KBS REIT III extends Accenture Tower loan to Nov 2026; rate +300 bps, $16M new availability

KBS Real Estate Investment Trust III, Inc.

Maturity extended from Dec 20, 2024 to Nov 2, 2026 with possible 12-month extension; outstanding principal $306M.
Interest rate increased to one-month Term SOFR plus 300 bps (previously plus 235 bps).
Total commitment raised to $322M: $306M outstanding plus $16M new funding for tenant improvements and capital costs.
100% excess cash flow from property deposited into collateral account; distributions restricted without lender consent.
Loan modification fee $995,600 paid to lenders; exit fee $650,000 due at maturity; REIT Properties III provides 25% principal guaranty.

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