KBS Real Estate Investment Trust III, Inc. Announces Special Dividend
November 08, 2019 at 05:02 pm EST
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On October 23, 2019, KBS Real Estate Investment Trust III, Inc.'s board of directors authorized a special dividend (Special Dividend") in the amount of $0.80 per share of common stock to stockholders of record as of the close of business on November 4, 2019 (the Record Date). The Special Dividend will be paid in December 2019 to stockholders of record as of the close of business on the Record Date. The Special Dividend is payable in the form of either (1) cash or (2) shares of the Company's common stock, at the election of Company stockholders provided that the aggregate amount of cash to be distributed by the Company will be limited to a maximum of 35% of the total Special Dividend (the Maximum Cash Distribution), with the remainder to be paid in shares of the Company's common stock.
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. 
