Company: KBSR
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001482430-25-000054
Chunk: 20

Company: KBS Real Estate Investment Trust III, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 ended September 30, 2025, the Company recorded an unrealized gain on real estate equity securities of $8.5 million and $6.2 million, respectively.  During the three and nine months ended September 30, 2024, the Company recorded an unrealized gain on real estate equity securities of $16.6 million and unrealized loss on real estate equity securities of $7.4 million, respectively.  

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Table of ContentsPART I. FINANCIAL INFORMATION (CONTINUED)Item 1.  Financial Statements (continued)KBS REAL ESTATE INVESTMENT TRUST III, INC.CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)September 30, 2025(unaudited)8.       NOTES PAYABLE

As of September 30, 2025 and December 31, 2024, the Company’s notes payable, including notes payable related to real estate held for sale, consisted of the following (dollars in thousands): Book Value as ofSeptember 30, 2025Book Value as ofDecember 31, 2024Contractual Interest Rate as ofSeptember 30, 2025 (1)Effective Interest Rate as ofSeptember 30, 2025 (1)Payment TypeMaturity Date (2)The Almaden Mortgage Loan (3)$117,270 $118,440 7.45%7.45%Principal & Interest02/01/2026Carillon Mortgage Loan (4)89,186 88,140 One-month Term SOFR (5) +2.00%6.13%Principal & Interest12/31/2026Modified Portfolio Revolving Loan Facility (6)205,325 209,789 One-month Term SOFR + 3.00%7.13%Principal & Interest03/01/20263001 & 3003 Washington Mortgage Loan (7)138,807 138,807 One-month Term SOFR + 0.10% + 2.90%7.13%Interest Only05/06/2026Accenture Tower Loan (8)317,447 307,097 One-month Term SOFR + 3.00%7.13%Interest Only11/02/2026Credit Facility (9)37,500 62,852 One-month Term SOFR + 3.00%7.