KBS Strategic Opportunity REIT, a public non-traded REIT based in Newport Beach, Calif., has purchased the QBE/Corporate Campus, formerly Unigard Park, for $78.7 million.

The seller, QBE North America, is part of QBE Insurance Group Limited, one of the top 20 insurers and reinsurers worldwide.

The nine-building Campus sits on 46 acres and totals 326,384 rentable square feet, 62 percent of which is currently occupied. The seller will remain a tenant in the property, occupying a full building of 67,378 square feet.

“Investor interest in this prime corporate campus was intense, as evidenced by the fact that we brought this property to market just two months ago,” said Ann Chamberlin, a managing director of Jones Lang LaSalle. “KBS will now be able to significantly enhance the value of this property through strategic lease-up of the remaining vacancy in one of the strongest markets in the nation.”