A California-based real estate investment trust is cutting dividends and suspending withdrawals, saying it needs to preserve capital because of a shaky economy, expiring leases and soft office demand in the San Francisco area where it owns several buildings.
California REIT Suspends Withdrawals Amid Weak Office Demand in Bay Area
KBS Real Estate Investment Trust III, Which Owns Buildings in and Around San Francisco, Also Reduces Dividends
By Ryan Ori
CoStar News
January 19, 2023 | 10:48 P.M.
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IN THIS ARTICLE
- Properties
- 201 Spear
201 Spear St, San Francisco, CA
- Accenture Tower
500 Madison St, Chicago, IL
- Ten Almaden
10 Almaden Blvd, San Jose, CA
- Tower I Emeryville
1900 Powell St, Emeryville, CA
- Tower III Emeryville
2000 Powell St, Emeryville, CA
- Companies
- KBS
Real Estate