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KBS REIT II schedules shareholder vote for liquidation proposal

KBS Real Estate Investment Trust II Inc. will ask its shareholders to vote on its liquidation and dissolution plan at the March 5, 2020, annual stockholder meeting.

The REIT opted for the liquidation plan, which will involve selling its properties, repaying its debts and distributing net proceeds to shareholders, following a review of strategic alternatives. It expects net proceeds from the liquidation to range between about $3.40 and $3.83 per share.

KBS REIT II said its board recommends that shareholders vote in favor of the liquidation proposal.