Kbs Real Estate Investment Trust Iii, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 13, 2019 at 05:33 pm EST
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KBS Real Estate Investment Trust III, Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced total revenue was USD 82.981 million compared to USD 106.145 million a year ago. Net income was USD 316.884 million compared to net loss of USD 4.070 million a year ago. Basic earnings per share was USD 1.82 compared to basic loss per share of USD 0.02 a year ago. For the nine months, total revenue was USD 308.868 million compared to USD 317.900 million a year ago. Net income was USD 262.091 million compared to USD 30.309 million a year ago. Basic earnings per share was USD 1.5 compared to USD 0.17 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. 