---
schema_version: "secwatch.filing_event.v1"
accession: "0001482430-24-000074"
form_type: "8-K"
ticker: "KBSR"
cik: "0001482430"
company_name: "KBS Real Estate Investment Trust III, Inc."
filed_at: "2024-12-20T23:59:59+00:00"
generated_at: "2026-05-29T00:15:38.576520+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001482430-24-000074
- form_type: 8-K
- ticker: KBSR
- cik: 0001482430
- company_name: KBS Real Estate Investment Trust III, Inc.
- filed_at: 2024-12-20T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1482430/000148243024000074/0001482430-24-000074-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1482430/000148243024000074/kbsriii-20241212.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001482430-24-000074
- JSON: https://secwatch.observer/filing/0001482430-24-000074.json
- Plain text: https://secwatch.observer/filing/0001482430-24-000074.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.