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KBS Strategic Opportunity REIT urges stockholders to reject Coastal Realty's tender offer

KBS StrategicOpportunity REIT Inc.'s board recommended that shareholders rejectCoastal Realty Business Trust's cash tender offer for the company's common shares.

Coastal Realty offered to buy up to 3.0 million commonshares at $8.00 apiece.

The company said its board believes that the offer is"an opportunistic attempt" by the buyer to make a profit bypurchasing the shares at a low price.