---
schema_version: "secwatch.filing_event.v1"
accession: "0001631256-23-000032"
form_type: "8-K"
ticker: null
cik: "0001631256"
company_name: "KBS Growth & Income REIT, Inc."
filed_at: "2023-07-24T23:59:59+00:00"
generated_at: "2026-06-13T04:14:43.251894+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# KBS Growth & Income REIT loses Commonwealth Building to foreclosure; $47.8M debt extinguished

## Summary
- Commonwealth Building in Portland sold at public auction on July 18, 2023 to buyer affiliated with lender Metropolitan Life Insurance Company.
- Property had $47.8M outstanding debt; building valued below that amount due to reduced rent and occupancy and weak Portland market conditions.
- Pro forma balance sheet as of March 31, 2023 shows removal of $37.3M net real estate and $47.8M notes payable, resulting in positive stockholders' equity.
- Pro forma net loss for year ended 2022 improves from $19.9M to $13.1M after excluding Commonwealth Building operations of $4.1M rental income and $1.7M interest.

## SEC filing metadata
- accession: 0001631256-23-000032
- form_type: 8-K
- cik: 0001631256
- company_name: KBS Growth & Income REIT, Inc.
- filed_at: 2023-07-24T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1631256/000163125623000032/0001631256-23-000032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1631256/000163125623000032/kbsgi-20230718.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001631256-23-000032
- JSON: https://secwatch.observer/filing/0001631256-23-000032.json
- Plain text: https://secwatch.observer/filing/0001631256-23-000032.txt

## Key facts
- M&A Transactions
  KBS Growth & Income REIT, Inc. completed a disposition involving a buyer affiliated with the Commonwealth Lender (closed 2023-07-18).
  - Action: disposition
  - Counterparty: a buyer affiliated with the Commonwealth Lender
  - Closing: 2023-07-18
  source text: On July 18, 2023, the Commonwealth Building was sold at public auction in a foreclosure sale to a buyer affiliated with the Commonwealth Lender and all interest in the Commonwealth Building was transferred to the buyer on that date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1631256/000163125623000032/0001631256-23-000032-index.htm

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