KBS REIT I Distribution

6/17/16

Previous Price = 3.94 12/15

Distribution = .25 or 4.30
New Price = $8.24
New Price =
Notes:

Portfolio
o 35% leveraged
o 86% leased
o Waiting for defeasance penalties to decrease on loans
Selling grammar c assets
o Shareholder vote potential liquidation
Estimated nav with distribution = 8.24 if first dollar in 7 if last dollar
Potential liquidation reasons
o A lot of people want to liquidate
o Triple net lease are hurt by interest rate perception
o Should liquidate by year end/Q1 2017
o

Valuation Breakdown:

Distribution Info:

Going Forward:

Hypothetical Performance:

Sales:

Property Sale Highlight:

KBS REIT II
6/17/2016
Current NAV = 5.62
Distribution = 4.5 Total Distribution of 8.98
New Price =
New Price =
Notes:

Hybrid REIT part debt, part equity

Cumulative distribution 8.99 day 1
1st 14.60 last 13.11
Getting ready to liquidate
Update nav in Q2