTCPK : KBRS) on March 30, 2023. Greenberg Traurig acted as legal counsel for KBS. Newmark brokered the transaction on behalf of the seller, while Cushman & Wakefield represented the buyer.