KBS Capital Markets Group

What KBS Capital Markets Group does

KBS Capital Markets Group, LLC is a Newport Beach, California-based financial services firm founded in 2006 that distributes non-traded real estate investment trusts and alternative investment products exclusively through financial professionals. The firm operates within a broader KBS-affiliated ecosystem that traces back to KBS Realty Advisors (founded 1992 by Peter Bren and Charles J. Schreiber Jr.) and has launched seven non-traded REITs, raising approximately $6.23 billion of cumulative capital as of December 31, 2022. Only KBS Real Estate Investment Trust III (IPO closed May 29, 2015 at $1.7 billion) remains an actively operating vehicle; KBS REIT II completed liquidation in April 2023, KBS Growth & Income REIT completed liquidation in July 2024, and the two Strategic Opportunity REITs had management transferred to Pacific Oak Capital Advisors in 2019.

The firm's revenue mechanics derive from asset management fees on commercial real estate assets under management — approximately $4.8 billion as of June 30, 2025 across KBS-affiliated entities — alongside capital-raising and distribution fees earned through the financial-advisor channel. Cumulative transactional activity across KBS-affiliated buyers exceeds $45.5 billion, supporting an institutional-quality office portfolio with marquee assets such as Accenture Tower (Chicago), Preston Commons (Dallas), 201 Spear Street (San Francisco), and 201 17th Street (Atlanta), many LEED Gold certified. Distribution is supported by FINRA/SIPC membership, dedicated investor-services and advisor-relations phone lines, and online portals via DST Vision and Secure Account View.

The customer base is bifurcated: financial advisors and broker-dealers serve as the distribution channel, while institutional-grade tenants (including JP Morgan Chase, Wells Fargo, Key Bank, Accenture, Fredrikson & Byron, JLL, and Berkeley Research Group) anchor the underlying real estate. The firm is privately held under KBS Holdings LLC (50% Schreiber, 50% Bren estate/family voting control), employs 101–250 people, and maintains FINRA and SIPC regulatory memberships. Operational pressure is visible: KBS REIT III distributions have been suspended since June 2023 due to loan restrictions, and the firm executed an $800M+ refinancing in February 2025 and reset the REIT III NAV to $2.70/share in December 2025.

Name

KBS Capital Markets Group

Legal name

KBS Capital Markets Group, LLC

Website

https://kbs-cmg.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

101–250 employees

Short description

KBS Capital Markets Group is a Newport Beach-based FINRA/SIPC member firm that distributes non-traded commercial real estate REITs exclusively through financial advisors. Founded in 2006, it has raised $6.23B across seven REITs; KBS REIT III is the sole remaining active vehicle with $4.8B AUM.

Ownership category

akta.pro rank

Product category

Non-Traded REIT Distribution & Real Estate Investment Management

NAICS

Other Financial Vehicles (52599), Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Real Estate Investment Trusts (6798), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

REITs & Listed Real Estate Securities (FSAAAKAD)

akta.pro secondary industry

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

Keywords

• Non-traded REIT distribution
• Commercial real estate investment
• Financial advisor distribution
• Real estate investment management
• Institutional-grade real estate

Headquarters

HQ city

Newport Beach

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Capital Raising and Distribution Fees: KBS Capital Markets Group distributes non-traded REIT products through financial professionals, earning fees from capital raised. Historical capital raised totals $6.23 billion across 7 non-traded REITs.
2. Asset Management Fees: KBS affiliated entities manage commercial real estate assets and earn management fees. Assets under management exceed $4.8 billion as of June 30, 2025. Transactional activity of approximately $45.5 billion completed historically.
3. REIT Investment Products: KBS REIT III closed its IPO on May 29, 2015, and raised $1.7 billion. The REIT focuses on income, growth and capital preservation through a value-creating core strategy investing in office properties.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

KBS Capital Markets Group distributes non-traded Real Estate Investment Trusts (REITs) and alternative real estate investment products exclusively through a national network of financial professionals (broker-dealers and investment advisors). The firm has raised approximately $6.23 billion in total capital across seven non-traded REITs since 2006, with KBS Real Estate Investment Trust III as the primary active offering focused on a core office property strategy. KBS-affiliated entities additionally manage institutional commercial real estate assets exceeding $4.8 billion.

Product overview

KBS Capital Markets Group is a premier real estate investment manager that distributes non-traded Real Estate Investment Trusts (REITs) and alternative investment products exclusively through financial professionals. The company has raised capital through seven non-traded REITs: KBS REIT I ($1.7 billion), KBS REIT II ($1.8 billion), KBS Legacy Partners Apartment REIT ($191 million), KBS REIT III ($1.7 billion), KBS Growth & Income REIT ($77 million), KBS Strategic Opportunity REIT ($561 million), and KBS Strategic Opportunity REIT II ($265 million). KBS REIT III remains the primary active offering, while others have been closed or liquidated. The firm enables advisors and their clients to access institutional-grade commercial real estate investment opportunities.

Differentiator

Problem solved

Functional benefit

Products and services

• KBS Real Estate Investment Trust III Non-traded Real Estate Investment Trust (REIT) that invests in a diversified portfolio of core office properties across the United States, distributed exclusively through financial professionals to their individual investor clients; primary active offering of KBS Capital Markets Group.
• KBS Real Estate Investment Trust II Non-traded REIT using a hybrid strategy of owning Class A office and industrial properties while also originating real estate-related loans; distributed through financial professionals and currently in liquidation following its 2023 Plan of Liquidation completion.
• KBS Growth & Income REIT Non-traded REIT with a growth-and-income focus, closed via initial public offering and 506c private placement; currently in liquidation after a final liquidating distribution authorized in 2024.
• KBS Strategic Opportunity REIT Non-traded REIT focused on acquiring an investment portfolio with a total return profile; distributed through financial professionals, with management subsequently transferred to Pacific Oak Capital Advisors.
• KBS Strategic Opportunity REIT II Non-traded REIT with a total-return focus, distributed through financial professionals; management transferred to Pacific Oak Capital Advisors in 2019.
• KBS Real Estate Investment Trust I First non-traded REIT distributed by KBS Capital Markets Group through financial professionals; now closed.
• KBS Legacy Partners Apartment REIT Non-traded apartment-focused REIT distributed by KBS Capital Markets Group through financial professionals; now closed.
• Institutional Commercial Real Estate Investment Management Commercial real estate acquisition, asset management, and disposition services provided by KBS-affiliated entities to institutional clients, including public and private pension plans, endowments, foundations, sovereign wealth funds, and public non-traded REITs.

Quantifiable outcome

• $6.23 billion total capital raised across 7 non-traded REITs
• +3 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Pacific Oak Capital AdvisorsminorStrategic or Co-development Partner · 1 January 2019The management of KBS Strategic Opportunity REIT and KBS Strategic Opportunity REIT II was transferred to Pacific Oak Capital Advisors in 2019. KBS SOR I advisory agreement terminated as of October 31, 2019. KBS SOR II advisory agreement also terminated as of October 31, 2019.

Scale indicators6 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Blackstone Real Estate Income Trust (BREIT): Blackstone's flagship non-traded REIT distributed exclusively through financial advisors to individual investors, offering institutional-quality CRE exposure. Most direct comparable to KBS in product structure, distribution channel, and target customer, with materially larger scale.
• Starwood Real Estate Income Trust (SREIT): Non-traded REIT sponsored by Starwood Property Trust and distributed through financial advisors, offering diversified CRE exposure to individual investors. Directly comparable product/structure to KBS's non-traded REIT offerings.
• Nuveen Real Estate Income Fund: Nuveen-sponsored non-traded CRE fund distributed through advisor channels, providing individual investors with diversified commercial real estate exposure. Closely mirrors KBS's distribution and product model.
• Apollo Real Estate Income Solutions (ARIS): Apollo's non-traded CRE investment vehicle distributed through financial advisors to individual investors. Comparable product structure, distribution approach, and target investor base as KBS's REIT offerings.
• CIM Real Estate Finance Trust: CIM Group's non-traded REIT distributed through financial advisors offering CRE debt and equity exposure. Operates a similar advisor-mediated distribution model targeting individual investors seeking institutional-quality real estate.
• Brookfield Real Estate Income Trust (BREIT/BREP): Brookfield's non-traded CRE vehicle distributed through advisor channels. Comparable distribution architecture and product positioning targeting individual investors seeking institutional-quality real estate exposure.
• KKR Real Estate Finance Trust (KREF): Public mortgage REIT sponsored by KKR investing in CRE debt, with broader KKR non-traded CRE products distributed through advisor channels. Overlaps with KBS on CRE capital-markets distribution and asset-management activity.

Broad incumbents

• Clarion Partners: Established CRE investment manager (now part of Franklin Templeton) managing diversified real estate portfolios for institutional and high-net-worth investors. Broader incumbent offering CRE investment capabilities comparable to KBS Realty Advisors but with deeper institutional scale.
• CBRE Investment Management: Global CRE investment manager with extensive direct real estate and debt strategies for institutional clients. Comparable CRE acquisition, asset management, and disposition capability to KBS-affiliated entities, with much broader product breadth.

Others

• Cohen & Steers: Specialist asset manager focused exclusively on real assets, primarily listed and private REITs. Adjacent to KBS's REIT distribution franchise with overlapping institutional and advisor relationships, but manages listed-REIT strategies rather than direct property vehicles.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/kbs-capital-markets-group

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about KBS Capital Markets Group