$KBSR
KBS Real Estate Investment Trust III, Inc. Stock $kbsr

$kbsr Overview Financials Valuation SEC Filings Company Website

2024 Q2 Form 10-Q Financial Statement

#000148243024000035 Filed on May 15, 2024

Income Statement

Concept	2024 Q2	2024 Q1
Revenue	$69.40M	$70.23M
YoY Change	3.84%	-12.42%
Cost Of Revenue	$34.69M	$35.30M
YoY Change	-4.18%	-5.76%
Gross Profit	$34.70M	$34.93M
YoY Change	13.32%	-18.26%
Gross Profit Margin	50.01%	49.74%
Selling, General & Admin	$2.372M	$5.491M
YoY Change	53.53%	245.13%
% of Gross Profit	6.83%	15.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$28.49M	$27.53M
YoY Change	-0.44%	-3.38%
% of Gross Profit	82.08%	78.83%
Operating Expenses	$30.86M	$33.03M
YoY Change	2.32%	9.76%
Operating Profit	$3.846M	$1.903M
YoY Change	723.55%	-84.95%
Interest Expense	$33.20M	$32.50M
YoY Change	13.31%	21.72%
% of Operating Profit	863.23%	1707.83%
Other Income/Expense, Net	-$4.159M	$51.97M
YoY Change	-82.43%	-383.92%
Pretax Income	-$28.62M	$37.57M
YoY Change	-35.04%	-156.57%
Income Tax
% Of Pretax Income
Net Earnings	-$28.62M	$37.57M
YoY Change	-35.04%	-156.57%
Net Earnings / Revenue	-41.24%	53.5%
Basic Earnings Per Share	-$0.19	$0.25
Diluted Earnings Per Share	-$0.19	$0.25
COMMON SHARES
Basic Shares Outstanding	148.5M shares	148.5M shares
Diluted Shares Outstanding	148.5M shares	148.5M shares

Balance Sheet

Concept	2024 Q2	2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$42.21M	$34.20M
YoY Change	75.77%	15.68%
Cash & Equivalents	$42.21M	$34.20M
Short-Term Investments
Other Short-Term Assets	$97.47M	$101.2M
YoY Change	-21.14%	-7.2%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$241.1M	$236.5M
YoY Change	-0.49%	-0.09%
LONG-TERM ASSETS
Property, Plant & Equipment	$1.705B	$1.725B
YoY Change	-8.18%	-8.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$27.78M	$32.29M
YoY Change	-38.71%	-53.25%
Other Assets	$11.38M	$13.66M
YoY Change	19.75%	76.79%
Total Long-Term Assets	$1.745B	$1.771B
YoY Change	-8.77%	-9.58%
TOTAL ASSETS
Total Short-Term Assets	$241.1M	$236.5M
Total Long-Term Assets	$1.745B	$1.771B
Total Assets	$1.986B	$2.008B
YoY Change	-7.84%	-8.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$39.38M	$43.95M
YoY Change	-6.17%	-14.32%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$58.22M	$62.66M
YoY Change	-5.31%	-9.16%
LONG-TERM LIABILITIES
Long-Term Debt	$1.589B	$1.573B
YoY Change	-7.08%	-6.48%
Other Long-Term Liabilities	$62.19M	$66.97M
YoY Change	-4.72%	-1.99%
Total Long-Term Liabilities	$1.651B	$1.640B
YoY Change	-7.0%	-6.31%
TOTAL LIABILITIES
Total Short-Term Liabilities	$58.22M	$62.66M
Total Long-Term Liabilities	$1.651B	$1.640B
Total Liabilities	$1.709B	$1.703B
YoY Change	-6.94%	-6.42%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock	$1.485M	$1.485M
YoY Change	-0.27%	0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$276.4M	$305.0M
YoY Change
Total Liabilities & Shareholders Equity	$1.986B	$2.008B
YoY Change	-7.84%	-8.55%

Cashflow Statement

Concept	2024 Q2	2024 Q1
OPERATING ACTIVITIES
Net Income	-$28.62M	$37.57M
YoY Change	-35.04%	-156.57%
Depreciation, Depletion And Amortization	$28.49M	$27.53M
YoY Change	-0.44%	-3.38%
Cash From Operating Activities	$5.791M	$1.877M
YoY Change	-11.04%	-63.85%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities	-$12.20M	$37.04M
YoY Change	-53.38%	-260.81%
Cash From Investing Activities	-$12.20M	$37.04M
YoY Change	-53.38%	-260.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	12.14M	-$41.98M
YoY Change	-23.55%	-3339.35%
NET CHANGE
Cash From Operating Activities	5.791M	$1.877M
Cash From Investing Activities	-12.20M	$37.04M
Cash From Financing Activities	12.14M	-$41.98M
Net Change In Cash	5.733M	-$3.063M
YoY Change	-251.99%	-81.49%
FREE CASH FLOW
Cash From Operating Activities	$5.791M	$1.877M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2024Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	4331000	usd
CY2023Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	4352000	usd
CY2024Q1	us-gaap	Revenues Revenues	70228000	usd
CY2023Q1	us-gaap	Revenues Revenues	80189000	usd
CY2024Q1	us-gaap	Derivative Asset Statement Of Financial Position Extensible Enumeration DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration	http://fasb.org/us-gaap/2023#PrepaidExpenseAndOtherAssets
CY2023Q4	us-gaap	Derivative Asset Statement Of Financial Position Extensible Enumeration DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration	http://fasb.org/us-gaap/2023#PrepaidExpenseAndOtherAssets
CY2023Q4	us-gaap	Derivative Liability Statement Of Financial Position Extensible Enumeration DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration	http://fasb.org/us-gaap/2023#OtherLiabilities
CY2024Q1	us-gaap	Derivative Liability Statement Of Financial Position Extensible Enumeration DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration	http://fasb.org/us-gaap/2023#OtherLiabilities
CY2024Q1	us-gaap	Derivative Asset Statement Of Financial Position Extensible Enumeration DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration	http://fasb.org/us-gaap/2023#PrepaidExpenseAndOtherAssets
CY2023Q4	us-gaap	Derivative Asset Statement Of Financial Position Extensible Enumeration DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration	http://fasb.org/us-gaap/2023#PrepaidExpenseAndOtherAssets
CY2024Q1	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2024Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2023Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	148516246	shares
CY2023Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	148516246	shares
CY2024Q1	us-gaap	Dividend Income Equity Securities Operating DividendIncomeEquitySecuritiesOperating	540000	usd
CY2023Q1	us-gaap	Dividend Income Equity Securities Operating DividendIncomeEquitySecuritiesOperating	6540000	usd
CY2024Q1	us-gaap	Cost Of Other Property Operating Expense CostOfOtherPropertyOperatingExpense	17403000	usd
CY2023Q1	us-gaap	Cost Of Other Property Operating Expense CostOfOtherPropertyOperatingExpense	17651000	usd
CY2024Q1	us-gaap	Real Estate Taxes And Insurance RealEstateTaxesAndInsurance	12954000	usd
CY2023Q1	us-gaap	Real Estate Taxes And Insurance RealEstateTaxesAndInsurance	14719000	usd
CY2024Q1	us-gaap	Affiliate Costs AffiliateCosts	4943000	usd
CY2023Q1	us-gaap	Affiliate Costs AffiliateCosts	5089000	usd
CY2024Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	5491000	usd
CY2023Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	1591000	usd
CY2024Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	27534000	usd
CY2023Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	28497000	usd
CY2024Q1	us-gaap	Interest Expense InterestExpense	32452000	usd
CY2023Q1	us-gaap	Interest Expense InterestExpense	26730000	usd
CY2024Q1	us-gaap	Derivative Gain Loss On Derivative Net DerivativeGainLossOnDerivativeNet	16152000	usd
CY2023Q1	us-gaap	Derivative Gain Loss On Derivative Net DerivativeGainLossOnDerivativeNet	-7038000	usd
CY2024Q1	us-gaap	Impairment Of Real Estate ImpairmentOfRealEstate	0	usd
CY2023Q1	us-gaap	Impairment Of Real Estate ImpairmentOfRealEstate	26988000	usd
CY2024Q1	us-gaap	Costs And Expenses CostsAndExpenses	84625000	usd
CY2023Q1	us-gaap	Costs And Expenses CostsAndExpenses	128303000	usd
CY2024Q1	us-gaap	Equity Securities Fv Ni Unrealized Gain Loss EquitySecuritiesFvNiUnrealizedGainLoss	-19512000	usd
CY2023Q1	us-gaap	Equity Securities Fv Ni Unrealized Gain Loss EquitySecuritiesFvNiUnrealizedGainLoss	-18347000	usd
CY2024Q1	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	56372000	usd
CY2023Q1	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	usd
CY2024Q1	us-gaap	Gains Losses On Sales Of Investment Real Estate GainsLossesOnSalesOfInvestmentRealEstate	14781000	usd
CY2023Q1	us-gaap	Gains Losses On Sales Of Investment Real Estate GainsLossesOnSalesOfInvestmentRealEstate	0	usd
CY2024Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	330000	usd
CY2023Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	42000	usd
CY2024Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	51971000	usd
CY2023Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-18305000	usd
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	37574000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-66419000	usd
CY2024Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.25
CY2024Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.25
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.45
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.45
CY2024Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	148516246	shares
CY2024Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	148516246	shares
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	148445004	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	148445004	shares
CY2024Q1	us-gaap	Profit Loss ProfitLoss	37574000	usd
CY2023Q1	us-gaap	Profit Loss ProfitLoss	-66419000	usd
CY2024Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	27534000	usd
CY2023Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	28497000	usd
CY2024Q1	us-gaap	Impairment Of Real Estate ImpairmentOfRealEstate	0	usd
CY2023Q1	us-gaap	Impairment Of Real Estate ImpairmentOfRealEstate	26988000	usd
CY2024Q1	us-gaap	Equity Securities Fv Ni Unrealized Gain Loss EquitySecuritiesFvNiUnrealizedGainLoss	-19512000	usd
CY2023Q1	us-gaap	Equity Securities Fv Ni Unrealized Gain Loss EquitySecuritiesFvNiUnrealizedGainLoss	-18347000	usd
CY2024Q1	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	3488000	usd
CY2023Q1	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	4234000	usd
CY2024Q1	us-gaap	Amortization Of Above And Below Market Leases AmortizationOfAboveAndBelowMarketLeases	-160000	usd
CY2023Q1	us-gaap	Amortization Of Above And Below Market Leases AmortizationOfAboveAndBelowMarketLeases	-200000	usd
CY2024Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	2482000	usd
CY2023Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	1039000	usd
CY2024Q1	us-gaap	Unrealized Gain Loss On Derivatives And Commodity Contracts UnrealizedGainLossOnDerivativesAndCommodityContracts	8904000	usd
CY2023Q1	us-gaap	Unrealized Gain Loss On Derivatives And Commodity Contracts UnrealizedGainLossOnDerivativesAndCommodityContracts	-13674000	usd
CY2024Q1	kbsriii	Gain Loss On Swap Terminations GainLossOnSwapTerminations	178000	usd
CY2023Q1	kbsriii	Gain Loss On Swap Terminations GainLossOnSwapTerminations	0	usd
CY2024Q1	kbsriii	Gain Loss On Settlement Of Early Terminated Swaps GainLossOnSettlementOfEarlyTerminatedSwaps	-6552000	usd
CY2023Q1	kbsriii	Gain Loss On Settlement Of Early Terminated Swaps GainLossOnSettlementOfEarlyTerminatedSwaps	0	usd
CY2024Q1	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	56372000	usd
CY2023Q1	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	usd
CY2024Q1	us-gaap	Gains Losses On Sales Of Investment Real Estate GainsLossesOnSalesOfInvestmentRealEstate	14781000	usd
CY2023Q1	us-gaap	Gains Losses On Sales Of Investment Real Estate GainsLossesOnSalesOfInvestmentRealEstate	0	usd
CY2024Q1	kbsriii	Interest Rate Swap Settlements For Off Market Swap Instruments Operating Activities InterestRateSwapSettlementsForOffMarketSwapInstrumentsOperatingActivities	0	usd
CY2023Q1	kbsriii	Interest Rate Swap Settlements For Off Market Swap Instruments Operating Activities InterestRateSwapSettlementsForOffMarketSwapInstrumentsOperatingActivities	-1636000	usd
CY2024Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	3395000	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	1915000	usd
CY2024Q1	us-gaap	Increase Decrease In Due From Related Parties IncreaseDecreaseInDueFromRelatedParties	0	usd
CY2023Q1	us-gaap	Increase Decrease In Due From Related Parties IncreaseDecreaseInDueFromRelatedParties	-8000	usd
CY2024Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	8090000	usd
CY2023Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	9688000	usd
CY2024Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	326000	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-4216000	usd
CY2024Q1	us-gaap	Increase Decrease In Due To Related Parties IncreaseDecreaseInDueToRelatedParties	1300000	usd
CY2023Q1	us-gaap	Increase Decrease In Due To Related Parties IncreaseDecreaseInDueToRelatedParties	1619000	usd
CY2024Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	1965000	usd
CY2023Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	3328000	usd
CY2024Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	1877000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	5192000	usd
CY2024Q1	us-gaap	Payments For Capital Improvements PaymentsForCapitalImprovements	9887000	usd
CY2023Q1	us-gaap	Payments For Capital Improvements PaymentsForCapitalImprovements	23010000	usd
CY2024Q1	us-gaap	Payments For Derivative Instrument Investing Activities PaymentsForDerivativeInstrumentInvestingActivities	0	usd
CY2023Q1	us-gaap	Payments For Derivative Instrument Investing Activities PaymentsForDerivativeInstrumentInvestingActivities	25000	usd
CY2024Q1	us-gaap	Proceeds From Sale Of Real Estate Heldforinvestment ProceedsFromSaleOfRealEstateHeldforinvestment	46929000	usd
CY2023Q1	us-gaap	Proceeds From Sale Of Real Estate Heldforinvestment ProceedsFromSaleOfRealEstateHeldforinvestment	0	usd
CY2024Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	37042000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-23035000	usd
CY2024Q1	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	10000000	usd
CY2023Q1	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	15000000	usd
CY2024Q1	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	46910000	usd
CY2023Q1	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	445000	usd
CY2024Q1	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	3184000	usd
CY2023Q1	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	530000	usd
CY2024Q1	kbsriii	Interest Rate Swap Settlements For Off Market Swap Instruments Financing Activities InterestRateSwapSettlementsForOffMarketSwapInstrumentsFinancingActivities	0	usd
CY2023Q1	kbsriii	Interest Rate Swap Settlements For Off Market Swap Instruments Financing Activities InterestRateSwapSettlementsForOffMarketSwapInstrumentsFinancingActivities	-1505000	usd
CY2024Q1	kbsriii	Restricted Cash Surrendered From Deed In Lieu Of Foreclosure RestrictedCashSurrenderedFromDeedInLieuOfForeclosure	1886000	usd
CY2023Q1	kbsriii	Restricted Cash Surrendered From Deed In Lieu Of Foreclosure RestrictedCashSurrenderedFromDeedInLieuOfForeclosure	0	usd
CY2024Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	0	usd
CY2023Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	2925000	usd
CY2024Q1	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	2000	usd
CY2023Q1	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	6000	usd
CY2024Q1	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	0	usd
CY2023Q1	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	11303000	usd
CY2024Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-41982000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	1296000	usd
CY2024Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-3063000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-16547000	usd
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	50922000	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	53837000	usd
CY2024Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	47859000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	37290000	usd
CY2024Q1	us-gaap	Interest Paid Net InterestPaidNet	22082000	usd
CY2023Q1	us-gaap	Interest Paid Net InterestPaidNet	19867000	usd
CY2024Q1	kbsriii	Mortgage Loan Extinguished In Connection With Deed In Lieu Of Foreclosure MortgageLoanExtinguishedInConnectionWithDeedInLieuOfForeclosure	125000000	usd
CY2023Q1	kbsriii	Mortgage Loan Extinguished In Connection With Deed In Lieu Of Foreclosure MortgageLoanExtinguishedInConnectionWithDeedInLieuOfForeclosure	0	usd
CY2024Q1	kbsriii	Real Estate Transferred In Connection With Deed In Lieu Of Foreclosure RealEstateTransferredInConnectionWithDeedInLieuOfForeclosure	69028000	usd
CY2023Q1	kbsriii	Real Estate Transferred In Connection With Deed In Lieu Of Foreclosure RealEstateTransferredInConnectionWithDeedInLieuOfForeclosure	0	usd
CY2024Q1	kbsriii	Net Liabilities Transferred In Connection With Deed In Lieu Of Foreclosure NetLiabilitiesTransferredInConnectionWithDeedInLieuOfForeclosure	2286000	usd
CY2023Q1	kbsriii	Net Liabilities Transferred In Connection With Deed In Lieu Of Foreclosure NetLiabilitiesTransferredInConnectionWithDeedInLieuOfForeclosure	0	usd
CY2024Q1	kbsriii	Non Cash Increase Decrease In Distributions Payable NonCashIncreaseDecreaseInDistributionsPayable	0	usd
CY2023Q1	kbsriii	Non Cash Increase Decrease In Distributions Payable NonCashIncreaseDecreaseInDistributionsPayable	5696000	usd
CY2024Q1	kbsriii	Distributions Paid To Common Stockholders Through Common Stock Issuances Pursuant To Dividend Reinvestment Plan DistributionsPaidToCommonStockholdersThroughCommonStockIssuancesPursuantToDividendReinvestmentPlan	0	usd
CY2023Q1	kbsriii	Distributions Paid To Common Stockholders Through Common Stock Issuances Pursuant To Dividend Reinvestment Plan DistributionsPaidToCommonStockholdersThroughCommonStockIssuancesPursuantToDividendReinvestmentPlan	7448000	usd
CY2024Q1	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	12276000	usd
CY2023Q1	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	18770000	usd
CY2024Q1	kbsriii	Accrued Interest Rate Swap Settlements Related To Off Market Swap Instruments AccruedInterestRateSwapSettlementsRelatedToOffMarketSwapInstruments	0	usd
CY2023Q1	kbsriii	Accrued Interest Rate Swap Settlements Related To Off Market Swap Instruments AccruedInterestRateSwapSettlementsRelatedToOffMarketSwapInstruments	-846000	usd
CY2024Q1	kbsriii	Long Term Debt Extension Term LongTermDebtExtensionTerm	P12M
CY2024Q1	us-gaap	Use Of Estimates UseOfEstimates	<div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div>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.
CY2024Q1	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-bottom:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;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. </span></div>During the three months ended March 31, 2024, the Company sold an office property. As a result, certain assets and liabilities related to this property were reclassified to held for sale on the consolidated balance sheets for all periods presented.
CY2024Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	0	shares
CY2023Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	0	shares
CY2023Q1	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.115
CY2023Q1	kbsriii	Common Share Distribution Rate For Share Per Month Declared CommonShareDistributionRateForSharePerMonthDeclared	0.03833333
CY2024Q1	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0
CY2024Q1	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	1	segment
CY2024Q1	us-gaap	Area Of Real Estate Property AreaOfRealEstateProperty	6900000	sqft
CY2024Q1	kbsriii	Percentage Of Real Estate Portfolio Occupied PercentageOfRealEstatePortfolioOccupied	0.828
CY2024Q1	us-gaap	Real Estate Investment Property At Cost RealEstateInvestmentPropertyAtCost	2448616000	usd
CY2024Q1	us-gaap	Real Estate Investment Property Accumulated Depreciation RealEstateInvestmentPropertyAccumulatedDepreciation	723331000	usd
CY2024Q1	us-gaap	Real Estate Investment Property Net RealEstateInvestmentPropertyNet	1725285000	usd
CY2024Q1	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	3500000	usd
CY2023Q1	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	4200000	usd
CY2024Q1	us-gaap	Deferred Rent Receivables Net DeferredRentReceivablesNet	96500000	usd
CY2023Q4	us-gaap	Deferred Rent Receivables Net DeferredRentReceivablesNet	91800000	usd
CY2024Q1	us-gaap	Incentive To Lessee IncentiveToLessee	18700000	usd
CY2023Q4	us-gaap	Incentive To Lessee IncentiveToLessee	16000000	usd
CY2024Q1	us-gaap	Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear	138343000	usd
CY2024Q1	us-gaap	Lessor Operating Lease Payments To Be Received Next Twelve Months LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths	178256000	usd
CY2024Q1	us-gaap	Lessor Operating Lease Payments To Be Received Two Years LessorOperatingLeasePaymentsToBeReceivedTwoYears	165217000	usd
CY2024Q1	us-gaap	Lessor Operating Lease Payments To Be Received Three Years LessorOperatingLeasePaymentsToBeReceivedThreeYears	142410000	usd
CY2024Q1	us-gaap	Lessor Operating Lease Payments To Be Received Four Years LessorOperatingLeasePaymentsToBeReceivedFourYears	123167000	usd
CY2024Q1	kbsriii	Lessor Operating Lease Payment To Be Received After Year Four LessorOperatingLeasePaymentToBeReceivedAfterYearFour	458135000	usd
CY2024Q1	us-gaap	Lessor Operating Lease Payments To Be Received LessorOperatingLeasePaymentsToBeReceived	1205528000	usd
CY2024Q1	kbsriii	Lessor Operating Lease Annualized Base Rent LessorOperatingLeaseAnnualizedBaseRent	60789000	usd
CY2024Q1	us-gaap	Impairment Of Real Estate ImpairmentOfRealEstate	0	usd
CY2023Q1	us-gaap	Impairment Of Real Estate ImpairmentOfRealEstate	27000000	usd
CY2024Q1	kbsriii	Tenant Origination And Absorption Costs Gross TenantOriginationAndAbsorptionCostsGross	33030000	usd
CY2023Q4	kbsriii	Tenant Origination And Absorption Costs Gross TenantOriginationAndAbsorptionCostsGross	34574000	usd
CY2024Q1	kbsriii	Above Market Leases Gross AboveMarketLeasesGross	873000	usd
CY2023Q4	kbsriii	Above Market Leases Gross AboveMarketLeasesGross	904000	usd
CY2024Q1	us-gaap	Below Market Lease Gross BelowMarketLeaseGross	5049000	usd
CY2023Q4	us-gaap	Below Market Lease Gross BelowMarketLeaseGross	7216000	usd
CY2024Q1	kbsriii	Tenant Origination And Absorption Costs Accumulated Amortization TenantOriginationAndAbsorptionCostsAccumulatedAmortization	24695000	usd
CY2023Q4	kbsriii	Tenant Origination And Absorption Costs Accumulated Amortization TenantOriginationAndAbsorptionCostsAccumulatedAmortization	25450000	usd
CY2024Q1	kbsriii	Above Market Leases Accumulated Amortization AboveMarketLeasesAccumulatedAmortization	702000	usd
CY2023Q4	kbsriii	Above Market Leases Accumulated Amortization AboveMarketLeasesAccumulatedAmortization	715000	usd
CY2024Q1	us-gaap	Below Market Lease Accumulated Amortization BelowMarketLeaseAccumulatedAmortization	4158000	usd
CY2023Q4	us-gaap	Below Market Lease Accumulated Amortization BelowMarketLeaseAccumulatedAmortization	6147000	usd
CY2024Q1	kbsriii	Tenant Origination And Absorption Costs Net TenantOriginationAndAbsorptionCostsNet	8335000	usd
CY2023Q4	kbsriii	Tenant Origination And Absorption Costs Net TenantOriginationAndAbsorptionCostsNet	9124000	usd
CY2024Q1	kbsriii	Above Market Leases Net AboveMarketLeasesNet	171000	usd
CY2023Q4	kbsriii	Above Market Leases Net AboveMarketLeasesNet	189000	usd
CY2024Q1	us-gaap	Below Market Lease Net BelowMarketLeaseNet	891000	usd
CY2023Q4	us-gaap	Below Market Lease Net BelowMarketLeaseNet	1069000	usd
CY2024Q1	kbsriii	Tenant Origination And Absorption Costs Amortization Expense TenantOriginationAndAbsorptionCostsAmortizationExpense	789000	usd
CY2023Q1	kbsriii	Tenant Origination And Absorption Costs Amortization Expense TenantOriginationAndAbsorptionCostsAmortizationExpense	1037000	usd
CY2024Q1	kbsriii	Above Market Leases Amortization Expense AboveMarketLeasesAmortizationExpense	18000	usd
CY2023Q1	kbsriii	Above Market Leases Amortization Expense AboveMarketLeasesAmortizationExpense	19000	usd
CY2024Q1	kbsriii	Off Market Lease Unfavorable Amortization Expense OffMarketLeaseUnfavorableAmortizationExpense	178000	usd
CY2023Q1	kbsriii	Off Market Lease Unfavorable Amortization Expense OffMarketLeaseUnfavorableAmortizationExpense	219000	usd
CY2024Q1	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	1576703000	usd
CY2023Q4	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	1738613000	usd
CY2024Q1	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	3417000	usd
CY2023Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	2717000	usd
CY2024Q1	us-gaap	Long Term Debt LongTermDebt	1573286000	usd
CY2023Q4	us-gaap	Long Term Debt LongTermDebt	1735896000	usd
CY2024Q1	kbsriii	Long Term Debt Obligation Due Over Next12 Month Period LongTermDebtObligationDueOverNext12MonthPeriod	1200000000	usd
CY2024Q1	kbsriii	Long Term Debt Obligation Remaining Term LongTermDebtObligationRemainingTerm	P12M
CY2024Q1	us-gaap	Interest Expense InterestExpense	32500000	usd
CY2023Q1	us-gaap	Interest Expense InterestExpense	26700000	usd
CY2024Q1	us-gaap	Interest Payable Current InterestPayableCurrent	10000000	usd
CY2023Q4	us-gaap	Interest Payable Current InterestPayableCurrent	9900000	usd
CY2024Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear	1192938000	usd
CY2024Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Next Twelve Months LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths	70083000	usd
CY2024Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	313682000	usd
CY2024Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	0	usd
CY2024Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	0	usd
CY2024Q1	kbsriii	Long Term Debt Maturity After Year Four LongTermDebtMaturityAfterYearFour	0	usd
CY2024Q1	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	1576703000	usd
CY2024Q1	us-gaap	Debt Instrument Face Amount DebtInstrumentFaceAmount	1576703000	usd
CY2023Q4	us-gaap	Debt Instrument Face Amount DebtInstrumentFaceAmount	1738613000	usd

Files In Submission

Name	View Source	Status
0001482430-24-000035-index-headers.html	Edgar Link	pending
0001482430-24-000035-index.html	Edgar Link	pending
0001482430-24-000035.txt	Edgar Link	pending
0001482430-24-000035-xbrl.zip	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
kbsriii-20240331.htm	Edgar Link	pending
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kbsriiiq12024exhibit101.htm	Edgar Link	pending
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$KBSR
KBS Real Estate Investment Trust III, Inc. Stock $kbsr

2024 Q2 Form 10-Q Financial Statement

#000148243024000035 Filed on May 15, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$KBSR KBS Real Estate Investment Trust III, Inc. Stock $kbsr

2024 Q2 Form 10-Q Financial Statement

#000148243024000035 Filed on May 15, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$KBSR
KBS Real Estate Investment Trust III, Inc. Stock $kbsr