KBS Strategic Opportunity REIT II Inc., a publicly registered non-traded real estate investment trust, filed a registration statement for a $1 billion follow-on offering of its common stock, according to a filing with the Securities and Exchange Commission.
KBS Strategic Opportunity REIT II invests in opportunistic real estate, real estate-related loans, real estate-related debt securities and other real estate-related investments located in the United States and Europe.
The company is offering 180 million shares of Class A and Class T common stock for $10.00 and $9.63 per share, respectively, as well as $760 million shares for the company’s distribution reinvestment plan priced at $9.05 each.
Class A shares include a 6.5 percent selling commission and a 2 percent dealer manager fee, and Class T shares include a 3 percent selling commission, a 2 percent dealer manager fee, and a 1 percent annual stockholder servicing fee.
As reported by The DI Wire earlier this month, the REIT’s board approved an estimated NAVper share of $9.05 for the company’s common stock.
KBS Strategic Opportunity REIT II went effective in August 2014, and through a private placement offering and a subsequent initial public offering, has raised a total of $210 million in investor equity. The company’s portfolio is comprised of six investments with an investment cost of $334.3 million, according to Summit Investment Research.