KBS Strategic Opportunity REIT II Declares Net Asset Value

The board of KBS Strategic Opportunity REIT II Inc., a publicly registered non-traded real estate investment trust, approved an estimated net asset value of the company’s common stock of $9.05 per share, according to a filing with the Securities and Exchange Commission. The NAV per share is the first disclosed by the company.

The valuation, which was performed within IPA guidelines, is based on the estimated value of the REIT’s assets less the estimated value of its liabilities, divided by the number of shares outstanding, as of March 31, 2017. Duff & Phelps, a third-party valuation advisory firm, assisted with the valuation.

As of March 31, 2017, the REIT had sold 22 million shares of common stock in its private offering and separate private transactions, as well as its initial public offering, at an average price of approximately $9.58 per share.

In April, the REIT expanded its board and appointed Kenneth Yee as an independent director.

KBS Strategic Opportunity REIT II invests in opportunistic real estate, real estate-related loans, real estate-related debt securities and other real estate-related investments located in the United States and Europe. The REIT went effective in August 2014, and through a private placement offering and subsequent initial public offering, has raised a total of $210 million in investor equity. The company’s portfolio is comprised of six investments with an investment cost of $334.3 million, according to Summit Investment Research.

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