Kbs Real Estate Investment Trust Iii, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 16, 2020 at 07:15 am EST
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KBS Real Estate Investment Trust III, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced total revenue was USD 75.503 million compared to USD 82.981 million a year ago. Net income was USD 1.119 million compared to USD 316.884 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to USD 1.82 a year ago. For the nine months, total revenue was USD 229.176 million compared to USD 308.868 million a year ago. Net loss was USD 18.276 million compared to net income of USD 262.091 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to basic earnings per share from continuing operations of USD 1.5 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. 
