KBS REIT III extends Accenture Tower loan to Dec 10, 2024; $306M principal

KBS Real Estate Investment Trust III, Inc.

Third Modification extends maturity by ~5 weeks to Dec 10, 2024; removes prior 12-month extension option.
Lenders waived net worth, leverage, and EBITDA-to-fixed-charges covenants from Nov 1 through Dec 10, 2024.
Outstanding principal $306M ($229.5M term, $76.5M revolving); no longer-term extension assured.
Filing reiterates substantial doubt about going concern due to upcoming maturities and office market headwinds.
KBS continues to work with lenders but cautions no assurance on timing or certainty of a longer-term solution.

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