{"schema_version":"secwatch.filing_event.v1","accession":"0001482430-25-000057","form_type":"8-K","ticker":"KBSR","cik":"0001482430","company_name":"KBS Real Estate Investment Trust III, Inc.","filed_at":"2025-12-19T23:59:59+00:00","discovered_at":"2026-05-14T18:02:39.499714+00:00","generated_at":"2026-05-16T12:33:40.133392+00:00","sec_items":["8.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"KBS REIT III board sets estimated NAV at $2.70 per share, down 31% from $3.89","bullets":["Estimated value per share of $2.70, down 31% from $3.89 one year ago.","Real estate property values fell from $14.51 to $10.98 per share, driven by office sector headwinds.","Prime US REIT stake valued at $39.1M as of Nov 14, 2025; ownership reduced to 16.5% after private placement.","Appraised value of 12 office properties $1.6B, down from $1.7B acquisition cost plus $711.6M improvements.","Debt per share decreased from $10.69 to $8.63 due to property sales and paydowns."],"urls":{"canonical":"https://secwatch.observer/filing/0001482430-25-000057","json":"https://secwatch.observer/filing/0001482430-25-000057.json","markdown":"https://secwatch.observer/filing/0001482430-25-000057.md","text":"https://secwatch.observer/filing/0001482430-25-000057.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1482430/000148243025000057/0001482430-25-000057-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1482430/000148243025000057/kbsriii-20251218.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T12:33:40.133392+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"}