# EDGAR Filing Document

**Accession Number:** 0001631256
**File Stem:** 0001631256-23-000015
**Filing Date:** 2023-2
**Character Count:** 5444
**Document Hash:** 9e9ceeda44b4b0ba834b5ace5225a134
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001631256-23-000015.hdr.sgml**: 20230216

**ACCESSION NUMBER**: 0001631256-23-000015

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20230213

**ITEM INFORMATION**: Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement

**FILED AS OF DATE**: 20230216

**DATE AS OF CHANGE**: 20230216

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KBS Growth & Income REIT, Inc.
- **CENTRAL INDEX KEY:** 0001631256
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 472778257
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56050
- **FILM NUMBER:** 23639325

**BUSINESS ADDRESS:**
- **STREET 1:** 800 NEWPORT CENTER DRIVE
- **STREET 2:** SUITE 700
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660
- **BUSINESS PHONE:** 949-417-6500

**MAIL ADDRESS:**
- **STREET 1:** 800 NEWPORT CENTER DRIVE
- **STREET 2:** SUITE 700
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660

?xml version="1.0" ? kbsgi-20230213

    

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

______________

**FORM 8-K**

______________

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of**

**The Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): February 13, 2023

**KBS GROWTH & INCOME REIT, INC.**

(Exact Name of Registrant as Specified in Its Charter)

______________________________________________________

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| | | |
|:---|:---|:---|
| **Maryland** | **000-56050** | **47-2778257** |
| (State or Other Jurisdiction of<br>Incorporation or Organization) | (Commission File<br>Number) | (I.R.S. Employer<br>Identification No.) |

---

**800 Newport Center Drive, Suite 700**

**Newport Beach, California 92660**

(Address of principal executive offices)

Registrant's telephone number, including area code: (949) 417-6500

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered <br> <u>None</u> <u>N/A</u> <u>N/A</u>

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

    

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**ITEM 2.04 TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT**

On January 18, 2018, KBS Growth & Income REIT, Inc. (the "Company"), through an indirect wholly owned subsidiary (the "Commonwealth Borrower") entered into a loan agreement (the "Commonwealth Loan Agreement") secured by the Commonwealth Building in Portland, Oregon with the Metropolitan Life Insurance Company (the "Commonwealth Lender"), an unaffiliated lender, for borrowings of up to $51.4 million (the "Commonwealth Building Mortgage Loan").

On February 13, 2023, the Commonwealth Borrower defaulted on the Commonwealth Building Mortgage Loan following its failure to pay the amount of the debt outstanding and due to the lender on the February 1, 2023 maturity date. As previously disclosed, given the reduced rent and occupancy by the building's tenants, as well as the market conditions in Portland, Oregon, where the property is located, the Commonwealth Building is currently valued at less than the outstanding debt of $47.4 million. Given the depressed office rental rates and the continued social unrest and increased crime in downtown Portland where the property is located, the Company does not anticipate any near-term recovery in value. The Company may relinquish ownership of the property to the lender in a foreclosure transaction or other alternative to foreclosure in satisfaction of the mortgage. The loan is non-recourse to the Company.

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| | **KBS GROWTH & INCOME REIT, INC.** | **KBS GROWTH & INCOME REIT, INC.** |
| Dated: February 16, 2023 | BY: | /s/ Jeffrey K. Waldvogel |
| | | **Jeffrey K. Waldvogel** |
| | | *Chief Financial Officer, Treasurer and Secretary* |

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