Kbs Real Estate (KBSR) 2.7500 $KBSR
KBS Real Estate Investment Trust Announces Intent to Market Its Assets for Sale
Marketwired - 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, 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.
KBS REIT III Acquires Village Center Station
GlobeNewswire - Thu May 21, 1:09PM CDT
KBS Real Estate Investment Trust III (KBS REIT III), a non-traded real estate investment trust based in Newport Beach, California, announced the acquisition of Village Center Station, a Class A development located in the City of Greenwood Village in Denver's southeast region.
KBS Real Estate Investment Trust Announces Intent to Market Its Assets for Sale
Marketwired - 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, 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. KBS REIT III Acquires Village Center Station
GlobeNewswire - Thu May 21, 1:09PM CDT
KBS Real Estate Investment Trust III (KBS REIT III), a non-traded real estate investment trust based in Newport Beach, California, announced the acquisition of Village Center Station, a Class A development located in the City of Greenwood Village in Denver's southeast region.
