KBS Real Estate Investment Trust III, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 09, 2022 at 05:02 pm EST
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KBS Real Estate Investment Trust III, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 67.9 million compared to USD 68.54 million a year ago. Revenue was USD 80.22 million compared to USD 73.06 million a year ago. Net loss was USD 15.5 million compared to USD 2.24 million a year ago. Basic loss per share from continuing operations was USD 0.11 compared to USD 0.01 a year ago.
For the nine months, sales was USD 204.94 million compared to USD 209.4 million a year ago. Revenue was USD 233.26 million compared to USD 221.65 million a year ago. Net loss was USD 21.1 million compared to net income of USD 25.28 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to basic earnings per share from continuing operations of USD 0.14 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. 
