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KBS Real Estate Investment Trust III, Inc.

KBS Capital Advisors · Non-Traded Office REIT (post-offering)

Program Overview

Non-Traded Office REIT (post-offering)
KBS Real Estate Investment Trust III, Inc.
Peer Group Filters
Objectives
IncomeCapital AppreciationCapital PreservationTax AdvantagedDiversificationTotal Return
Asset Class
Real Estate
Vehicle
REIT
Single / Multi Asset
Multi-Asset
Sponsor/Manager
Asset Class
Real Estate
Issuer
KBS Real Estate Investment Trust III, Inc.
Issuer Legal Structure
Maryland Corporation
Program Life Structure
Indefinite
Target Leverage
Target 45–65% debt-to-total-assets All figures are total liabilities to COST of tangible assets before depreciation (charter: 300% of net assets); cap can be exceeded with conflicts committee approval. 54% cost / 56% book at 12/31/2025; ~84% of book total assets at 6/30/2026. Parent guaranties and pledged subsidiary equity.
Strategy Risk/Return Profile
Core Plus
Managing Broker-Dealer
Scale
~5,400,000 sq ft Rentable square feet · 11 properties Office properties
Raised To Date
$2,400,000
Strategy Overview

Non-traded REIT that raised $2.2 billion (2010–2015) to buy U.S. core and value-creating core office properties, earning rental income and seeking appreciation through leasing and timed sales. Now closed to new capital and 100% office: 11 properties (~5.4M sq ft, 77% occupied at 6/30/2026) plus a 16.5% stake in affiliated Singapore-listed Prime US REIT. Current objective is to manage a going-concern debt wall - about $1.25B of secured, cross-defaulted loans largely maturing by early 2027 - through extensions, paydowns and lender-required asset sales. No distributions since June 2023; no redemption program since March 2024.

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