KBS REIT III board approves estimated NAV of $3.89/share, down 31% from $5.60 last year

KBS Real Estate Investment Trust III, Inc.

Estimated value per share of $3.89 as of Dec 12, 2024, a decline of $1.71 (31%) from $5.60 in Dec 2023.
Decline driven by lower real estate property values due to commercial real estate challenges and high interest rates.
Real estate properties per share estimated at $14.51, down from $16.41; notes payable per share $10.69 (net of $0.46 improvement).
Total appraised value of 14 properties plus one sold was $2.2B; no enterprise value premium assumed.
Valuation performed by Kroll LLC, approved by conflicts committee and board, for FINRA Rule 2231 reporting purposes.

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