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): November 20, 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 Crescent VIII
On May 26, 2010, KBS Real Estate Investment Trust II, Inc. (the “Company”), through an indirect wholly owned subsidiary, KBSII Crescent VIII, LLC (the “Owner”), purchased a four-story office building containing 82,265 rentable square feet on approximately 4.2 acres of land in Greenwood Village, Colorado (“Crescent VIII”). On November 20, 2014, the Company sold Crescent VIII to a purchaser unaffiliated with the Company or its advisor for $17.25 million or $16.4 million net of concessions and credits. The cost of Crescent VIII was $14.5 million, which includes the initial purchase price of $12.5 million plus capital expenditures and lease commissions since acquisition of $1.8 million and acquisition fees and expenses of $0.2 million. The sale price per square foot of Crescent VIII, net of concessions and credits, but excluding closing costs and expenses, was approximately $199 compared to a cost per square foot of approximately $176.
On November 20, 2014, in connection with the disposition of Crescent VIII, the Company repaid $8.6 million of the outstanding principal balance due under a portfolio mortgage loan which was partially secured by Crescent VIII.
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.
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| | | KBS REAL ESTATE INVESTMENT TRUST II, INC. |
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| Dated: November 20, 2014 | | BY: | | /s/ David E. Snyder |
| | | | | David E. Snyder |
| | | | | Chief Financial Officer |
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