Company: KBSR
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001482430-25-000021
Chunk: 73

Company: KBS Real Estate Investment Trust III, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 15
Chunk 73
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2023 and 2022, the Company recognized $1.0 million, $11.9 million and $14.9 million of dividend income from its investment in the SREIT, respectively.  During the years ended December 31, 2024, 2023 and 2022, the Company recorded an unrealized loss on real estate equity securities of $11.2 million, $35.6 million and $92.8 million, respectively.  

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Table of ContentsKBS REAL ESTATE INVESTMENT TRUST III, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)December 31, 20248.      NOTES PAYABLE

As of December 31, 2024 and 2023, the Company’s notes payable consisted of the following (dollars in thousands):Book Value as of December 31, 2024Book Value as of December 31, 2023Contractual Interest Rate as of December 31, 2024 (1)Effective Interest Rate as of December 31, 2024 (1)Payment TypeMaturity Date (2)The Almaden Mortgage Loan (3)$118,440 $119,870 7.45%7.45%Principal &Interest02/01/2026201 Spear Street Mortgage Loan (4)— 125,000 (4)(4)(4)(4)Carillon Mortgage Loan (5)88,140 94,400 One-month Term SOFR (6) + 1.50%5.84%Principal &Interest04/11/2026Modified Portfolio Revolving Loan Facility (7)209,789 249,145 One-month Term SOFR + 3.00%7.34%Principal &Interest03/01/20263001 & 3003 Washington Mortgage Loan (8)138,807 140,410 One-month Term SOFR + 0.10% + 2.90%7.34%Interest Only05/06/2026Accenture Tower Loan (9)307,097 306,000 One-month Term SOFR + 3.00%7.34%Interest Only11/02/2026Credit Facility (10)62,852 37,500 One-month Term SOFR + 3.00%7.34%Principal & Interest09/30/2027Am