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Corporate Technology Centre, San Jose, CA

< Back to KBS Real Estate Investment Trust I

KBS Real Estate Investment Trust I

Closed On May 31, 2008

Distribution History

Liquidation Distribution – December 14, 2017

CASH DISTRIBUTION HISTORY*

PERIOD DAILY DISTRIBUTION
|(Per Share)
ANNUALIZED
DISTRIBUTION RATE
July 18, 2006 – June 30, 2009 $0.00191781 7.00%
July 1, 2009 – February 28, 2012 $0.00143836 5.25%

*On March 20, 2012, the board of directors of KBS REIT I approved the suspension of monthly distribution payments. Effective April 10, 2012, KBS REIT I terminated its dividend reinvestment plan. See KBS REIT I’s Annual Report on Form 10-K for the year ended December 31, 2011 filed with the SEC for more information. KBS REIT I’s organizational documents do not restrict it from paying distributions from any source and do not restrict the amount of distributions it may pay from any source. Distributions paid from sources other than current or accumulated earnings and profits may constitute a return of capital.

Distributions had been paid monthly and were calculated based on stockholders of record each day during the periods and equal a daily amount that, if paid each day for a 365-day period, would have equaled a 7.0% or a 5.25% annualized rate based on a purchase price of $10.00 per share in KBS REIT I’s now-terminated primary initial public offering. There is no assurance that KBS REIT I will declare and pay distributions in the future. Distributions paid during this time period were funded with 77% from operating cash flows and 23% from debt financing and proceeds from sale of assets.
 

SPECIAL DISTRIBUTIONS*

PERIOD DISTRIBUTION
(Per Share)
RECORD DATE
November 2013 $0.3950 November 8, 2013
December 2015 $0.2500 December 1, 2015

*The November 2013 special distribution was funded from the proceeds from the sales of real estate and cash flow from operations and the December 2015 special distribution was funded from the proceeds from the sales of real estate.
 

RECENT DISTRIBUTIONS*

PERIOD DISTRIBUTION
(Per Share)
RECORD DATE
September 2014 $0.0250 September 30, 2014
December 2014 $0.0250 December 29, 2014
March 2015 $0.0250 March 20, 2015
June 2015 $0.0250 June 19, 2015
August 2015 $0.0250 September 18, 2015
December 2015 $0.0250 December 21, 2015
March 2016 $0.0250 March 21, 2016
June 2016 $0.0250 June 22, 2016
September 2016 $0.0250 September 22, 2016
December 2016 $0.0250 December 22, 2016
March 2017** $1.0000 March 21, 2017
December 2017*** $2.4000 December 14, 2017
December 2018**** $0.02386814 December 18, 2018

*Distributions paid from September 2014 through December 2016 have been funded with cash flow from operations.

**On March 10, 2017, the KBS REIT I’s Board of Directors authorized an initial liquidating distribution in the amount of $1.00 per share of common stock to the REIT’s stockholders of record as of the close of business on March 21, 2017. The initial liquidating distribution was paid on or about March 24, 2017, and was funded from proceeds from asset sales.

***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”). The Liquidating Distribution was paid on December 19, 2017 and was funded from proceeds from asset sales.

****On December 18, 2018, the KBS REIT I’s board of directors authorized a final liquidating distribution in the amount of $0.02386814 per share of common stock to the REIT’s stockholders of record as of the close of business on December 18, 2018 (the “Final Liquidating Distribution”). The Final Liquidating Distribution was paid on December 20, 2018 and was funded from the remaining net proceeds from the reserve fund established by the REIT pursuant to the Plan of Liquidation.

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