KBS Real Estate Investment Trust III, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 15, 2022 at 06:28 am EDT
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KBS Real Estate Investment Trust III, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 68.19 million compared to USD 69.77 million a year ago. Revenue was USD 72.74 million compared to USD 73.85 million a year ago. Net loss was USD 16.16 million compared to net income of USD 0.088 million a year ago. Basic loss per share from continuing operations was USD 0.11. Diluted loss per share from continuing operations was USD 0.11.
For the six months, sales was USD 137.04 million compared to USD 140.86 million a year ago. Revenue was USD 153.04 million compared to USD 148.59 million a year ago. Net loss was USD 5.6 million compared to net income of USD 27.51 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to basic earnings per share from continuing operations of USD 0.15 a year ago. Diluted loss per share from continuing operations was USD 0.04 compared to diluted earnings per share from continuing operations of USD 0.15 a year ago.
KBS Real Estate Investment Trust III, Inc. is a real estate investment trust (REIT). The Company acquires and manages a diverse portfolio of core real estate properties. The Company conducts its business through KBS Limited Partnership III (the Operating Partnership). The Company's primary investment focus was core office properties located throughout the United States, through which the Company invests in other types of properties and real estate-related investments. The Company owns approximately 16 office properties, one mixed-use office/retail property and an investment in the equity securities of a Singapore real estate investment trust (the SREIT). The primary types of office properties the Company intends to invest in include low-rise, mid-rise and high-rise office buildings and office parks in urban and suburban locations. The Company is managed by KBS Capital Advisors LLC.
KBS REAL ESTATE INVESTMENT TRUST III, INC. 
