---
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"
generated_at: "2026-05-26T22:49:09.457382+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# KBS REIT III extends $465.9M loan to Jan 2027; tighter covenants: paydown, cash sweep, dividend curb

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001482430-25-000006
- JSON: https://secwatch.observer/filing/0001482430-25-000006.json
- Plain text: https://secwatch.observer/filing/0001482430-25-000006.txt

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