KBS REIT III extends $306M Accenture Tower loan to Dec 18; lenders waive key covenants

KBS Real Estate Investment Trust III, Inc.

Maturity extended twice: first to Dec 13 then to Dec 18, 2024.
Outstanding balance $306.0M ($229.5M term + $76.5M revolving).
Lenders waived net worth, leverage ratio, and EBITDA-to-fixed-charges covenants through Dec 18.
Company warns of substantial doubt about going concern for at least one year from Nov 14, 2024.
No assurance of longer-term extension or refinancing; loan cross-default provisions may accelerate other debt.

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