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August 24, 2012

Program Updates: ARCT III, KBS Strat Opp, KBS REIT II, Ridgewood Energy

American Realty Capital Trust III, Inc. anticipates a close in September 2012.  The company has raised $1.15 Billion as of August 1, 2012.  As of July 15, 2012, the company had acquired 197 single tenant, free standing properties which were…

Program Updates: ARCT III, KBS Strat Opp, KBS REIT II, Ridgewood Energy

American Realty Capital Trust III, Inc. anticipates a close in September 2012.  The company has raised $1.15 Billion as of August 1, 2012.  As of July 15, 2012, the company had acquired 197 single tenant, free standing properties which were 100% leased as of such date.  Current distribution rate is 6.6% (subject to change at board of directors’ discretion).  For more information please visit the company’s website:  http://www.arct-3.com/

KBS Strategic Opportunity REIT has announced a Halloween closing date of October 31, 2012.  The Board of Directors has also announced a special distribution of 3.5%, $0.35 for each $10 share for all shareholders of record as of the close of business on Friday, July 20, 2012.  The distribution is scheduled for Tuesday, July 31 and will be paid in cash or, for investors enrolled in the distribution reinvestment plan, reinvested in additional shares.  For more information please visit the company’s website: https://www.kbs-cmg.com/

KBS REIT II Flips Northern Trust Office Building Note.  KBS REIT II purchased the A-Note for $58.1 million in December 2008, and acquired the B-Note for $2 million last month of the Northern Trust Building located in La Jolla, CA.  KBS REIT II sold the Northern Trust notes for approximately $85.8 million, resulting in an economic gain of $24.8 million after closing costs.  The Northern Trust Building was constructed in 1987 as a 10-story office tower offering 188,918 square feet of Class-A space. The building is located within the Plaza at La Jolla Village, a submarket of San Diego.  For more information please visit the company’s website: https://www.kbs-cmg.com/

LOGG Exploration Announces Two Discoveries.  COVINGTON, La., Aug 03, 2012 (BUSINESS WIRE) — LLOG Exploration Company, LLC along with its partners Ridgewood Energy, Red Willow Offshore, LLC, Calypso Exploration LLC, Deep Gulf Energy, and Houston Energy announce two discoveries at wells drilled earlier this year.  For more information please visit the company’s website: http://www.llog.com/

Disclosure:  Information found at 3rd party links is from sources South Coast believes reliable; however, we cannot guarantee their accuracy

-Posted by Chris

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