UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 28, 2014
KBS REAL ESTATE INVESTMENT TRUST II, INC.
(Exact Name of Registrant as Specified in Its Charter)
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Maryland | 000-53649 | 26-0658752 | ||
(State or Other Jurisdiction of Incorporation or Organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||
620 Newport Center Drive, Suite 1300
Newport Beach, California 92660
(Address of principal executive offices)
Registrant’s telephone number, including area code: (949) 417-6500
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
£ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
£ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
£ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
£ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01 OTHER EVENTS
Disposition of CityPlace Tower
On April 6, 2011, KBS Real Estate Investment Trust II, Inc. (the “Company”), through an indirect wholly owned subsidiary, KBSII CityPlace Tower, LLC (the “Owner”), purchased an 18-story office building containing 295,933 rentable square feet (“CityPlace Tower”). CityPlace Tower is located at 525 Okeechobee Boulevard in West Palm Beach, Florida on approximately 1.25 acres of land.
On July 28, 2014, the Owner entered into a purchase and sale agreement and escrow instructions (the “Agreement”) for the sale of CityPlace Tower to a purchaser unaffiliated with the Company or its advisor. Pursuant to the Agreement, the sale price for CityPlace Tower is $150.0 million. As of July 28, 2014, the Company’s aggregate cost of CityPlace Tower was $131.0 million, which includes the initial purchase price of $126.5 million plus capital expenditures and lease commissions since acquisition of $3.2 million and acquisition fees and expenses of $1.3 million.
There can be no assurance that the Company will complete the sale of CityPlace Tower. The purchaser would be obligated to purchase CityPlace Tower only after satisfaction of agreed upon closing conditions. In some circumstances, if the purchaser fails to complete the acquisition, it may forfeit up to $15.0 million of earnest money.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
KBS REAL ESTATE INVESTMENT TRUST II, INC. | ||||||
Dated: August 7, 2014 | BY: | /s/ David E. Snyder | ||||
David E. Snyder | ||||||
Chief Financial Officer | ||||||