Company: KBSR
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001482430-25-000021
Chunk: 65

Company: KBS Real Estate Investment Trust III, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 15
Chunk 65
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599 (45,433)86,166 Towers at Emeryville12/23/2014EmeryvilleCAOffice223,697 (73,665)150,032 3003 Washington Boulevard12/30/2014ArlingtonVAOffice154,814 (49,418)105,396 Park Place Village06/18/2015LeawoodKSOffice/Retail87,836 (17,430)70,406 201 17th Street06/23/2015AtlantaGAOffice105,507 (37,952)67,555 515 Congress 08/31/2015Austin TXOffice137,475 (40,512)96,963 The Almaden09/23/2015San JoseCAOffice193,133 (56,081)137,052 3001 Washington Boulevard11/06/2015ArlingtonVAOffice60,999 (16,648)44,351 Carillon01/15/2016CharlotteNCOffice181,104 (49,165)131,939 $2,244,923 $(681,392)$1,563,531 _____________________(1) Amounts presented are net of impairment charges and write-offs of fully depreciated/amortized assets.As of December 31, 2024, the following property represented more than 10% of the Company’s total assets:PropertyLocationRentable Square FeetTotal Real Estate, Net (in thousands)Percentage of Total AssetsAnnualized Base Rent (in thousands) (1)OccupancyAccenture TowerChicago, IL1,457,724 $390,821 21.4 %$38,988 93.1 %_____________________(1) Annualized base rent represents annualized contractual base rental income as of December 31, 2024, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term.

F-20

Table of ContentsKBS REAL ESTATE INVESTMENT TRUST III, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)December 31, 20244.      REAL ESTATE (CONTINUED)

Operating LeasesThe Company’s office and office/retail properties are leased to tenants under operating leases for which the terms and expirations vary.  As of December 31, 2024,