Company: KBSR
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001482430-25-000054
Chunk: 1

Company: KBS Real Estate Investment Trust III, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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— Common stock, $.01 par value per share; 1,000,000,000 shares authorized, 148,516,246 and 148,516,246 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively1,485 1,485 Additional paid-in capital1,313,297 1,313,297 Cumulative distributions in excess of net income(1,118,098)(1,058,223)Total stockholders’ equity196,684 256,559 Total liabilities and equity$1,593,661 $1,823,445 

See accompanying condensed notes to consolidated financial statements.

2

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

KBS REAL ESTATE INVESTMENT TRUST III, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

(in thousands, except share and per share amounts)

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Revenues:Rental income$57,134 $63,538 $178,302 $193,576 Dividend income from real estate equity securities285 427 546 967 Other operating income4,206 4,642 12,548 13,688 Total revenues61,625 68,607 191,396 208,231 Expenses:Operating, maintenance and management17,833 18,751 52,150 53,852 Real estate taxes and insurance11,358 12,736 35,130 37,807 Asset management fees to affiliate4,501 4,942 13,728 14,762 General and administrative expenses911 6,292 5,729 14,155 Depreciation and amortization23,203 27,539 74,802 83,559 Interest expense29,126 32,055 87,981 97,716 Net (gain) loss on derivative instruments (551)14,918 315 (6,137)Impairment charges on real estate65,475 6,847 65,475 6,847 Total expenses151,856 124,080 335,310 302,561 Other income (loss):Unrealized gain (loss) on real estate equity securities