KBS Real Estate Investment Trust III, Inc. announces an Equity Buyback for 33,849,130 shares, for $350 million.
June 03, 2021 at 05:01 pm
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KBS Real Estate Investment Trust III, Inc. (OTCPK:KBSR) announces a share repurchase program. Under the program, the company will repurchase up to 33,849,130 shares for $350 million. The shares will be repurchased at a price of $10.34 per share. The Offer is designed to provide limited liquidity to holders of shares for which there is no current public market. The program will expire on July 1, 2021, unless extended or withdrawn.
KBS Real Estate Investment Trust III, Inc. is a real estate investment trust (REIT). The Company acquires and manages a diverse portfolio of core real estate properties. The Company conducts its business through KBS Limited Partnership III (the Operating Partnership). The Company's primary investment focus was core office properties located throughout the United States, through which the Company invests in other types of properties and real estate-related investments. The Company owns approximately 16 office properties, one mixed-use office/retail property and an investment in the equity securities of a Singapore real estate investment trust (the SREIT). The primary types of office properties the Company intends to invest in include low-rise, mid-rise and high-rise office buildings and office parks in urban and suburban locations. The Company is managed by KBS Capital Advisors LLC.
KBS REAL ESTATE INVESTMENT TRUST III, INC. 
