KBSR on OTC
KBS Real Estate Investment Trust III, Inc.
American real estate investment trust, incorporated in Maryland. Summary from the record
Price unavailable
Last updated Oct 19, 2026.
Overview
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- TickerKBSR on OTC1
- IndustryReal Estate Investment Trusts1
- HeadquartersNewport Beach, California1
- Incorporated inMD2
- Business address800 Newport Center Drive, Suite 700, Newport Beach, Ca 926602
- Filer categoryNon-accelerated filer2
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KBS Real Estate Investment Trust III, Inc. (the “Company”) is a Maryland corporation that has elected to be taxed as a real estate investment trust (“REIT”) and it intends to continue to operate in such a manner. As used herein, the terms “we,” “our” and “us” refer to the Company and as required by context, KBS Limited Partnership III, a Delaware limited partnership, which we refer to as our “Operating Partnership,” and to their subsidiaries. We conduct our business primarily through our Operating Partnership, of which we are the sole general partner.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Interest100¢$114.3M
Out of $16.6M in revenue.4 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Rental income | $232.2M | $258.5M | $270.2M |
| Dividend income from real estate equity securities | $1.1M | $967.0K | $11.8M |
| Other operating income | $16.6M | $18.2M | $18.7M |
| Total revenues | $250.0M | $277.7M | $300.7M |
| Operating, maintenance and management | $68.9M | $72.9M | $75.9M |
| Real estate taxes and insurance | $42.7M | $50.0M | $52.8M |
| Asset management fees to affiliate | $18.0M | $19.6M | $20.8M |
| General and administrative expenses | $7.5M | $18.5M | $7.3M |
| Depreciation and amortization | $95.9M | $111.2M | $115.2M |
| Interest expense | $114.3M | $126.6M | $120.5M |
| Net loss (gain) on derivative instruments | $126.0K | -$17.6M | -$14.9M |
| Impairment charges on real estate | $65.5M | $6.8M | $45.5M |
| Total expenses | $412.9M | $388.0M | $423.1M |
| Unrealized gain (loss) on real estate equity securities | $6.2M | -$11.2M | -$35.6M |
| Gain from extinguishment of debt | $0 | $56.4M | $0 |
| Gain on sale of real estate, net | $77.4M | $53.1M | $0 |
| Other interest income | $569.0K | $1.2M | $505.0K |
| Total other income (loss), net | $84.1M | $99.5M | -$35.1M |
| Net loss | -$78.8M | -$10.9M | -$157.5M |
| Net loss per common share, basic (in dollars per share) | -$0.53 | -$0.07 | -$1.06 |
| Net loss per common share, diluted (in dollars per share) | -$0.53 | -$0.07 | -$1.06 |
| Weighted-average number of common shares outstanding, basic (in shares) | 148.5M shares | 148.5M shares | 148.7M shares |
| Weighted-average number of common shares outstanding, diluted (in shares) | 148.5M shares | 148.5M shares | 148.7M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 2 fiscal years (annual) or 2 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Land | $197.9M | $211.2M |
| Buildings and improvements | $1.6B | $1.8B |
| Tenant origination and absorption costs | $22.3M | $24.4M |
| Total real estate held for investment, cost | $1.9B | $2.1B |
| Less accumulated depreciation and amortization | -$559.3M | -$627.9M |
| Total real estate held for investment, net | $1.3B | $1.4B |
| Real estate held for sale, net | $0 | $131.5M |
| Total real estate, net | $1.3B | $1.6B |
| Real estate equity securities | $46.8M | $40.6M |
| Total real estate and real estate-related investments, net | $1.3B | $1.6B |
| Cash and cash equivalents | $23.7M | $30.5M |
| Restricted cash | $38.6M | $11.1M |
| Rents and other receivables, net | $96.2M | $94.5M |
| Above-market leases, net | $52.0K | $120.0K |
| Assets related to real estate held for sale, net | $0 | $15.2M |
| Prepaid expenses and other assets | $55.7M | $67.9M |
| Total assets | $1.6B | $1.8B |
| Notes payable, net | $1.3B | $1.3B |
| Notes payable related to real estate held for sale, net | $0 | $152.4M |
| Total notes payable, net | $1.3B | $1.4B |
| Accounts payable and accrued liabilities | $31.2M | $46.9M |
| Due to affiliate | $19.8M | $19.5M |
| Below-market leases, net | $230.0K | $544.0K |
| Liabilities related to real estate held for sale, net | $0 | $3.0M |
| Other liabilities | $51.4M | $54.3M |
| Total liabilities | $1.4B | $1.6B |
| Redeemable common stock | $0 | $0 |
| Preferred stock, $.01 par value per share; 10,000,000 shares authorized, no shares issued and outstanding | $0 | $0 |
| Common stock, $.01 par value per share; 1,000,000,000 shares authorized, 148,516,246 and 148,516,246 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $1.5M | $1.5M |
| Additional paid-in capital | $1.3B | $1.3B |
| Cumulative distributions in excess of net income | -$1.1B | -$1.1B |
| Total stockholders equity | $177.8M | $256.6M |
| Total liabilities and equity | $1.6B | $1.8B |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 |
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 |
| Common stock, shares authorized (in shares) | 1.0B shares | 1.0B shares |
| Common stock, shares issued (in shares) | 148.5M shares | 148.5M shares |
| Common stock, shares outstanding (in shares) | 148.5M shares | 148.5M shares |
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Land | $197.9M | $211.2M |
| Buildings and improvements | $1.6B | $1.8B |
| Tenant origination and absorption costs | $22.3M | $24.4M |
| Total real estate held for investment, cost | $1.9B | $2.1B |
| Less accumulated depreciation and amortization | -$559.3M | -$627.9M |
| Total real estate held for investment, net | $1.3B | $1.4B |
| Real estate held for sale, net | $0 | $131.5M |
| Total real estate, net | $1.3B | $1.6B |
| Real estate equity securities | $46.8M | $40.6M |
| Total real estate and real estate-related investments, net | $1.3B | $1.6B |
| Cash and cash equivalents | $23.7M | $30.5M |
| Restricted cash | $38.6M | $11.1M |
| Rents and other receivables, net | $96.2M | $94.5M |
| Above-market leases, net | $52.0K | $120.0K |
| Assets related to real estate held for sale, net | $0 | $15.2M |
| Prepaid expenses and other assets | $55.7M | $67.9M |
| Total assets | $1.6B | $1.8B |
| Notes payable, net | $1.3B | $1.3B |
| Notes payable related to real estate held for sale, net | $0 | $152.4M |
| Total notes payable, net | $1.3B | $1.4B |
| Accounts payable and accrued liabilities | $31.2M | $46.9M |
| Due to affiliate | $19.8M | $19.5M |
| Below-market leases, net | $230.0K | $544.0K |
| Liabilities related to real estate held for sale, net | $0 | $3.0M |
| Other liabilities | $51.4M | $54.3M |
| Total liabilities | $1.4B | $1.6B |
| Redeemable common stock | $0 | $0 |
| Preferred stock, $.01 par value per share; 10,000,000 shares authorized, no shares issued and outstanding | $0 | $0 |
| Common stock, $.01 par value per share; 1,000,000,000 shares authorized, 148,516,246 and 148,516,246 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $1.5M | $1.5M |
| Additional paid-in capital | $1.3B | $1.3B |
| Cumulative distributions in excess of net income | -$1.1B | -$1.1B |
| Total stockholders equity | $177.8M | $256.6M |
| Total liabilities and equity | $1.6B | $1.8B |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 |
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 |
| Common stock, shares authorized (in shares) | 1.0B shares | 1.0B shares |
| Common stock, shares issued (in shares) | 148.5M shares | 148.5M shares |
| Common stock, shares outstanding (in shares) | 148.5M shares | 148.5M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$78.8M | -$10.9M | -$157.5M |
| Depreciation and amortization | $95.9M | $111.2M | $115.2M |
| Impairment charges on real estate | $65.5M | $6.8M | $45.5M |
| Equity in income of unconsolidated entity | -$6.2M | $11.2M | $35.6M |
| Deferred rents | -$6.1M | -$8.6M | -$7.6M |
| Amortization of above- and below-market leases, net | -$246.0K | -$456.0K | -$769.0K |
| Amortization of deferred financing costs | $12.4M | $9.5M | $4.2M |
| Unrealized losses on derivative instruments | $10.2M | $6.8M | $16.5M |
| Gain related to swap terminations | $0 | -$178.0K | $0 |
| Interest rate swap settlement for early terminated swaps | $0 | $6.6M | $0 |
| Gain from extinguishment of debt | $0 | -$56.4M | $0 |
| Gain on sale of real estate | -$77.4M | -$53.1M | $0 |
| Interest rate swap settlements for off-market swap instruments | $0 | $0 | -$9.1M |
| Rents and other receivables | -$317.0K | -$7.3M | -$3.1M |
| Due from affiliates | $0 | $0 | $10.0K |
| Prepaid expenses and other assets | -$9.0M | -$12.8M | -$14.4M |
| Accounts payable and accrued liabilities | -$15.1M | $3.3M | -$1.3M |
| Due to affiliates | $2.8M | $1.6M | $7.0M |
| Other liabilities | $297.0K | $164.0K | $11.6M |
| Net cash (used in) provided by operating activities | -$6.1M | $7.7M | $41.6M |
| Improvements to real estate | -$24.8M | -$34.5M | -$81.2M |
| Proceeds from sale of real estate, net | $220.1M | $192.4M | $0 |
| Purchase of interest rate cap | $0 | $0 | -$25.0K |
| Net cash provided by (used in) investing activities | $195.3M | $157.9M | -$81.2M |
| Proceeds from notes payable | $31.1M | $35.9M | $77.2M |
| Principal payments on notes payable | -$188.7M | -$198.5M | -$10.0M |
| Payments of deferred financing costs | -$11.0M | -$10.5M | -$2.9M |
| Interest rate swap settlements for off-market swap instruments | $0 | $0 | $9.9M |
| Restricted cash surrendered from deed-in-lieu of foreclosure | $0 | -$1.9M | $0 |
| Payments to redeem common stock | $0 | $0 | -$12.1M |
| Payments of other offering costs | $0 | -$2.0K | -$28.0K |
| Distributions paid to common stockholders | $0 | $0 | -$25.3M |
| Net cash (used in) provided by financing activities | -$168.6M | -$174.9M | $36.7M |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $20.6M | -$9.3M | -$2.9M |
| Interest paid | $98.9M | $92.5M | $93.7M |
| Mortgage loan extinguished in connection with deed-in-lieu of foreclosure | $0 | $125.0M | $0 |
| Real estate transferred in connection with deed-in-lieu of foreclosure | $0 | $69.0M | $0 |
| Net liabilities transferred in connection with deed-in-lieu of foreclosure | $0 | $2.3M | $0 |
| Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan | $0 | $0 | $16.2M |
| Accrued improvements to real estate | $3.1M | $6.9M | $14.2M |
| Accrued deferred loan financing costs | $8.5M | $5.3M | $0 |
| Accrued disposition fees | $0 | $500.0K | $0 |
No quarter-by-quarter statement was filed.
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Leadership
Who has led KBS Real Estate Investment Trust III, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
201520202025
- Chief executive officerCharles J. Schreiber Jr. Apr 30, 2012 to Apr 30, 201214
- PresidentPeter M. Bren Apr 30, 2012 to Apr 30, 201215
- Chief financial officerJeff Waldvogel Jun 17, 2015 to Jun 17, 201516
- Chief financial officerDavid E. Snyder Apr 30, 2012 to Apr 30, 201217
Board members and other officers (12)
- Executive Vice PresidentKeith D. Hall Apr 30, 2012 to Apr 30, 201218
- Executive Vice PresidentPeter McMillan Apr 30, 2012 to Apr 30, 201219
- Chief Accounting OfficerStacie K. Yamane Apr 30, 2012 to Apr 30, 201220
- Board memberMarc Deluca Nov 16, 2022 to Nov 16, 202221
- Board memberRobert Milkovich Nov 16, 2022 to Nov 16, 202222
- Board memberRon D. Sturzenegger Sep 5, 2019 to Sep 5, 201923
- Board memberJeffrey A. Dritley Nov 6, 2017 to Nov 6, 201724
- Board memberBarbara R. Cambon Apr 30, 2012 to Apr 30, 201225
- Board memberCharles J. Schreiber Jr. Apr 30, 2012 to Apr 30, 201214
- Board memberHank Adler Apr 30, 2012 to Apr 30, 201226
- Board memberPeter McMillan Apr 30, 2012 to Apr 30, 201219
- Board memberStuart A. Gabriel Apr 30, 2012 to Apr 30, 201227
Timeline
- Apr 30, 2012New chief executive Charles J. Schreiber Jr. becomes CEO14
Filings
91 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 59 major events, 2 insider forms, 10 other. The latest 20:
- Oct 1, 20268-K EDGAR
- Sep 22, 2026DEFA14A EDGAR
- Sep 22, 2026DEF 14A EDGAR
- Aug 13, 202610-Q EDGAR
- May 14, 202610-Q EDGAR
- Apr 8, 20268-K EDGAR
- Mar 27, 202610-K EDGAR
- Feb 2, 20268-K EDGAR
- Jan 30, 20268-K EDGAR
- Dec 19, 20258-K EDGAR
- Nov 14, 202510-Q EDGAR
- Sep 29, 20258-K EDGAR
- Sep 29, 20258-K EDGAR
- Aug 14, 202510-Q EDGAR
- Jul 24, 20258-K EDGAR
- May 12, 202510-Q EDGAR
- May 8, 20258-K EDGAR
- Apr 28, 2025DEFA14A EDGAR
- Apr 28, 2025DEF 14A EDGAR
- Mar 14, 202510-K EDGAR
The 91 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Old National Bancorp /in/ | 19,506 | $75.9K | 0.0% | No change |
| Financial Gravity Companies, Inc. | 16,734 | $45.2K | 0.0% | New |
| Kingswood Wealth Advisors, LLC | 14,102 | $38.1K | 0.0% | New |
| Westside Investment Management, Inc. | 3,969 | $10.7K | 0.0% | New |
| Gleason Group, Inc. | 1,635 | $4.4K | 0.0% | New |
| Capital Advisor Network LLC | 720 | $1.9K | 0.0% | New |
| Main Street Group, LTD | 521 | $1.4K | 0.0% | No change |
| Hantz Financial Services, Inc. | 6,266 | $17 | 0.0% | No change |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 15SEC EDGARPeter M. Bren, President
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- 21SEC EDGARMarc Deluca, Board member
- 22SEC EDGARRobert Milkovich, Board member
- 23SEC EDGARRon D. Sturzenegger, Board member
- 24SEC EDGARJeffrey A. Dritley, Board member
- 25SEC EDGARBarbara R. Cambon, Board member
- 26SEC EDGARHank Adler, Board member
- 27SEC EDGARStuart A. Gabriel, Board member