Park Place Village, Leawood, KS
KBS Real Estate Investment Trust I
Closed On May 31, 2008
KBS REIT I is a non-traded Real Estate Investment Trust (REIT) that closed its initial public offering on May 31, 2008. KBS REIT I used a “hybrid” real estate investment strategy by acting as both an owner of real property and as a lender. As a result, KBS REIT I acquired a portfolio that included a diversified blend of office, industrial and bank branch properties throughout the United States, as well as real estate-related loans and securities.
The strategy of KBS REIT I was intended to provide increased risk management as well as broad portfolio diversification by property type, geographical region, investment size, and investment risk.
On January 27, 2017, the stockholders of the Company approved the sale of all of the Company’s assets and the Company’s dissolution pursuant to the terms of the Company’s plan of complete liquidation and dissolution (the “Plan of Liquidation”). On December 14, 2017, the Company’s board of directors authorized a liquidating distribution in the amount of $2.40 per share of common stock to the Company’s stockholders of record as of the close of business on December 14, 2017 (the “Liquidating Distribution”). On December 14, 2017, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $0.00, effective December 14, 2017, based on the authorization of the Liquidating Distribution of $2.40 per share and the amount of the reserve fund established by the Company pursuant to the Plan of Liquidation.
On December 18, 2018, KBS Real Estate investment Trust, Inc.’s (the “Company) board of directors authorized a Final Liquidating Distribution in the amount of $0.02386814 per share of common stock to the Company’s stockholders of record as of close of business on December 18, 2018. Following the payment of the Final Liquidating Distribution, all shares of the Company’s outstanding common stock was cancelled and no longer deemed to be outstanding and all rights of the holders thereof as stockholders has ceased and terminated. The Company filed the appropriate notification with the Securities and Exchange Commission to fully terminate its obligations under the U.S. securities laws.