secwatch.observer — SEC 8-K summary
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Issuer:     KBS Real Estate Investment Trust III, Inc. (KBSR)
CIK:        0001482430
Form:       8-K
Filed at:   2025-12-19T23:59:59+00:00
Accession:  0001482430-25-000057
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

KBS REIT III board sets estimated NAV at $2.70 per share, down 31% from $3.89
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1482430/000148243025000057/0001482430-25-000057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1482430/000148243025000057/kbsriii-20251218.htm
  HTML page:      https://secwatch.observer/filing/0001482430-25-000057

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