KBS REIT II Approves Estimated Value per Share
(firmenpresse) - NEWPORT BEACH, CA -- (Marketwire) -- 12/27/11 -- On December 19, 2011, KBS Real Estate Investment Trust II (KBS REIT II) approved an estimated value per share of its common stock of $10.11, based on the estimated value of its assets less the estimated value of its liabilities, or net asset value, divided by the number of shares outstanding, all as of September 30, 2011. This initial post-offering valuation comes six months earlier than the 18-month guideline mandated by the Financial Industry Regulatory Authority.
KBS REIT II is providing this estimated value per share to assist broker-dealers that participated in the initial public offering in meeting their customer account statement reporting obligations.
To provide additional support for the valuation, KBS REIT II engaged Duff & Phelps, an independent real estate valuation firm. Duff & Phelps reviewed KBS REIT II's real estate valuations and concluded, based on limited set of procedures, that the methodologies and significant assumptions, including capitalization rates, discount rates and estimated cash flows, as well as the overall real estate value on a property by property basis, were reasonable.
KBS REIT II utilized a discounted cash flow analysis to value its investments. The key assumptions of the valuation are disclosed in its Current Report on Form 8-K filed with the SEC on December 21, 2011. The estimated value per share is only an estimate and is based upon a number of assumptions and estimates which ultimately could prove to be inaccurate or incomplete. KBS REIT II encourages its stockholders to carefully review the Current Report on Form 8-K filed with the SEC on December 21, 2011 for the assumptions and limitations of the valuation.
KBS REIT II is a public, non-traded real estate investment trust. It conducted its initial public offering from April 2008 through December 2010. KBS REIT II has acquired $2.8 billion in real estate and real estate-related assets from 2008 to 2011.
"KBS REIT II was able to acquire well-located, high-quality assets at a time when the global liquidity crisis minimized competition from other institutional buyers and treasury yields and interest rates hovered at historic lows," said KBS CEO, Charles J. Schreiber, Jr.
KBS REIT II is externally advised by KBS Capital Advisors LLC. KBS Capital Advisors is an affiliate of KBS Realty Advisors. KBS Realty Advisors is a private equity real estate company and SEC-registered investment advisor founded in 1992 by Peter Bren and Chuck Schreiber. Since 1992, KBS Realty Advisors and its affiliated companies have completed transactional activity of approximately $20 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and five non-traded REITs. For information, visit .
The foregoing includes forward-looking statements. These statements include statements regarding the intent, belief or current expectations of KBS REIT II and members of its management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should" or similar expressions. The valuation methodology for KBS REIT II's real estate investments assumes the properties realize the projected cash flows and expected exit cap rates and that investors would be willing to invest in such properties at yields equal to the expected discount rates. Though these are KBS REIT II's and its advisor's best estimates as of December 19, 2011, KBS REIT II can give no assurance in this regard. These statements also depend on factors such as KBS REIT II's ability to maintain occupancy levels and lease rates at its properties, the borrowers under KBS REIT II's loan investments continuing to make required payments under the investments, the ability of certain borrowers to maintain occupancy levels and lease rates at the properties securing KBS REIT II's investments, and other risks identified in Part I, Item IA of KBS REIT II's annual report on Form 10-K filed with the SEC. Actual events may cause the value and returns on KBS REIT II 's investments to be less than that used for purposes of KBS REIT II's estimated value per share.
Cindy Tullues or Bob Ochsner
DGWB for KBS Realty Advisors
(714) 881-2310
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Datum: 27.12.2011 - 12:00 Uhr
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