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KBS Legacy Partners Apartment REIT engages financial adviser to help explore strategic alternatives

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KBS Legacy Partners Apartment REIT engages financial adviser to help explore strategic alternatives

KBS Legacy PartnersApartment REIT Inc. has engaged Robert A. Stanger & Co. Inc. toact as financial adviser to assist the company and its special committee with exploringstrategic alternatives.

According to an April 11 filing by the REIT, the company's boardof directors in January formed a special committee, comprising all of the company'sindependent directors, to explore the availability of strategic alternatives involvingthe company with the goal of providing liquidity options for KBS Legacy PartnersApartment investors while preserving and maximizing overall returns on the company'sinvestment portfolio.

While it conducts the process, the company noted, it will remainfully focused on managing its properties.