---
schema_version: "secwatch.filing_event.v1"
accession: "0001482430-24-000007"
form_type: "8-K"
ticker: "KBSR"
cik: "0001482430"
company_name: "KBS Real Estate Investment Trust III, Inc."
filed_at: "2024-02-12T23:59:59+00:00"
generated_at: "2026-06-06T04:14:30.750232+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# KBS REIT III extends $601M loan to Aug 2024; must raise $100M by July 15, 2024

## Summary
- Fourth Extension Agreement extends maturity of $601.3M portfolio loan facility to August 6, 2024.
- Lenders waived debt service coverage ratio tests for Dec 2023, Mar 2024, Jun 2024 and net worth covenant.
- Milestones: deliver cash flow plan by Feb 29, engage investment bank by Mar 29, raise $100M by Jul 15.
- KBS REIT III engaged Moelis & Company LLC on Feb 12 to assist with capital raising and restructuring.
- Substantial doubt about going concern; failure to meet milestones triggers immediate default.

## SEC filing metadata
- accession: 0001482430-24-000007
- form_type: 8-K
- ticker: KBSR
- cik: 0001482430
- company_name: KBS Real Estate Investment Trust III, Inc.
- filed_at: 2024-02-12T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1482430/000148243024000007/0001482430-24-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1482430/000148243024000007/kbsriii-20240206.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001482430-24-000007
- JSON: https://secwatch.observer/filing/0001482430-24-000007.json
- Plain text: https://secwatch.observer/filing/0001482430-24-000007.txt

## Key facts
- Debt Financings
  KBS Real Estate Investment Trust III, Inc. amended credit facility of aggregate outstanding balance approximately $601.3 million with Bank of America, N.A., as administrative agent; Wells Fargo Bank, N.A., as syndication agent; Portfolio Loan Lenders at not explicitly stated maturing extended to August 6, 2024.
  - Instrument: credit facility
  - Principal: aggregate outstanding balance approximately $601.3 million
  - Counterparty: Bank of America, N.A., as administrative agent; Wells Fargo Bank, N.A., as syndication agent; Portfolio Loan Lenders
  - Rate: not explicitly stated
  - Maturity: extended to August 6, 2024
  - Event: amendment
  source text: to extend the maturity of the facility to August 6, 2024. The aggregate outstanding principal balance of the Amended and Restated Portfolio Loan Facility was approximately $601.3 million as of February 6, 2024. Under the Fourth Extension Agreement, the Agent and the Portfolio Loan Lenders waived the requirement for the Properties to satisfy the minimum required
  evidence_url: https://www.sec.gov/Archives/edgar/data/1482430/000148243024000007/0001482430-24-000007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.