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KBS REIT to file articles of dissolution


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KBS REIT to file articles of dissolution

KBS Real Estate Investment Trust Inc. is planning to file its articles of dissolution with the State Department of Assessments and Taxation of Maryland on or about Oct. 9, as part of its stockholder-approved liquidation and dissolution plan.

The company aims to liquidate its remaining assets and distribute the net proceeds to its stockholders within the 24 months from Jan. 27.

As of Oct. 4, KBS has three real estate properties in its possession, of which two are under contract for sale.

KBS projects closing on the sales of these three properties during the fourth quarter and will distribute the bulk of the net proceeds from the liquidation shortly afterward.