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Tender offer for KBS Strategic Opportunity REIT shares expires

A tender offer by Everest REIT Investors I LLC to buy a maximum of 600,000 shares of KBS Strategic Opportunity REIT Inc.'s common stock expired Oct. 10.

Following the expiration, Everest received roughly 57,874 shares that were validly tendered and not withdrawn. Including the tendered shares, Everest and its affiliates will own approximately 59,214 shares, or roughly 0.1%, of KBS' outstanding shares.

KBS had previously asked its shareholders to ignore the offer to buy its shares at $10.25 apiece, saying the amount was considerably below the value of the company's shares.