Kbs Real Estate Investment Trust Iii, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 12, 2020 at 04:36 pm EDT
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KBS Real Estate Investment Trust III, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced total revenue was USD 75.971 million compared to USD 114.509 million a year ago. Net income was USD 39.508 million compared to net loss of USD 28.115 million a year ago. Basic earnings per share from continuing operations was USD 0.22 compared to basic loss per share from continuing operations of USD 0.16 a year ago. For the half year, total revenue was USD 153.673 million compared to USD 225.887 million a year ago. Net loss was USD 19.395 million compared to USD 54.793 million a year ago. Basic loss per share from continuing operations was USD 0.11 compared to USD 0.31 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. 
