Company: KBSR
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001482430-25-000021
Chunk: 35

Company: KBS Real Estate Investment Trust III, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 15
Chunk 35
---
Inline XBRL Taxonomy Extension Definition Linkbase101.LABInline XBRL Taxonomy Extension Label Linkbase101.PREInline XBRL Taxonomy Extension Presentation Linkbase104Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

83

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

Consolidated Financial StatementsReport of Independent Registered Public Accounting Firm  (PCAOB ID: 42)F-2Consolidated Balance Sheets as of December 31, 2024 and 2023F-4Consolidated Statements of Operations for the Years Ended December 31, 2024, 2023 and 2022F-5Consolidated Statements of Equity for the Years Ended December 31, 2024, 2023 and 2022F-6Consolidated Statements of Cash Flows for the Years Ended December 31, 2024, 2023 and 2022F-7Notes to Consolidated Financial StatementsF-8Financial Statement ScheduleSchedule III - Real Estate Assets and Accumulated Depreciation and AmortizationF-45

All other schedules are omitted because they are not applicable or the required information is shown in the financial statements or notes thereto.

F-1

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and the Board of Directors of

KBS Real Estate Investment Trust III, Inc.

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheets of KBS Real Estate Investment Trust III, Inc. (the Company) as of December 31, 2024 and 2023, the related consolidated statements of operations, equity and cash flows for each of the three years in the period ended December 31, 2024, and the related notes and financial statement schedule listed in the Index at Item 15(a) (collectively referred to as the “consolidated financial statements”).  In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2024, in conformity with U.S. generally accepted accounting principles.  

The Company’s Ability to Continue as a Going Concern

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern.  As discussed in Note 2 to