Company: KBSR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001482430-25-000042
Chunk: 3

Company: KBS Real Estate Investment Trust III, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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CONTINUED)Item 1.  Financial Statements (continued)

KBS REAL ESTATE INVESTMENT TRUST III, INC.

CONSOLIDATED STATEMENTS OF EQUITY

For the Six Months Ended June 30, 2025 and 2024 (unaudited)

(dollars in thousands)

 Common StockAdditional Paid-in CapitalCumulative Distributions in Excess of Net Income Total Stockholders’ Equity SharesAmountsBalance, December 31, 2024148,516,246 $1,485 $1,313,297 $(1,058,223)$256,559 Net loss— — — (55,721)(55,721)Balance, June 30, 2025148,516,246 $1,485 $1,313,297 $(1,113,944)$200,838 

 Common StockAdditional Paid-in CapitalCumulative Distributions in Excess ofNet Income Total Stockholders’ Equity SharesAmountsBalance, December 31, 2023148,516,246 $1,485 $1,313,299 $(1,047,372)$267,412 Net income— — — 8,955 8,955 Other offering costs— — (2)— (2)Balance, June 30, 2024148,516,246 $1,485 $1,313,297 $(1,038,417)$276,365 

See accompanying condensed notes to consolidated financial statements.

5

Table of ContentsPART I. FINANCIAL INFORMATION (CONTINUED)Item 1.  Financial Statements (continued)

KBS REAL ESTATE INVESTMENT TRUST III, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

(in thousands)

Six Months Ended June 30,20252024Cash Flows from Operating Activities:Net (loss) income$(55,721)$8,955 Adjustments to reconcile net (loss) income to net cash provided by operating activities:Depreciation and amortization51,599 56,020 Unrealized loss on real estate equity securities2,374 24,023 Deferred rents(4,113)(5,696)Amortization of above- and below-market leases, net(151)(261)Amortization of deferred financing costs5,895 5,954 Unrealized