KBS REIT III reduces distribution to $0.03833/sh and suspends ordinary share redemptions

KBS Real Estate Investment Trust III, Inc.

Board authorized January and February 2023 distributions of $0.03833333 per share, reduced from prior periods due to economic slowdown.
Ordinary share redemptions suspended indefinitely; all pending requests canceled and no new requests accepted.
Suspension driven by rising interest rates, inflation, tenant lease expirations, and weakness in commercial office, especially San Francisco Bay Area.
Company cites need to preserve capital to manage portfolio; special redemptions (death, disability) will still be processed.

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