KBS REIT III completes $100M sale of Park Place Village, repays debt

KBS Real Estate Investment Trust III, Inc.

Sold Park Place Village (Leawood, KS) for gross $100M, net $95.5M after closing costs and $0.8M disposition fee.
Net proceeds used to pay off $65.2M mortgage loan and reduce Credit Facility by $25.4M to $37.5M outstanding.
Remaining net proceeds retained for general liquidity needs.
Property is 484,980 sq ft mixed-use on 17.1 acres; acquired June 2015.

item 8.01

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