KBS Real Estate Investment Trust Inc. received a cash tender offer for up to 9,260,000 shares of its common stock.

Everest REIT Investors I LLC and Everest REIT Investors II LLC offered to buy the shares at $2.56 apiece, without interest. If all shares sought are tendered in the offer, the buyers would be required to pay a total of about $23.7 million, for which they have the capital available and committed. The offer will expire at 5 p.m. PT on March 10, unless extended.

The investors and their affiliates currently beneficially own 1,450 shares of the REIT.