Company: KBSR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001482430-25-000042
Chunk: 122

Company: KBS Real Estate Investment Trust III, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 122
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REIT which represented 18.2% of the outstanding units of the SREIT.  As of June 30, 2025, the aggregate book value and fair value of the Company’s investment in the units of the SREIT was $38.2 million, which was based on the closing price of the SREIT units on the SGX-ST of $0.161 per unit as of June 30, 2025.  

During the six months ended June 30, 2025 and 2024, the Company recognized $0.3 million and $0.5 million of dividend income from its investment in the SREIT, respectively.  During the three months ended June 30, 2025, the Company recorded an unrealized gain on real estate equity securities of $2.8 million, and during the six months ended June 30, 2025, the Company recorded an unrealized loss on real estate equity securities of $2.4 million.  During the three and six months ended June 30, 2024, the Company recorded an unrealized loss on real estate equity securities of $4.5 million and $24.0 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)June 30, 2025(unaudited)8.       NOTES PAYABLE

As of June 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 ofJune 30, 2025Book Value as ofDecember 31, 2024Contractual Interest Rate as ofJune 30, 2025 (1)Effective Interest Rate as ofJune 30, 2025 (1)Payment TypeMaturity Date (2)The Almaden Mortgage Loan (3)$117,660 $118,440 7.45%7.45%Principal & Interest02/01/2026Carillon Mortgage Loan (4)89,143 88,140 One-month Term SOFR (5) +2.00%6.32%