Company: KBSR
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001482430-25-000054
Chunk: 3

Company: KBS Real Estate Investment Trust III, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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Table of ContentsPART I. FINANCIAL INFORMATION (CONTINUED)Item 1.  Financial Statements (continued)

KBS REAL ESTATE INVESTMENT TRUST III, INC.

CONSOLIDATED STATEMENTS OF EQUITY

For the Nine Months Ended September 30, 2025 and 2024 (unaudited)

(dollars in thousands)

 Common StockAdditional Paid-in CapitalCumulative Distributions in Excess of Net Income Total Stockholders’ Equity SharesAmountsBalance, December 31, 2024148,516,246 $1,485 $1,313,297 $(1,058,223)$256,559 Net loss— — — (59,875)(59,875)Balance, September 30, 2025148,516,246 $1,485 $1,313,297 $(1,118,098)$196,684 

 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 loss— — — (29,589)(29,589)Other offering costs— — (2)— (2)Balance, September 30, 2024148,516,246 $1,485 $1,313,297 $(1,076,961)$237,821 

See accompanying condensed notes to consolidated financial statements.

5

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)

Nine Months Ended September 30,20252024Cash Flows from Operating Activities:Net loss$(59,875)$(29,589)Adjustments to reconcile net loss to net cash provided by operating activities:Depreciation and amortization74,802 83,559 Impairment charges on real estate65,475 6,847 Unrealized (gain) loss on real estate equity securities(6,173)7,403 Deferred rents(5,200)(7,724)Amortization of above- and below