KBS REIT I & II To Explore Strategic Alternatives

KBS Real Estate Investment Trust I and KBS Real Estate Investment Trust II, two publicly registered non-traded REITs, both engaged Evercore Group to explore strategic alternatives.

Each REIT formed a special committee comprised of independent directors that appointed Evercore Group to act as the financial advisor for each company and to assist with the strategic alternatives exploration process.

In a filing with the Securities and Exchange Commission, the companies stated that while the process is underway, both “will remain 100 percent focused on managing its properties.”

KBS Real Estate Investment Trust I launched its initial public offering in January 2006 for up to 200 million shares of common stock and 80 million DRIP shares. The REIT raised $1.7 billion in its primary offering before its closing in May 2008, and $233.7 million under its dividend reinvestment plan which was terminated in April 2012. The company’s portfolio consists of 364 real estate properties, four real estate loans receivable, and a participation interest with respect to a real estate joint venture.

KBS Real Estate Investment Trust II launched its initial public offering in September 2007 for up to 200 million shares of common stock and 80 million DRIP shares. The offering closed in December 2010 and raised $1.8 billion in investor equity. The DRIP campaign was terminated in May 2014 after raising proceeds of $298.2 million. KBS REIT II’s portfolio consists of 10 office properties, one office/flex property, an office campus consisting of eight office buildings, and one real estate loan receivable.

KBS Capital Advisors is the external advisor to KBS Real Estate Investment Trusts. Since its inception, KBS-affiliated companies have completed transactional activity in excess of $31.1 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and six non-traded REITs.

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