NEWPORT BEACH, CA—KBS Real Estate Investment Trust III says it has modfied its agreement with its advisor for the deferment fees under certain circumstances.
“KBS REIT III” says that KBS Capital Advisors, LLC, the REIT's external advisor, will defer asset management fees in any month that KBS REIT III's modified funds from operations (MFFO), does not exceed the amount of distributions declared for that month.
The amendment to the advisory agreement between KBS REIT III and the Advisor pertains to asset management fees that began accruing on March 1, 2014, and helps KBS REIT III get to full coverage of its distribution to shareholders from MFFO.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
