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KBS Growth & Income REIT recommends against MacKenzie's mini-tender offer

KBS Growth & Income REIT Inc. is urging its stockholders to reject a mini-tender offer launched by MacKenzie Realty Capital Inc.

MacKenzie is offering to buy up to 400,000 shares of the nontraded real estate investment trust's common stock at $4.25 per share.

The REIT said the offer was not in the best interest of its stockholders, as the bid price is substantially lower than the value of the company's shares.