424 Bedford, Brooklyn, NY
KBS Strategic Opportunity REIT
Closed On November 23, 2012
CASH DISTRIBUTION HISTORY*
|RECORD DATE||PAYMENT DATE||AMOUNT/SHARE*||REASON|
|12/23/2011||12/28/2011||$0.30000000||Estimated appreciation in the value of the REIT’s assets.|
|2/14/2012||2/17/2012||$0.02309337||Gain on the sale of one Roseville building|
|4/16/2012||4/30/2012||$0.02500000||Gain on extinguishment of debt related to 1635 N. Cahuenga, disposition of partially improved land in the Roseville portfolio and increase valuation of the REIT’s real estate assets.|
|7/20/2012||7/31/2012||$0.35190663||Estimated appreciation in the value of the REIT’s assets.|
|3/22/2013||4/4/2013||$0.06153498||Gain from the unsolicited sale of one building in the Richardson Portfolio|
|11/13/2013||12/5/2013||$0.38000000||Gain on foreclosure of real estate loan receivable, gain on sale of real estate and other estimated taxable income|
|12/7/2017**||1/17/2018||$3.61000000||Gain on sale of the Singapore Portfolio (20% paid in cash, 80% paid in stock)|
* Percentages presented are based on a $10.00 per share purchase price.
Because KBS Strategic Opportunity REIT intends to fund distributions from cash flow and strategic financing, at this time the REIT does not expect its board of directors to declare distributions on a set monthly or quarterly basis. Rather, the board of directors will declare distributions from time to time based on cash flow from the REIT’s investments, gains on sales of assets, increases in the value of the REIT’s assets after acquisition and the REIT’s investment and financing activities. As such, KBS Strategic Opportunity REIT can also give no assurances as to the timing, amount or notice with respect to any other future distribution declarations. Distributions paid through March 31, 2018, consisting of 53% paid in cash and 47% reinvested through the dividend reinvestment plan, have been funded with 56% coming from cash provided by operations, 32% coming from dispositions of property and 12% from debt financing. For more information, please refer to the KBS Strategic Opportunity REIT’s public filings. Because a portion of the distributions paid to date were paid with borrowings, distributions may not be sustainable. KBS Strategic Opportunity REIT’s organizational documents do not restrict it from paying distributions from any source and do not restrict that amount of distributions it may pay from any source, including offering proceeds. Distributions paid from sources other than current or accumulated earnings and profits may constitute a return of capital. A return of capital would reduce the amount the REIT would have for investment which could reduce an investor’s return on their investment. There are no guarantees that KBS Strategic Opportunity REIT will pay distributions or pay them at the rates similar to those referenced above.