{"schema_version":"secwatch.filing_event.v1","accession":"0001482430-25-000006","form_type":"8-K","ticker":"KBSR","cik":"0001482430","company_name":"KBS Real Estate Investment Trust III, Inc.","filed_at":"2025-02-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:03.746762+00:00","generated_at":"2026-05-26T22:49:09.457382+00:00","sec_items":["1.01","2.03"],"event_type":"debt","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"KBS REIT III extends $465.9M loan to Jan 2027; tighter covenants: paydown, cash sweep, dividend curb","bullets":["Maturity extended to Jan 22, 2027 with two 12-month extensions; interest at 1-month Term SOFR + 300 bps.","Principal paydown schedule: max facility must be ≤$420M by Dec 2025, ≤$300M by Dec 2026, ≤$150M by Dec 2027.","100% excess cash flow swept into collateral account; dividends restricted to REIT-required distributions only.","Advisory agreement amended: 10% asset mgmt fee deferred; disposition fee on property sales reduced to 0.65% of price.","Additional $15M funding for TI/LC/CapEx; $4M exit fee due at maturity or prepayment."],"urls":{"canonical":"https://secwatch.observer/filing/0001482430-25-000006","json":"https://secwatch.observer/filing/0001482430-25-000006.json","markdown":"https://secwatch.observer/filing/0001482430-25-000006.md","text":"https://secwatch.observer/filing/0001482430-25-000006.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1482430/000148243025000006/0001482430-25-000006-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1482430/000148243025000006/kbsriii-20250206.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-26T22:49:09.457382+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}