KBS Legacy Partners Apartment REIT Pays Final Liquidating Distribution

KBS Legacy Partners Apartment REIT Inc., a publicly registered non-traded real estate investment trust, has paid its final liquidating distribution to stockholders of record as of the close of business on December 17, 2018.

KBS Legacy Partners Apartment REIT Inc., a publicly registered non-traded real estate investment trust, has paid its final liquidating distribution of approximately $0.26 per share to stockholders of record as of the close of business on December 17, 2018.

The company’s plan of liquidation was approved by stockholders in December 2017, and that same month, the company paid its initial liquidating distribution in the amount of $4.05 per share. The second liquidating distribution of $4.16 per share was paid in April 2018 after the company sold its last two multifamily properties for a combined $104.5 million and filed its articles of dissolution.

In addition, the REIT paid a $1.00 per share special distribution in May 2017 in connection with the disposition of Wesley Village. In total, shareholders received $9.47 per share in liquidating and special distributions. Shares were originally sold to investors for $10.00 each with an annualized distribution rate of 6.5 percent.

The REIT terminated its registration at the end of December 2018.

KBS Legacy Partners Apartment REIT’s initial offering was declared effective by the SEC in March 2010 and closed four years later after raising approximately $209 million.

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