KBS Strategic Opportunity REIT II Declares Cash and Stock Distributions
October 11, 2018 | James Sprow | Blue Vault
On October 10, 2018, KBS Strategic Opportunity REIT II’s board of directors declared cash distributions on the outstanding shares of all classes of its common stock based on daily record dates for the period from November 1, 2018 through November 30, 2018, which the Company expects to pay in December 2018. Investors may choose to receive cash distributions or purchase additional shares through the Company’s dividend reinvestment plan. Distributions for this period will be calculated based on stockholders of record each day during these periods at a rate of $0.00052548 per share per day. This equates to an annualized distribution rate of 1.92% based upon the $10.00 offering price.
Also on October 10, 2018, the Company’s board of directors authorized a stock dividend for the month of November 2018 in the amount of 0.001667 shares of common stock on each outstanding share of common stock, issuable to all common stockholders of record as of the close of business on November 30, 2018. Stock dividends are issued in the same class of shares as the shares for which such stockholder received the stock dividend. The Company expects to issue this stock dividend in December 2018.
The stock dividend at the rate of 0.001667 shares equates to a quarterly rate of 0.005 shares per quarter, which is the stock dividend rate paid for the last three quarters.
As of June 30, 2018, the Company had invested in two hotel properties, four office properties, one apartment building, an investment in an unconsolidated entity and an investment in real estate equity securities. Additionally, as of June 30, 2018, the Company had entered into a joint venture to develop one retail property, which is currently under construction.
Sources: SEC, Blue Vault
Learn more about KBS Capital Markets Group on the Blue Vault Sponsor Focus page
KBS REIT III Board Recommends Rejecting Two Third-Party Tender Offers
KBS Signs Over 30,000 Square Feet at Anchor Centre in Phoenix
KBS Legacy Sells Two Multifamily Properties in Continuing Liquidation
