Company: KBSR
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001482430-25-000036
Chunk: 2

Company: KBS Real Estate Investment Trust III, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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 Equity SharesAmountsBalance, December 31, 2024148,516,246 $1,485 $1,313,297 $(1,058,223)$256,559 Net loss— — — (33,272)(33,272)Balance, March 31, 2025148,516,246 $1,485 $1,313,297 $(1,091,495)$223,287 

 Common StockAdditional Paid-in CapitalCumulative Distributions in Excess ofNet Income Total Stockholders’ Equity SharesAmountsBalance, December 31, 2023148,516,246 $1,485 $1,313,299 $(1,047,372)$267,412 Net income— — — 37,574 37,574 Other offering costs— — (2)— (2)Balance, March 31, 2024148,516,246 $1,485 $1,313,297 $(1,009,798)$304,984 

See accompanying condensed notes to consolidated financial statements.

4

Table of ContentsPART I. FINANCIAL INFORMATION (CONTINUED)Item 1.  Financial Statements (continued)

KBS REAL ESTATE INVESTMENT TRUST III, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

(in thousands)

Three Months Ended March 31,20252024Cash Flows from Operating Activities:Net (loss) income$(33,272)$37,574 Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:Depreciation and amortization26,406 27,534 Unrealized loss on real estate equity securities5,223 19,512 Deferred rents(2,236)(3,488)Amortization of above- and below-market leases, net(80)(160)Amortization of deferred financing costs2,312 2,482 Unrealized loss (gain) on derivative instruments4,523 (8,904)Gains related to swap terminations— (178)Interest rate swap settlement for early terminated swaps— 6,552 Gain from extinguishment of debt— (56,372)Gain on sale of real estate— (14,781)Changes in operating assets and liabilities:Rents and other receivables