Cash Distribution HistoryThere is no assurance KBS Growth & Income REIT will declare and pay cash distributions at this rate and the REIT may modify the rate at its discretion. Cash distributions paid through June 30, 2019, consisting of 55% paid in cash and 45% reinvested through the dividend reinvestment plan, have been funded with 67% coming from cash flow from operations, 6% from advances from the REIT’s advisor and 27% from debt financing. For more information, please refer to KBS Growth & Income REIT’s public filings.
AMOUNT PER SHARE
(Per Share Per Day)
The amount per share for Class T Shares was reduced by the 1% annual stockholder servicing fee for shares sold in the public offering. This servicing fee accrued daily and was paid monthly in arrears. KBS Growth & Income REIT’s primary public offering was terminated effective June 30, 2017. Pursuant to the terms of the Class T shares as set forth in the REIT’s offering documents, the REIT ceased accruing for stockholder servicing fees after June 30, 2017 and reversed the amounts previously accrued. Please see KBS Growth & Income REIT’s public filings for more information.
October 2015 – August 2017
November 2015 – September 2017
September 2017 – December 2017
October 2017 – January 2018
January 2018 – April 2018
February 2018 – May 2018
May 2018 – December 2018
June 2018 – January 2019
January 2019 – May 2019
February 2019 – June 2019
June 2019 – September 2019
As of August 12, 2019, distributions for August through September 2019 have been declared and the REIT expects to pay them on or about the first business day of the following month.
July 2019 – October 2019
$0.046 per month
Special DistributionsKBS Growth & Income REIT does not expect to authorize any additional stock dividends.
AMOUNT PER SHARE PAYMENT PERIOD
(Per Share Per Day)
September 30, 2015 – Dec. 31, 2015
October 1, 2015 – January 4, 2016
$0.0000273974 per day
January 31, 2016 – Dec. 31, 2016
February 1, 2016 – January 5, 2017
$0.0000273974 per day
January 31, 2017 – August 31, 2017
February 2, 2017 – September 5, 2017
$0.00083333 per period
*KBS REIT III has paid distributions monthly, since July 2011. For the periods from June 2011 through December 2018, distributions were calculated based on stockholders of record each day during the period at a daily rate of $0.00178082 per share per day and equaled a daily amount that, if paid each day for a 365-day period, would equal a 6.5% annualized rate based on the initial primary offering purchase price of $10.00 per share in the REIT’s now-terminated primary initial public offering. For the periods from January 2019 through September 2019, distributions are calculated based on stockholders of record on monthly record dates and equaled a monthly amount that, if paid each month for a 12-month period, would equal a 6.5% annualized rate based on the initial primary offering purchase price of $10.00 per share in the REIT’s now-terminated primary initial public offering or a 5.41% annualized rate based on the most recent estimated value per share of $12.02. There is no assurance that KBS REIT III will continue to declare and pay distributions at this rate and KBS REIT III may modify the rate at its discretion.
Distributions paid through June 30, 2019, consisting of 49% paid in cash and 51% reinvested through the dividend reinvestment plan, have been funded with 93% coming from cash flows from operations and 7% from debt financing. For more information, please refer to KBS REIT III’s public filing. Because a portion of the distributions paid to date were paid with borrowings, distributions and the distribution rates referenced above may not be sustainable.
KBS REIT III’s charter permits it to pay distributions from any source, including offering proceeds or borrowings (which may constitute a return of capital), and does not limit the amount of funds it may use from any source to pay such distributions. If KBS REIT III pays distributions from sources other than cash flows from operating activities, it will have less funds available to make real estate investments and the overall return to its stockholders may be reduced.