KBS Real Estate Investment Trust III, Inc. (KBSR) Form 10-Q — May 14, 2026
KBS Real Estate Investment Trust III reported a net loss of $12.0 million for the quarter ended March 31, 2026, driven by a $10.6 million impairment charge on an office property and $25.0 million in interest expense. The company sold Gateway Tech Center for net proceeds of $48.1 million, recognizing a $22.8 million gain, but used the majority of these proceeds to pay down $47.5 million of debt under its Modified Portfolio Revolving Loan Facility. The filing includes explicit going-concern language, stating that management’s plans do not alleviate substantial doubt about the company’s ability to continue as a going concern for at least a year.
Key figures
- Revenue
- 58389000
- Total Debt
- 1237067000
- Cash Position
- 43092000
- Gain on sale
- 22754000
- Impairment charge
- 10639000
- Shares outstanding
- 148516246
- Debt maturities 12mo
- 1200000000
- Sreit ownership percent
- 16.5
- Sreit investment fair value
- 40600000
- Weighted avg debt term years
- 0.5
AI analysis
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