KBS BUYS LOFTS AT HIGHLANDS IN ST. LOUIS FOR $41.8M

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ST. LOUIS — KBS Legacy Partners Apartment REIT, a Newport Beach, Calif.-based public non-traded REIT, has purchased the 200-unit Lofts at the Highlands apartment community in St. Louis for $41.8 million. The Class A property, which totals 246,612 square feet, was 80 percent occupied at the time of sale. Built in 2006, the complex consists of two five-story buildings and is located between downtown St. Louis and the Clayton business district. Mills Properties Inc. will manage the property.

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