{"schema_version":"secwatch.filing_event.v1","accession":"0001482430-24-000011","form_type":"8-K","ticker":"KBSR","cik":"0001482430","company_name":"KBS Real Estate Investment Trust III, Inc.","filed_at":"2024-02-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:24.297735+00:00","generated_at":"2026-06-06T01:07:20.978072+00:00","sec_items":["1.01","2.03"],"event_type":"debt","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"KBS REIT III extends loan maturity, restricts dividends; substantial doubt about going concern","bullets":["Existing $249.2M facility ($124.6M term + $124.6M revolving all drawn) extended to April 15, 2024 via Third Modification Agreement.","If McEwen Building sells (expected Feb 2024, $1M deposit), maturity may extend to March 1, 2026; interest rate set at SOFR+300bps with $880,900 quarterly principal payments.","Dividends and redemptions restricted except for required REIT distributions; no distributions expected during loan term.","Upon McEwen sale, borrower must prepay greater of $45M or net proceeds; holdbacks up to $17M for tenant improvements and capital expenditures.","Filing notes substantial doubt about KBS REIT III's ability to continue as a going concern due to upcoming maturities, market instability, and leasing challenges."],"urls":{"canonical":"https://secwatch.observer/filing/0001482430-24-000011","json":"https://secwatch.observer/filing/0001482430-24-000011.json","markdown":"https://secwatch.observer/filing/0001482430-24-000011.md","text":"https://secwatch.observer/filing/0001482430-24-000011.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1482430/000148243024000011/0001482430-24-000011-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1482430/000148243024000011/kbsriii-20240209.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T01:07:20.978072+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"b90e120b90ef0ece024cc45959084144a137c273","claim":"KBS Real Estate Investment Trust III, Inc. amended credit facility of $249.2 million with U.S. Bank National Association, Regions Bank, Citizens Bank, City National Bank, Associated Bank at one-month Term SOFR plus 300 basis points maturing April 15, 2024.","evidence_excerpt":"that KBS REIT III will complete the sale of the McEwen Building. As of February 9, 2024, the borrowing capacity under the Modified Portfolio Revolving Loan Facility was $249.2 million, of which $124.6 million was term debt and $124.6 million was revolving debt, all of which was outstanding. The Modified Portfolio Revolving Loan Facility had a maturity date of","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1482430/000148243024000011/0001482430-24-000011-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$249.2 million"},{"label":"Counterparty","value":"U.S. Bank National Association, Regions Bank, Citizens Bank, City National Bank, Associated Bank"},{"label":"Rate","value":"one-month Term SOFR plus 300 basis points"},{"label":"Maturity","value":"April 15, 2024"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}