KBS Real Estate Investment Trust III, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 11, 2023 at 03:11 pm 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, 2023. For the second quarter, the company reported sales was USD 62.07 million compared to USD 68.19 million a year ago. Revenue was USD 66.83 million compared to USD 72.74 million a year ago. Net loss was USD 44.06 million compared to USD 16.16 million a year ago. Basic loss per share from continuing operations was USD 0.3 compared to USD 0.11 a year ago.
For the six months, sales was USD 131.37 million compared to USD 137.04 million a year ago. Revenue was USD 147.02 million compared to USD 153.04 million a year ago. Net loss was USD 110.48 million compared to USD 5.6 million a year ago. Basic loss per share from continuing operations was USD 0.74 compared to USD 0.04 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. 
