secwatch.observer — SEC 8-K summary
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Issuer:     KBS Real Estate Investment Trust III, Inc. (KBSR)
CIK:        0001482430
Form:       8-K
Filed at:   2024-12-20T23:59:59+00:00
Accession:  0001482430-24-000074
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1482430/000148243024000074/0001482430-24-000074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1482430/000148243024000074/kbsriii-20241212.htm
  HTML page:      https://secwatch.observer/filing/0001482430-24-000074

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