MILWAUKEE, Jan. 12, 2018 (GLOBE NEWSWIRE) — Liquidity Partners Trust I, a private real estate investment firm, is offering to pay nearly $1.2 million for up to 375,000 shares of KBS Legacy Partners Apartment REIT, Inc. (“KBS LPAR” or the “Company”) common stock for $3.08 per share. The Offer to Purchase and Transfer Agreement are located at www.LiquidityPartners.net. Shares may also be redeemed via the website’s online portal. For assistance, please email TenderAgent@LiquidityPartners.net, or call (646) 883-2396.
KBS LPAR is a publicly-registered non-traded REIT. The Company was formed in July 2009 and commenced its initial public offering in March 2010. Through its completion of the initial offering in March 2013, KBS LPAR raised $179.2 million in investor equity. The Company is in the process of completing the liquidation of its four remaining real estate properties.
KBS LPAR recently approved an unaudited and estimated net asset value per share of $4.40 for the Company’s common stock, effective December 21, 2017. On December 19, 2017, the Company’s board of directors approved the termination of the Company’s share redemption program, but effectively stopped redeeming shares in August 2017.
If all shares in the current offer are tendered, Liquidity Partners Trust I will own approximately 1.78% of the common shares outstanding.