KBS Real Estate Investment Trust III, Inc.
KBSR
Other OTC0.90
USD
+0.34
- -
KBS Real Estate Investment Trust III, Inc.
KBSR
(Other OTC)
Recent
price
0.90
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Similar Companies
- Business
- KBS Real Estate Investment Trust III, Inc., originally established on December 22, 2009, as a Maryland corporation, opted for taxation as a real estate investment trust, or REIT, commencing with the taxable year ending December 31, 2011, a structure it continues to maintain. The majority of the company's operational activities are conducted through KBS Limited Partnership III, a Delaware limited partnership. The company serves as the sole general partner of this operating partnership, holding a 0.1% interest. The remaining 99.9% limited partnership interest is held by KBS REIT Holdings III LLC, which is also managed solely by the company. The company manages a diversified portfolio of real estate assets, primarily focusing on core office properties situated across various regions within the United States. As of December 31, 2024, the portfolio comprised 13 office properties and one mixed-use office and retail property. Additionally, it retains an investment in the equity securities of a Singapore real estate investment trust, which is accounted for using the equity method. In response to evolving market conditions, particularly within the office sector, the company has actively engaged in strategic initiatives, including managing debt obligations and property dispositions. It ceased declaring distributions in June 2023 and has terminated its dividend reinvestment plan and share redemption program as of March 2024, anticipating no further distributions until specific loan obligations are settled or refinanced. The company has acknowledged challenges related to its debt maturities and the broader commercial real estate environment, providing regular updates on its portfolio valuation to stakeholders.