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BOA backs KBS REIT’s San Jose trophy buy
Bank of America provided a $76.6m loan backing KBS REIT III’s acquisition of the Ten Almaden office building in downtown San Jose, California. The three-year, floating-rate loan represents a 66% loan-to-value ratio on the reported $116.7m December purchase of the 309,255 sq ft, Class A building from seller Equity Office.
