Investors to Receive Special Distribution of $4.05 Per Share

Non-traded REIT, KBS Real Estate Investment Trust II (KBS REIT II), announced yesterday that its board of directors has declared a distribution for the amount of $0.30 per share of common stock.

The distribution is funded by the company’s recent sale of Two Westlake Park in Houston, Texas. It sold the property to Bravo Strategies II LLC for $120 million. The 455,476-square-foot office building was first purchased by KBS REIT II in 2011.

Having sold a number of properties in recent months, KBS REIT II declared a cash distribution on July 8, 2014 of $3.75 per share. That distribution will be combined with this newly declared one of $0.30 per share for an aggregate amount of $4.05 per share of common stock

The distribution will be paid around September 23, 2014 to stockholders of record as of the close of business on September 15, 2014.

KBS REIT II expects that the distribution would consist of long term capital gains, depreciation recapture, and return of capital. It will also reduce the company’s estimated value per share, which will be reflected in the company’s updated estimated value per share. KBS REIT II expects to update it concurrently with the distribution in September 2014.

Formed in 2007, KBS REIT II closed its IPO in December, 2010 after raising almost $1.9 billion. It used a “hybrid” real estate investment strategy, acting as both an owner of real property and a lender. It has a diversified portfolio in major metropolitan markets as well as real estate-related loans.