$KBSR
KBS Real Estate Investment Trust III, Inc.

2019 Q4 Form 10-Q Financial Statement

#000148243019000062 Filed on November 13, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $76.40M $82.98M $106.1M
YoY Change -29.49% -21.82% 3.5%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.86M $40.82M
YoY Change -26.85% -0.79%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $20.40M $16.60M
YoY Change 22.89% 7.37%
% of Operating Profit
Other Income/Expense, Net $327.1M
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$880.0K $316.9M -$4.070M
YoY Change -96.74% -7885.85% 29.17%
Net Earnings / Revenue -1.15% 381.88% -3.83%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 173.0M shares 175.7M shares 176.1M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $43.98M $58.84M $78.19M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $253.4M $252.3M $34.66M
YoY Change 627.77%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $2.639B $2.639B $3.237B
YoY Change -20.05% -18.47% 1.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $1.602B $1.546B $2.217B
YoY Change -31.7% -30.27% 9.02%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.810M $1.724M $1.764M
YoY Change 1.97% -2.27% -2.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $985.1M $1.062B $979.6M
YoY Change
Total Liabilities & Shareholders Equity $2.639B $2.639B $3.237B
YoY Change -20.05% -18.47% 1.38%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$880.0K $316.9M -$4.070M
YoY Change -96.74% -7885.85% 29.17%
Depreciation, Depletion And Amortization $29.86M $40.82M
YoY Change -26.85% -0.79%
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001482430
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
1905
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
000-54687
dei Entity Registrant Name
EntityRegistrantName
KBS REAL ESTATE INVESTMENT TRUST III, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
MD
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
27-1627696
dei Entity Address Address Line1
EntityAddressAddressLine1
800 Newport Center Drive, Suite 700
dei Entity Address City Or Town
EntityAddressCityOrTown
Newport Beach,
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
92660
dei City Area Code
CityAreaCode
949
dei Local Phone Number
LocalPhoneNumber
417-6500
dei Entity Current Reporting Status
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dei Entity Interactive Data Current
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262067000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
30199000 USD
CY2019Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-7000 USD
CY2018Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
0 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-24000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
0 USD
CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
316884000 USD
CY2018Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4155000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
262091000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
30199000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
814104000 USD
CY2019Q3 us-gaap Profit Loss
ProfitLoss
316877000 USD
CY2019Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
12748000 USD
CY2019Q3 kbsriii Adjustments To Additional Paid In Capital Transfers To Redeemable Common Stock
AdjustmentsToAdditionalPaidInCapitalTransfersToRedeemableCommonStock
10864000 USD
CY2019Q3 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
42122000 USD
CY2019Q3 us-gaap Dividends Common Stock
DividendsCommonStock
28358000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1062385000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1012898000 USD
CY2018Q3 us-gaap Profit Loss
ProfitLoss
-4070000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-85000 USD
CY2018Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
13942000 USD
CY2018Q3 kbsriii Adjustments To Additional Paid In Capital Transfers To Redeemable Common Stock
AdjustmentsToAdditionalPaidInCapitalTransfersToRedeemableCommonStock
12744000 USD
CY2018Q3 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
1198000 USD
CY2018Q3 us-gaap Dividends Common Stock
DividendsCommonStock
28843000 USD
CY2018Q3 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
2000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
979898000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
930895000 USD
us-gaap Profit Loss
ProfitLoss
262067000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
39219000 USD
kbsriii Adjustments To Additional Paid In Capital Transfers From Redeemable Common Stock
AdjustmentsToAdditionalPaidInCapitalTransfersFromRedeemableCommonStock
13164000 USD
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
97672000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
85285000 USD
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
3000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1062385000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1079408000 USD
us-gaap Profit Loss
ProfitLoss
30309000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-110000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
42443000 USD
kbsriii Adjustments To Additional Paid In Capital Transfers From Redeemable Common Stock
AdjustmentsToAdditionalPaidInCapitalTransfersFromRedeemableCommonStock
8813000 USD
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
94569000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
86394000 USD
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
2000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
979898000 USD
us-gaap Profit Loss
ProfitLoss
262067000 USD
us-gaap Profit Loss
ProfitLoss
30309000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
112902000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
118831000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
8706000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
kbsriii Equity In Income Loss Of Unconsolidated Joint Venture
EquityInIncomeLossOfUnconsolidatedJointVenture
-2556000 USD
kbsriii Equity In Income Loss Of Unconsolidated Joint Venture
EquityInIncomeLossOfUnconsolidatedJointVenture
25000 USD
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
4245000 USD
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
6932000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
768000 USD
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-2832000 USD
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-4360000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4346000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4693000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2229000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-41706000 USD
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
30102000 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
327311000 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
11942000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2206000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
10983000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
33140000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
19295000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2688000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
10534000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-11124000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-5023000 USD
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
-2808000 USD
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
0 USD
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
225000 USD
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
2535000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
48383000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
79008000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
57738000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
70754000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
931589000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
41649000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
16186000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
0 USD
us-gaap Payments For Construction In Process
PaymentsForConstructionInProcess
19818000 USD
us-gaap Payments For Construction In Process
PaymentsForConstructionInProcess
24979000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
426000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
1014000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
0 USD
kbsriii Escrow Deposits Relatedto Tenant Improvements1
EscrowDepositsRelatedtoTenantImprovements1
972000 USD
kbsriii Escrow Deposits Relatedto Tenant Improvements1
EscrowDepositsRelatedtoTenantImprovements1
1111000 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
867000 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
4629000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
871044000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-48770000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
322590000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
162035000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1107218000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
40327000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2508000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
166000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
97672000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
94569000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
3000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
46525000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
44509000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-931336000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-17538000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-11909000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
12700000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
76038000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
65486000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
64129000 USD
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
78186000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1711000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
2452000 USD
us-gaap Interest Paid Net
InterestPaidNet
62199000 USD
us-gaap Interest Paid Net
InterestPaidNet
54623000 USD
kbsriii Non Cash Shares Received In Connection With Transaction
NonCashSharesReceivedInConnectionWithTransaction
271000000 USD
kbsriii Non Cash Shares Received In Connection With Transaction
NonCashSharesReceivedInConnectionWithTransaction
0 USD
kbsriii Noncashincreasesdecreaseindistributionspayable
Noncashincreasesdecreaseindistributionspayable
9343000 USD
kbsriii Noncashincreasesdecreaseindistributionspayable
Noncashincreasesdecreaseindistributionspayable
9424000 USD
kbsriii Noncash Increaseinredeemablecommonstock
NoncashIncreaseinredeemablecommonstock
11658000 USD
kbsriii Noncash Increaseinredeemablecommonstock
NoncashIncreaseinredeemablecommonstock
10353000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
23553000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
20053000 USD
kbsriii Increasein Construction In Progress Payable
IncreaseinConstructionInProgressPayable
5011000 USD
kbsriii Increasein Construction In Progress Payable
IncreaseinConstructionInProgressPayable
6888000 USD
kbsriii Increaseinconstructioninprogressduetoaffiliate
Increaseinconstructioninprogressduetoaffiliate
1091000 USD
kbsriii Increaseinconstructioninprogressduetoaffiliate
Increaseinconstructioninprogressduetoaffiliate
869000 USD
kbsriii Increase In Acquisition Fees Due To Affiliate
IncreaseInAcquisitionFeesDueToAffiliate
0 USD
kbsriii Increase In Acquisition Fees Due To Affiliate
IncreaseInAcquisitionFeesDueToAffiliate
484000 USD
kbsriii Distributions Paid To Common Stockholders Through Common Stock Issuances Pursuant To Dividend Reinvestment Plan
DistributionsPaidToCommonStockholdersThroughCommonStockIssuancesPursuantToDividendReinvestmentPlan
39219000 USD
kbsriii Distributions Paid To Common Stockholders Through Common Stock Issuances Pursuant To Dividend Reinvestment Plan
DistributionsPaidToCommonStockholdersThroughCommonStockIssuancesPursuantToDividendReinvestmentPlan
42443000 USD
us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
0.001
us-gaap Limited Liability Company Llc Or Limited Partnership Lp Members Or Limited Partners Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest
0.999
us-gaap Use Of Estimates
UseOfEstimates
The preparation of the consolidated financial statements and condensed notes thereto in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and condensed notes. Actual results could materially differ from those estimates.
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="text-indent:22.5pt;margin-bottom:6pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of prior periods. Upon adoption of the lease accounting standards of Topic 842 on January 1, 2019 (described below), the Company accounted for tenant reimbursements for property taxes, insurance and common area maintenance as variable lease payments and recorded these amounts as rental income on the statement of operations. For the three and nine months ended September 30, 2018, the Company reclassified $17.8 million and $54.9 million, respectively, of tenant reimbursement revenue for property taxes, insurance, and common area maintenance to rental income for comparability purposes. </span></div><div style="text-indent:22.5pt;margin-bottom:6pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">In addition, during the nine months ended September 30, 2019, the Company sold 11 office properties. As a result, certain assets and liabilities related to these 11 office properties were reclassified to held for sale on the consolidated balance sheets for all periods presented.</span></div>
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2018Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.164
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.486
kbsriii Common Share Distribution Rate Per Share Per Dayon Annual Basis Declared
CommonShareDistributionRatePerSharePerDayonAnnualBasisDeclared
0.00178082
CY2019Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.1625
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.4875
kbsriii Common Share Distribution Rate Per Share Per Dayon Annual Basis Declared
CommonShareDistributionRatePerSharePerDayonAnnualBasisDeclared
0.05416667
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2019Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
7800000 sqft
CY2019Q3 kbsriii Percentage Of Real Estate Portfolio Occupied
PercentageOfRealEstatePortfolioOccupied
0.86
CY2019Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2589254000 USD
CY2019Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
420330000 USD
us-gaap Interest Expense
InterestExpense
29900000 USD
CY2019Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2168924000 USD
kbsriii Lease Weighted Average Remaining Lease Term
LeaseWeightedAverageRemainingLeaseTerm
P4Y4M24D
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
4200000 USD
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
6900000 USD
CY2019Q3 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
67900000 USD
CY2018Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
62700000 USD
CY2019Q3 us-gaap Incentive To Lessee
IncentiveToLessee
11500000 USD
CY2018Q4 us-gaap Incentive To Lessee
IncentiveToLessee
11100000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsReceivableRemainderOfFiscalYear
52069000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
215882000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
204882000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
180512000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
153812000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
676850000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
1484007000 USD
CY2019Q3 kbsriii Number Of Tenants
NumberOfTenants
650 tenant
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
8700000 USD
CY2019Q3 kbsriii Tenant Origination And Absorption Costs Gross
TenantOriginationAndAbsorptionCostsGross
98089000 USD
CY2018Q4 kbsriii Tenant Origination And Absorption Costs Gross
TenantOriginationAndAbsorptionCostsGross
131969000 USD
CY2019Q3 kbsriii Above Market Leases Gross
AboveMarketLeasesGross
2718000 USD
CY2018Q4 kbsriii Above Market Leases Gross
AboveMarketLeasesGross
3977000 USD
CY2019Q3 kbsriii Off Market Lease Unfavorable Gross
OffMarketLeaseUnfavorableGross
26181000 USD
CY2018Q4 kbsriii Off Market Lease Unfavorable Gross
OffMarketLeaseUnfavorableGross
31046000 USD
CY2019Q3 kbsriii Tenant Origination And Absorption Costs Accumulated Amortization
TenantOriginationAndAbsorptionCostsAccumulatedAmortization
56280000 USD
CY2018Q4 kbsriii Tenant Origination And Absorption Costs Accumulated Amortization
TenantOriginationAndAbsorptionCostsAccumulatedAmortization
77447000 USD
CY2019Q3 kbsriii Above Market Leases Accumulated Amortization
AboveMarketLeasesAccumulatedAmortization
2062000 USD
CY2018Q4 kbsriii Above Market Leases Accumulated Amortization
AboveMarketLeasesAccumulatedAmortization
2963000 USD
CY2019Q3 kbsriii Off Market Lease Unfavorable Accumulated Amortization
OffMarketLeaseUnfavorableAccumulatedAmortization
15559000 USD
CY2018Q4 kbsriii Off Market Lease Unfavorable Accumulated Amortization
OffMarketLeaseUnfavorableAccumulatedAmortization
17386000 USD
CY2019Q3 kbsriii Tenant Origination And Absorption Costs Net
TenantOriginationAndAbsorptionCostsNet
41809000 USD
CY2018Q4 kbsriii Tenant Origination And Absorption Costs Net
TenantOriginationAndAbsorptionCostsNet
54522000 USD
CY2019Q3 kbsriii Above Market Leases Net
AboveMarketLeasesNet
656000 USD
CY2018Q4 kbsriii Above Market Leases Net
AboveMarketLeasesNet
1014000 USD
CY2019Q3 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
10622000 USD
CY2018Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
13660000 USD
CY2019Q3 kbsriii Tenant Origination And Absorption Costs Amortization Expense
TenantOriginationAndAbsorptionCostsAmortizationExpense
3766000 USD
CY2018Q3 kbsriii Tenant Origination And Absorption Costs Amortization Expense
TenantOriginationAndAbsorptionCostsAmortizationExpense
8184000 USD
CY2019Q3 kbsriii Above Market Leases Amortization Expense
AboveMarketLeasesAmortizationExpense
142000 USD
CY2018Q3 kbsriii Above Market Leases Amortization Expense
AboveMarketLeasesAmortizationExpense
430000 USD
CY2019Q3 kbsriii Off Market Lease Unfavorable Amortization Expense
OffMarketLeaseUnfavorableAmortizationExpense
874000 USD
CY2018Q3 kbsriii Off Market Lease Unfavorable Amortization Expense
OffMarketLeaseUnfavorableAmortizationExpense
2203000 USD
kbsriii Tenant Origination And Absorption Costs Amortization Expense
TenantOriginationAndAbsorptionCostsAmortizationExpense
18185000 USD
kbsriii Tenant Origination And Absorption Costs Amortization Expense
TenantOriginationAndAbsorptionCostsAmortizationExpense
24182000 USD
kbsriii Above Market Leases Amortization Expense
AboveMarketLeasesAmortizationExpense
866000 USD
kbsriii Above Market Leases Amortization Expense
AboveMarketLeasesAmortizationExpense
1325000 USD
kbsriii Off Market Lease Unfavorable Amortization Expense
OffMarketLeaseUnfavorableAmortizationExpense
3698000 USD
kbsriii Off Market Lease Unfavorable Amortization Expense
OffMarketLeaseUnfavorableAmortizationExpense
5685000 USD
CY2019Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1411527000 USD
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2196154000 USD
CY2019Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
7250000 USD
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
11616000 USD
CY2019Q3 us-gaap Long Term Debt
LongTermDebt
1404277000 USD
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
2184538000 USD
CY2019Q3 us-gaap Deferred Costs
DeferredCosts
7500000 USD
CY2018Q4 us-gaap Deferred Costs
DeferredCosts
11600000 USD
CY2019Q3 us-gaap Interest Expense
InterestExpense
20400000 USD
us-gaap Interest Expense
InterestExpense
105700000 USD
CY2018Q3 us-gaap Interest Expense
InterestExpense
16600000 USD
CY2019Q3 kbsriii Derivatives Increase Decrease Interest Expense
DerivativesIncreaseDecreaseInterestExpense
3300000 USD
kbsriii Derivatives Increase Decrease Interest Expense
DerivativesIncreaseDecreaseInterestExpense
38600000 USD
CY2018Q3 kbsriii Derivatives Increase Decrease Interest Expense
DerivativesIncreaseDecreaseInterestExpense
-5100000 USD
kbsriii Derivatives Increase Decrease Interest Expense
DerivativesIncreaseDecreaseInterestExpense
-29200000 USD
CY2019Q3 us-gaap Interest Payable Current
InterestPayableCurrent
4200000 USD
CY2018Q4 us-gaap Interest Payable Current
InterestPayableCurrent
6800000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
151000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
798018000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
141113000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
93000000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
379245000 USD
CY2019Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1411527000 USD
CY2019Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
0 USD
CY2018Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
5000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
0 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
88000 USD
CY2019Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
1411527000 USD
CY2018Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
2196154000 USD
CY2019Q3 us-gaap Payment For Administrative Fees
PaymentForAdministrativeFees
104000 USD
us-gaap Payment For Administrative Fees
PaymentForAdministrativeFees
252000 USD
CY2018Q3 us-gaap Payment For Administrative Fees
PaymentForAdministrativeFees
69000 USD
us-gaap Payment For Administrative Fees
PaymentForAdministrativeFees
243000 USD
CY2019Q3 kbsriii Non Compounded Returnon Net Invested Capital
NonCompoundedReturnonNetInvestedCapital
0.080
CY2019Q3 kbsriii Non Compounded Returnon Net Invested Capital
NonCompoundedReturnonNetInvestedCapital
0.08
CY2019Q3 kbsriii Non Compounded Returnon Net Invested Capital
NonCompoundedReturnonNetInvestedCapital
0.08

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