ITEM 8.01 OTHER EVENTS

Amended and Restated Share Redemption Program

On April 13, 2022, KBS Real Estate Investment Trust III, Inc.'s (the "Company") board of directors approved an amended and restated share redemption program (the "Amended Share Redemption Program") to increase the number of shares eligible for redemption under the program for calendar year 2022. Pursuant to the Amended Share Redemption Program, for calendar year 2022, the Company may redeem up to 5% of the weighted-average number of shares outstanding during the 2021 calendar year, provided that once the Company has received requests for redemptions, whether in connection with Special Redemptions (defined below) or otherwise, that if honored, and when combined with all prior redemptions made during the 2022 calendar year, would result in the number of remaining shares available for redemption in the 2022 calendar year being 500,000 or less, the last 500,000 shares available for redemption shall be reserved exclusively for redemptions sought in connection with a stockholder's death, "Qualifying Disability, or "Determination of Incompetence" (each as defined in the Amended Share Redemption Program and, together, with redemptions sought in connection with a stockholder's death, "Special Redemptions;" all redemptions that do not meet the requirements for a Special Redemption are "Ordinary Redemptions").

There were no other material changes to the Company's share redemption program. The Amended Share Redemption Program contains several general limitations on the Company's ability to redeem shares under the program.

The Company may (a) amend, suspend or terminate the Amended Share Redemption Program for any reason, or (b) consistent with SEC guidance and interpretations, increase or decrease the funding available for the redemption of shares pursuant to the Amended Share Redemption Program, each upon ten business days' notice to the Company's stockholders. The Company may provide notice by including such information in a (i) Current Report on Form 8-K or in its annual or quarterly reports, all publicly filed with the SEC or (ii) separate mailing to the stockholders.

The Amended Share Redemption Program will be effective for the April 29, 2022 redemption date. The complete Amended Share Redemption Program is filed as an exhibit to this Current Report on Form 8-K.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS



(d)            Exhibits

Ex.            Description

99.1             Amended and Restated Share Redemption Program

104            Cover Page Interactive Data File (embedded within the Inline XBRL document)


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