KBS Real Estate Investment Trust II, Inc. Announces Dissolution and Final Liquidating Distribution

KBS Real Estate Investment Trust II, Inc.

Company filed articles of dissolution effective April 24, 2023, as part of its complete liquidation plan.
Board authorized final liquidating distribution of $0.73433444 per share to stockholders of record on April 25, 2023.
Company entered into an Assignment and Assumption Agreement with subsidiary to transfer remaining assets for wind-down.
Final distribution expected on April 28, 2023; all shares will be cancelled and stockholders' rights terminated.
Stockholders advised to consult tax advisors regarding characterization of final distribution as return of capital.

item 1.01 item 3.03 item 5.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

KBS Real Estate Investment Trust II, Inc.: Filed articles of dissolution to effectuate plan of complete liquidation and dissolution (effective 2023-04-24).

Change: charter amendment
Effective: 2023-04-24

Exact text from the filing

On April 24, 2023, the Company filed articles of dissolution (the “Articles of Dissolution”) with the State Department of Assessments and Taxation of Maryland (the “SDAT”) pursuant to the Company’s plan of complete liquidation and dissolution (the “Plan of Liquidation”). The Plan of Liquidation was approved by the Company’s board of directors on November 13, 2019, subject to stockholder approval, and was approved by the Company’s stockholders on March 5, 2020. The Articles of Dissolution became effective upon their acceptance for record by the SDAT on April 24, 2023 (the “Effective Date”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

KBS Real Estate Investment Trust II, Inc. entered into Assignment and Assumption Agreement with KBS Capital Advisors Sub REIT II Liquidation LLC (effective 2023-04-25).

Action: entry
Counterparty: KBS Capital Advisors Sub REIT II Liquidation LLC
Effective: 2023-04-25

Exact text from the filing

On April 25, 2023, KBS Real Estate Investment Trust II, Inc. (the “Company”) entered into an Assignment and Assumption Agreement (the “Agreement”) with KBS Capital Advisors Sub REIT II Liquidation LLC (the “Assignee”), a wholly owned subsidiary of KBS Capital Advisors LLC (the “Advisor”), the Company’s external advisor.

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Source: SEC EDGAR

accession 0001411059-23-000043

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