{"schema_version":"secwatch.filing_event.v1","accession":"0001482430-24-000039","form_type":"8-K","ticker":"KBSR","cik":"0001482430","company_name":"KBS Real Estate Investment Trust III, Inc.","filed_at":"2024-07-18T23:59:59+00:00","discovered_at":"2026-05-14T18:03:13.207063+00:00","generated_at":"2026-05-31T19:37:47.279064+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 to Nov 6, 2024; must raise $100M by Oct 15 to avoid default","bullets":["Fifth Extension Agreement moves maturity from earlier date to November 6, 2024; outstanding principal ~$601.3M.","Interest rate switches from BSBY to one-month Term SOFR + 180 bps + 10 bps adjustment effective August 1, 2024.","Lenders waive DSCR covenant tests for Dec 31, 2023 through Sep 30, 2024 and net worth covenant through Nov 6, 2024.","Milestones: deliver $100M+ term sheet by Aug 15, cash flow plan by Sep 16, raise $100M+ by Oct 15; failure triggers immediate default.","Substantial doubt about going concern due to upcoming maturities, challenging lending environment, and leasing headwinds."],"urls":{"canonical":"https://secwatch.observer/filing/0001482430-24-000039","json":"https://secwatch.observer/filing/0001482430-24-000039.json","markdown":"https://secwatch.observer/filing/0001482430-24-000039.md","text":"https://secwatch.observer/filing/0001482430-24-000039.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1482430/000148243024000039/0001482430-24-000039-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1482430/000148243024000039/kbsriii-20240715.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-31T19:37:47.279064+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}