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 increase in portfolio value|
|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 from paying off loan at a discount, disposition of Roseville land and estimated increased value in the portfolio|
|7/20/2012||7/31/2012||$0.35190663||Estimated increase in portfolio value, as supported by a second round of completed broker’s opinion of values|
|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||100% of forecasted taxable income for 2013|
|3/31/2014||4/15/2014||$0.04931507||Based on Board’s determination of available cash flow; 2.0% Annualized|
|6/16/2014||6/23/2014||$0.05609600||Based on Board’s determination of available cash flow; 2.25% Annualized|
|9/15/2014||9/24/2014||$0.06931500||Based on Board’s determination of available cash flow; 2.75% Annualized|
|12/15/2014||12/29/2014||$0.08821900||Based on Board’s determination of available cash flow; 3.5% Annualized|
|2015 Total||$0.37500000||Based on Board’s determination of available cash flow; 3.75% Annualized|
|2016 Total||$0.37500000||Based on Board’s determination of available cash flow; 3.75% Annualized|
|2017 Q1, Q2 and Q3 Total||$0.28047945||Based on Board’s determination of available cash flow; 3.75% Annualized|
|12/7/2017||1/17/2018||$3.61000000||Special dividend primarily from the sale of 11 properties to Singapore REIT|
* Based on all distribution paid as of December 7, 2017, on a $10.00 per share initial public offering 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 September 30, 2017, consisting of 39% paid in cash and 61% reinvested through the dividend reinvestment plan, have been funded with 73% coming from cash provided by operations, 11% coming from dispositions of property and 19% 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.