KBS Real Estate Investment Trust III, Inc. (KBSR): debt financing — KBS REIT III amends loan facility, extends maturity to Dec 2026, defers fees after $48M property sale

KBS Real Estate Investment Trust III, Inc.

Sold Gateway Tech Center for $50M; net proceeds $48.1M used to reduce loan balance by $47.5M.
Fifth Modification extends maturity to Dec 15, 2026 (possible to Mar 31, 2027); eliminates principal amortization.
Deferred REIT-level expenses and asset management fees until sale of remaining properties (515 Congress and 201 17th St).
Drew $1.8M for tenant improvements and $1.0M for tax escrow from holdbacks; modified cash management.
Management notes substantial doubt about going concern due to upcoming maturities and challenging office market.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

KBS Real Estate Investment Trust III, Inc. amended revolving credit of $160.4 million with U.S. Bank National Association, as administrative agent maturing December 15, 2026.

Instrument: revolving credit
Principal: $160.4 million
Counterparty: U.S. Bank National Association, as administrative agent
Maturity: December 15, 2026
Event: amendment

Exact text from the filing

Agreement and after giving effect to the disbursement of the holdbacks described below, the outstanding principal balance of the Modified Portfolio Revolving Loan Facility was $160.4 million, with no additional holdbacks available for future funding. The Fifth Modification Agreement extended the maturity date of the Modified Portfolio Revolving Loan Facility to

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KBS Real Estate Investment Trust III, Inc. filing history →

Source: SEC EDGAR

accession 0001482430-26-000016

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