NEWPORT BEACH, CA--(Marketwire -08/01/11)- The KBS Real Estate Investment Trust III (KBS REIT III) board of directors declared distributions based on daily record dates for the month of August 2011, which the company expects to pay in September 2011. KBS REIT III is a public, non-traded REIT.
The distributions are based on daily record dates from Aug. 1, 2011, through Aug. 31, 2011, at a rate of $0.00178082 per share per day. If paid daily for a 365-day period, the annualized rate would equal 6.5 percent based on a purchase price of $10 per share. Investors may elect to receive the cash distribution or purchase additional shares through KBS REIT III's dividend reinvestment plan.
Distributions for this period will be funded from an advance from KBS Capital Advisors LLC, KBS REIT III's external advisor. KBS Capital Advisors is not obligated to advance funds to KBS REIT III for distributions for any future periods.
KBS Capital Advisors is an affiliate of KBS Realty Advisors, which is a private equity real estate company and SEC-registered investment advisor founded by Peter Bren and Charles Schreiber, Jr. Since 1992, KBS Realty Advisors and its affiliated companies have completed transactional activity of approximately $20 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and five non-traded REITs. For information, visit www.kbsrealty.com.
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including discussions regarding KBS REIT III's ability to pay distribution, acquire a diverse portfolio and certain other factors that may affect future earnings or financial results. Such statements involve risks and uncertainties which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. Factors that may cause actual results to differ materially include changes in general economic conditions, changes in real estate conditions, changes in interest rates, lease-up risks, lack of financing availability and lack of capital proceeds.
- board of directors
- daily record dates
- Real Estate Investment Trust
- NEWPORT BEACH