August 27, 2016 9:42 AM ET

Real Estate Investment Trusts (REITs)

Company Overview of KBS Real Estate Investment Trust III, Inc.

Company Overview

KBS Real Estate Investment Trust III, Inc. is a privately owned real estate investment trust. The firm invests on the behalf of large institutions, such as public and private pension plans, endowments, foundations and sovereign wealth funds. It invests in the real estate markets across United States. The firm invests in the office and industrial properties. office and industrial properties. KBS Real Estate Investment Trust III, Inc. was formed on December 22, 2009 and is based in Newport Beach, California.

620 Newport Center Drive

Suite 1300

Newport Beach, CA 92660

United States

Key Executives for KBS Real Estate Investment Trust III, Inc.

Chairman of the Board, Chief Executive Officer, and Director
Age: 64
Executive Vice President, Treasurer, Secretary, and Director
Age: 58
Compensation as of Fiscal Year 2016.

KBS Real Estate Investment Trust III, Inc. Key Developments

KBS Real Estate Investment Trust III, Inc., Annual General Meeting, Jul 07, 2016

KBS Real Estate Investment Trust III, Inc., Annual General Meeting, Jul 07, 2016, at 11:00 Pacific Standard Time. Location: KBS, 800 Newport Center Drive, First Floor Suite 140 Conference Center Newport Beach, CA 92660 United States Agenda: To elect five directors to hold office for one-year terms expiring in 2017; to ratify the appointment of Ernst & Young LLP as independent registered public accounting firm for the year ending December 31, 2016; and to attend to such other business as may properly come before the annual meeting and any adjournment or postponement thereof.

KBS Real Estate Investment Trust III, Inc.'s Subsidiary Enters into a Modified Loan Agreement

On September 17, 2015, KBS Real Estate Investment Trust III, Inc., through indirect wholly owned subsidiaries (the Borrowers), entered into a modified loan agreement to increase the committed amount of an existing portfolio loan (the Portfolio Loan") to $255.0 million, subject to certain conditions contained in the loan agreement. The Portfolio Loan is composed of $127.5 million of term debt and $127.5 million of revolving debt. At closing, $127.5 million of the term debt and $7.5 million of the revolving debt was outstanding. The availability of the revolving debt is subject to certain conditions contained in the loan documents. The initial maturity date of the Portfolio Loan is June 1, 2019, with a one-year extension option, subject to certain conditions contained in the loan agreement. The Portfolio Loan bears interest at a floating rate of 190 basis points over one-month LIBOR and monthly payments are interest only with the entire balance due at maturity, assuming no prior prepayment. The company has the right to prepay all or a portion of the Portfolio Loan, subject to certain fees and conditions contained in the loan agreement. During the term of the Portfolio Loan, the company has an option, which may be exercised up to two times, to increase the loan amount to a maximum of $350.0 million, of which 50% would be term debt and 50% would be revolving debt, with the addition of one or more properties to secure the Portfolio Loan, subject to certain conditions contained in the loan documents.

KBS Real Estate Investment Trust III, Inc. Enters into a Purchase Agreement to Acquire an Office Property

On September 2, 2015, KBS Real Estate Investment Trust III, Inc., through an indirect wholly owned subsidiary, entered into a purchase agreement to acquire an office property consisting of three office buildings containing an aggregate of 416,127 rentable square feet located on approximately 5.8 acres of land in San Jose, California (The Almaden). The seller is not affiliated with the company or its advisor. The contractual purchase price of The Almaden is approximately $150.0 million plus closing costs.

Similar Private Companies By Industry

Company Name Region
Accredited Mortgage Loan REIT Trust United States
AEGIS Investment Trust United States
Alanar Real Estate Investment Trust Series 1 Corp. United States
American Realty Capital Hospitality Trust, Inc. United States
Arden Realty LP United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 15, 2015
1.8 Acres of Land in Charlotte
Merger/Acquisition
November 9, 2015
3001 Washington Boulevard in Arlington
Merger/Acquisition
September 4, 2015
The Almaden
 

The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content. For inquiries, please contact Capital IQ directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
The Advertising Council, Inc. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact KBS Real Estate Investment Trust III, Inc., please visit kbs-cmg.com/offerings/kbs-real-estate-investment-trust-iii/. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.