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KBS REIT's board authorizes final liquidating distribution

The board of KBS Real Estate Investment Trust Inc. authorized a final liquidating distribution of about 2.387 cents per share.

The amount will be paid on or about Dec. 20 to shareholders on record as of Dec. 18, the company said in a Dec. 20 SEC filing.

The company also entered into an assignment and assumption agreement with KBS Capital Advisors Sub REIT I Liquidation LLC, a subsidiary of its adviser, involving the transfer of certain remaining assets and liabilities to the latter.

KBS shareholders approved the real estate investment trust's liquidation and dissolution plan in January 2017 after strategic alternatives were explored in 2016.