KBS REIT III extends $465.9M portfolio loan to Feb 6, 2025; cites substantial doubt about going concern

KBS Real Estate Investment Trust III, Inc.

Short-term extension of Amended & Restated Portfolio Loan Facility to Feb 6, 2025; additional $4.97M advanced for property taxes.
Outstanding principal ~$465.9M as of Jan 27, 2025; facility secured by five properties.
Lenders waived debt service coverage and net worth covenants through maturity.
KBS REIT III continues to seek longer-term extension but no assurance; substantial doubt about ability to continue as going concern.

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