BELLEVUE, Wash., March 19, 2020 /PRNewswire/ -- This notice of termination is pursuant to the tender offer by; CMG Partners, LLC, CMG Liquidity Fund, LLC and CMG Income Fund II, LLC (collectively the "Purchasers") to purchase up to 150,000 shares of common stock, (the "Shares"), in KBS Real Estate Investment Trust III, Inc. (the "Company"), at a purchase price equal to $6.01 per Share, upon the terms and subject to the conditions set forth in the Offer to Purchase (the "Offer to Purchase") and in the related Agreement of Assignment and Transfer, as each may be supplemented or amended from time to time (which together constitute the "Offer").
The Purchaser hereby irrevocably and unconditionally terminates the Offer. The Purchaser is terminating the Offer due to the occurrence of conditions described in Section 13(c) and 13(d) of the Offer to Purchase. The Purchaser's obligation to acquire Shares pursuant to the Offer was subject to various terms and conditions as specified in the Offer to Purchase, including conditions described in Section 13. Under the terms of the Offer, in the event of the occurrence of an event as detailed in Section 13 occurred at any time on or after the date of the Offer and before the Offer's expiration date, the Purchaser has the right to terminate the Offer.
The Purchaser has determined that multiple such conditions have occurred and has elected to terminate the Offer. None of the Shares were purchased in the Offer and, as a result of the termination, all of the Shares previously tendered will be promptly returned to the holders thereof, and no consideration will be paid to holders who have tendered their Shares.
Dated: March 17, 2020
CMG Partners, LLC
CMG Income Fund II, LLC
CMG Liquidity Fund, LLC
SOURCE CMG Partners, LLC
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