Kbs Real Estate Invt (KBRS) 4.6600 $KBRS
KBS Real Estate Investment Trust II Announces Intent to Market Its Assets for Sale
Marketwire Canada - Tue May 31, 8:01AM CDT
NEWPORT BEACH, CA--(Marketwired - May 31, 2016) - As previously announced, on January 27, 2016, the board of directors of KBS Real Estate Investment Trust II, Inc. (the "Company"
formed a special committee (the "Special Committee" composed of all of the Company's independent directors to explore the availability of strategic alternatives involving the Company. As part of the process of exploring strategic alternatives, on February 23, 2016, the Special Committee engaged Evercore Group L.L.C. ("Evercore" to act as financial advisor to the Company to assist the Company and the Special Committee with this process. While the Special Committee continues to explore strategic alternatives for the Company, it has determined that it would be in the best interests of the Company and its stockholders to market for sale the Company's assets. Based on the results of this sales effort, the board of directors may conclude that it would be in the best interests of the Company and its stockholders to sell one or more of the Company's assets, and, depending on the scope of the proposed asset sales, thereafter to adopt a plan of liquidation that would involve the sale of the Company's remaining assets. In the event of such a determination, the proposed plan of liquidation would be presented to the Company's stockholders for approval. Alternatively, based on the results of the initial sales effort, the board of directors may conclude that it would be in the best interests of the Company and its stockholders for the Company to engage in a limited number of asset sales and continue to operate as a going concern, but with a portfolio that is smaller than the present portfolio.
Griffin Capital Essential Asset REIT II Acquires NETGEAR Headquarters in San Jose, California
GlobeNewswire - Thu May 19, 3:29PM CDT
Griffin Capital Corporation ("Griffin Capital" announced today, on behalf of Griffin Capital Essential Asset REIT II, Inc. (the "REIT", the acquisition of a 142,700 square-foot office and R&D facility fully leased to NETGEAR, Inc. ("NETGEAR" (NASDAQ:NTGR) which has occupied the facility as its corporate headquarters since 2008 ("Property". Originally constructed in 1984, the Property was renovated in 2015 coincident with a lease extension that extended the remaining term approximately 9.5 years through September 2025. The REIT purchased the Property for $44 million from KBS Real Estate Investment Trust II, Inc. ("Seller".
NTGR: 46.32 (-2.42)
KBS Real Estate Investment Trust II Announces Intent to Market Its Assets for Sale
Marketwire Canada - Tue May 31, 8:01AM CDT
NEWPORT BEACH, CA--(Marketwired - May 31, 2016) - As previously announced, on January 27, 2016, the board of directors of KBS Real Estate Investment Trust II, Inc. (the "Company"
formed a special committee (the "Special Committee" composed of all of the Company's independent directors to explore the availability of strategic alternatives involving the Company. As part of the process of exploring strategic alternatives, on February 23, 2016, the Special Committee engaged Evercore Group L.L.C. ("Evercore" to act as financial advisor to the Company to assist the Company and the Special Committee with this process. While the Special Committee continues to explore strategic alternatives for the Company, it has determined that it would be in the best interests of the Company and its stockholders to market for sale the Company's assets. Based on the results of this sales effort, the board of directors may conclude that it would be in the best interests of the Company and its stockholders to sell one or more of the Company's assets, and, depending on the scope of the proposed asset sales, thereafter to adopt a plan of liquidation that would involve the sale of the Company's remaining assets. In the event of such a determination, the proposed plan of liquidation would be presented to the Company's stockholders for approval. Alternatively, based on the results of the initial sales effort, the board of directors may conclude that it would be in the best interests of the Company and its stockholders for the Company to engage in a limited number of asset sales and continue to operate as a going concern, but with a portfolio that is smaller than the present portfolio. Griffin Capital Essential Asset REIT II Acquires NETGEAR Headquarters in San Jose, California
GlobeNewswire - Thu May 19, 3:29PM CDT
Griffin Capital Corporation ("Griffin Capital"
announced today, on behalf of Griffin Capital Essential Asset REIT II, Inc. (the "REIT", the acquisition of a 142,700 square-foot office and R&D facility fully leased to NETGEAR, Inc. ("NETGEAR" (NASDAQ:NTGR) which has occupied the facility as its corporate headquarters since 2008 ("Property". Originally constructed in 1984, the Property was renovated in 2015 coincident with a lease extension that extended the remaining term approximately 9.5 years through September 2025. The REIT purchased the Property for $44 million from KBS Real Estate Investment Trust II, Inc. ("Seller". NTGR: 46.32 (-2.42)
