KBS Real Estate Investment Trust III, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 02:21 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, 2023. For the third quarter, the company reported sales was USD 69.49 million compared to USD 67.9 million a year ago. Revenue was USD 79.55 million compared to USD 80.22 million a year ago. Net loss was USD 23.12 million compared to USD 15.5 million a year ago. Basic loss per share from continuing operations was USD 0.16 compared to USD 0.11 a year ago.
For the nine months, sales was USD 200.86 million compared to USD 204.94 million a year ago. Revenue was USD 226.57 million compared to USD 233.26 million a year ago. Net loss was USD 133.59 million compared to USD 21.1 million a year ago. Basic loss per share from continuing operations was USD 0.9 compared to 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. 
