Company: KBSR
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001482430-25-000054
Chunk: 76

Company: KBS Real Estate Investment Trust III, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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 Both Periods (2) 20252024Rental income$57,134 $63,538 $(6,404)(10)%$(7,771)$1,367 Dividend income from real estate equity securities285 427 (142)(33)%— (142)Other operating income4,206 4,642 (436)(9)%(631)195 Operating, maintenance and management17,833 18,751 (918)(5)%(1,583)665 Real estate taxes and insurance11,358 12,736 (1,378)(11)%(1,386)8 Asset management fees to affiliate4,501 4,942 (441)(9)%(482)41 General and administrative expenses911 6,292 (5,381)(86)%n/an/aDepreciation and amortization23,203 27,539 (4,336)(16)%(3,796)(540)Interest expense29,126 32,055 (2,929)(9)%(216)(2,713)Net (gain) loss on derivative instruments(551)14,918 (15,469)(104)%— (15,469)Impairment charges on real estate65,475 6,847 58,628 856 %— 58,628 Unrealized gain on real estate equity securities8,547 16,620 (8,073)(49)%— (8,073)Gain on sale of real estate, net77,401 — 77,401 100 %77,401 — Other interest income129 309 (180)(58)%n/an/a

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(1) Represents the dollar amount increase (decrease) for the three months ended September 30, 2025 compared to the three months ended September 30, 2024 related to the dispositions of properties after July 1, 2024.  Interest expense incurred on portfolio loans is not allocated to the individual properties that serve as collateral for these portfolio loans and therefore, the decrease in interest expense related to an office property sold in November 2024 and an office property sold in July 2025 is not reflected in the column for changes due to dispositions of properties.  In November 2024, we repaid $140.4 million of outstanding principal debt with the net sale proceeds from sale of an office property