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CMG Partners' tender offer for KBS REIT II shares expires

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CMG Partners' tender offer for KBS REIT II shares expires

The cash tenderoffer by CMG Income Fund II LLC, CMG Acquisition Co. LLC and CMG PartnersLLC for up to 9,750,000 common shares of KBSReal Estate Investment Trust II Inc. at $3.30 apiece expired.

Shareholders tendered and the buyers accepted for payment roughly263,882.1497 shares. After buying all the tendered shares, the three CMG companieswill collectively own approximately 998,631.6 shares, or about 0.528% of KBS REITII's total outstanding shares.

In May, KBS REIT II's board recommended shareholders the tender offer, saying theoffer price was "significantly less" than the shares' current value.