Company: KBSR
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001482430-25-000054
Chunk: 241

Company: KBS Real Estate Investment Trust III, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 241
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 of Operations (continued)

Comparison of the nine months ended September 30, 2025 versus the nine months ended September 30, 2024 

Nine Months Ended September 30,Increase(Decrease)Percentage Change$ Changes Due to Dispositions of Properties (1)$ Change Due to Properties HeldThroughout Both Periods (2) 20252024Rental income$178,302 $193,576 $(15,274)(8)%$(17,106)$1,832 Dividend income from real estate equity securities546 967 (421)(44)%— (421)Other operating income12,548 13,688 (1,140)(8)%(1,358)218 Operating, maintenance and management52,150 53,852 (1,702)(3)%(3,863)2,161 Real estate taxes and insurance35,130 37,807 (2,677)(7)%(2,455)(222)Asset management fees to affiliate13,728 14,762 (1,034)(7)%(1,119)85 General and administrative expenses5,729 14,155 (8,426)(60)%n/an/aDepreciation and amortization74,802 83,559 (8,757)(10)%(7,666)(1,091)Interest expense87,981 97,716 (9,735)(10)%(978)(8,757)Net loss (gain) on derivative instruments315 (6,137)6,452 (105)%— 6,452 Impairment charges on real estate65,475 6,847 58,628 856 %— 58,628 Unrealized gain (loss) on real estate equity securities6,173 (7,403)13,576 (183)%— 13,576 Gain from extinguishment of debt— 56,372 (56,372)(100)%(56,372)— Gain on sale of real estate, net77,401 14,781 62,620 424 %62,620 — Other interest income465 991 (526)(53)%n/an/a

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(1) Represents the dollar amount increase (decrease) for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024 related to the dispositions