Highest-materiality recent filing
Sold Gateway Tech Center for $50M; net proceeds $48.1M used to reduce loan balance by $47.5M.
KBS REIT III extends $205.5M loan facility maturity to March 25, 2026 with conditions
Fourth Modification Agreement extends Modified Portfolio Revolving Loan Facility from March 1 to March 25, 2026, subject to conditions not in KBS's sole control.
KBS REIT III files Jan 2026 presentation with estimated NAV update; no specific figures disclosed
Presentation discusses portfolio composition and estimated value per share as of January 2026.
KBS REIT III board sets estimated NAV at $2.70 per share, down 31% from $3.89
Estimated value per share of $2.70, down 31% from $3.89 one year ago.
KBS REIT III renews advisory agreement with KBS Capital Advisors through Sept 2026
Advisory agreement renewed for one year, expiring September 27, 2026.
KBS REIT III completes $100M sale of Park Place Village, repays debt
Sold Park Place Village (Leawood, KS) for gross $100M, net $95.5M after closing costs and $0.8M disposition fee.
KBS REIT III directors fail to receive majority votes at annual meeting; hold-over
None of the five director nominees received majority votes due to 56.5M broker non-votes.
West 4 Capital LP offers $0.80/share for up to 2,295,000 shares (1.55% of outstanding).
KBS REIT III neutral on Comrit mini-tender at $0.80; details liquidity and going concern risks
Comrit offers $0.80/share for up to 1,562,500 shares (1.05% of outstanding).
Company furnished an investor presentation on February 28, 2025, discussing portfolio and estimated value per share.
KBS REIT III extends $465.9M loan to Jan 2027; tighter covenants: paydown, cash sweep, dividend curb
Maturity extended to Jan 22, 2027 with two 12-month extensions; interest at 1-month Term SOFR + 300 bps.
Short-term extension of Amended & Restated Portfolio Loan Facility to Feb 6, 2025; additional $4.97M advanced for property taxes.
KBS REIT III extends Accenture Tower loan to Nov 2026; rate +300 bps, $16M new availability
Maturity extended from Dec 20, 2024 to Nov 2, 2026 with possible 12-month extension; outstanding principal $306M.
KBS REIT III board approves estimated NAV of $3.89/share, down 31% from $5.60 last year
Estimated value per share of $3.89 as of Dec 12, 2024, a decline of $1.71 (31%) from $5.60 in Dec 2023.
KBS REIT III extends $306M Accenture Tower loan to Dec 18; lenders waive key covenants
Maturity extended twice: first to Dec 13 then to Dec 18, 2024.
Substantial doubt about ability to continue as a going concern for at least one year from Nov 14, 2024.
KBS REIT III extends Accenture Tower loan to Dec 10, 2024; $306M principal
Third Modification extends maturity by ~5 weeks to Dec 10, 2024; removes prior 12-month extension option.
Sixth loan extension on $601.3M facility to Nov 20, 2024; covenants waived; going concern doubt
Sixth extension of $601.3M portfolio loan facility moves maturity to Nov. 20, 2024.
KBS REIT III renews advisory agreement with KBS Capital Advisors through Sept 2025
Renewed advisory agreement effective through September 27, 2025, with unlimited one-year renewals by mutual consent.
KBS REIT III directors fail to win majority vote, remain hold-over directors
Five director nominees each received fewer than 51% of votes cast; broker non-votes of 32.8M shares counted as against.
KBS REIT III Board Remains Neutral on Comrit Mini-Tender Offer for Up to 3.85M Shares
Comrit Investments 1, LP offered $1.04 per share for up to 3,846,153 shares (2.59% of outstanding common stock).
KBS REIT III extends loan maturity to Nov 6, 2024; must raise $100M by Oct 15 to avoid default
Fifth Extension Agreement moves maturity from earlier date to November 6, 2024; outstanding principal ~$601.3M.
KBS REIT III neutral on $2.02 mini-tender; discloses going concern doubt, $1.2B maturities
Board neutral on Comrit mini-tender at $2.02/share for up to 1.73M shares (1.17% of outstanding).
KBS REIT III sells McEwen Building for $48.8M, modifies loan with going concern warning
Sale of McEwen Building for $48.8M; net proceeds $46.2M applied to reduce loan principal to $203M.
KBS REIT III extends loan maturity, restricts dividends; substantial doubt about going concern
Existing $249.2M facility ($124.6M term + $124.6M revolving all drawn) extended to April 15, 2024 via Third Modification Agreement.
KBS REIT III extends $601M loan to Aug 2024; must raise $100M by July 15, 2024
Fourth Extension Agreement extends maturity of $601.3M portfolio loan facility to August 6, 2024.
KBS REIT III extends $601M portfolio loan to Feb 6, 2024; defaults on $125M Spear Street loan
Third extension agreement extended $601.3M portfolio loan to Feb 6, 2024; $5M paydown made, Excess Cash Flow swept.
KBS REIT III to release investor presentation with updated estimated value per share
Presentation, available by Dec 20, 2023, discusses portfolio and estimated value per share.
KBS REIT III estimates value per share at $5.60, down 38% from $9.00
Estimated value per share $5.60 as of Dec 12, 2023, a 38% decrease from $9.00 on Sep 28, 2022.
KBS REIT III extends Accenture Tower loan maturity to Nov 2024; capacity cut to $306M
Exercised first 12-month extension on $375M Accenture Tower Revolving Loan; new maturity Nov 2, 2024.
Company unable to exercise one-year extension option; obtained two short extensions to Dec 22, 2023.
KBS REIT III extends two loan facilities by weeks; $1.7B total maturities in 12 months
Accenture Tower loan ($281.3M term + $93.7M revolver) maturity extended from Nov 2 to Dec 4, 2023; revolver advances suspended.
KBS REIT III renews advisory agreement with KBS Capital Advisors through Sept 2024
Renewed advisory agreement effective through September 27, 2024; renewable annually by mutual consent.
Director Jeffrey A. Dritley resigns from board, effective Dec 31, 2023
Jeffrey A. Dritley notified his resignation as a director on September 14, 2023.
KBS REIT III files Form 8-K for July 25 investor webinar; presentation lacks specific financial data
Company will use attached presentation in a July 25, 2023 webinar for stockholders and financial representatives.
KBS REIT III annual meeting: all director nominees elected, E&Y ratified as auditor
Charles J. Schreiber Jr. and five other directors elected with votes for ranging from 37.6M to 37.7M.
KBS REIT III sets stockholder proposal deadline of April 26 for July 2023 annual meeting
Annual Meeting expected in July 2023; exact date in definitive proxy.
KBS REIT III elects six directors, ratifies Ernst & Young as auditor at annual meeting
All six director nominees elected: Charles J. Schreiber Jr., Marc DeLuca, Jeffrey A. Dritley, Stuart A. Gabriel, Robert Milkovich, Ron D. Sturzenegger.
CMG Partners offers $4.02/share for up to 450,000 shares (0.30% of outstanding); board unanimously recommends rejection.
KBS REIT III reduces distribution to $0.03833/sh and suspends ordinary share redemptions
Board authorized January and February 2023 distributions of $0.03833333 per share, reduced from prior periods due to economic slowdown.
KBS REIT III sets Dec 19, 2022 deadline for stockholder proposals for March 9, 2023 annual meeting
Annual meeting scheduled for March 9, 2023; more than 30 days from last anniversary.
KBS REIT III holds webinar to review portfolio and estimated value per share
Webinar held on Nov 18, 2022 to discuss portfolio holdings and estimated NAV per share.
Comrit offers $5.68/share for up to 1,232,394 shares (0.84% of outstanding); board unanimously recommends rejection.
KBS REIT III cancels all unmet 2022 ordinary redemptions, resumes Jan 2023
Oct distribution of $0.04983333/share declared, record Oct 21, payable Nov 2022.
KBS REIT III estimated NAV drops to $9.00 from $10.78, a 16.5% decline
Estimated value per share of $9.00 as of Sep 28, 2022, down $1.78 from prior $10.78.
KBS REIT III board recommends rejecting CMG mini-tender offer at $5.05/share, citing $10.78 NAV
Board unanimously recommends stockholders reject CMG mini-tender offer for up to 450,000 shares at $5.05/share.
KBS REIT III declares July 2022 distribution of $0.04983333 per share
Board authorized $0.04983333 per share distribution for July 2022.
KBS REIT III declares June distribution of $0.04983333 per share
Board authorized a June 2022 distribution of $0.04983333 per share.
KBS REIT III furnishes portfolio update presentation; no specific material facts available
Furnished May 26, 2022 presentation for a portfolio update webcast.
KBS REIT III increases 2022 redemption cap to 5% of weighted-average shares outstanding
Board approved amended share redemption program effective April 29, 2022, increasing 2022 redemption cap to 5% of 2021 weighted-average shares outstanding.
On September 14, 2023, Jeffrey A. Dritley notified KBS Real Estate Investment Trust III, Inc. (the “Company”) of his decision to resign as a member of the Company’s board of directors effective as of December 31, 2023.
Max materiality 0.90 · Median 0.68 · Most common event other_material