KBS Real Estate Investment Trust III Company Description
KBS Real Estate Investment Trust III, Inc. (the “Company”) is a Maryland corporation that has elected to be taxed as a real estate investment trust (“REIT”) and it intends to continue to operate in such a manner.
As used herein, the terms “we,” “our” and “us” refer to the Company and as required by context, KBS Limited Partnership III, a Delaware limited partnership, which we refer to as our “Operating Partnership,” and to their subsidiaries.
We conduct our business primarily through our Operating Partnership, of which we are the sole general partner.
We have invested in a diverse portfolio of real estate investments. As of December 31, 2022, we owned 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”).
We commenced our initial public offering on October 26, 2010, the primary portion of which terminated in July 2015.
KBS Capital Markets Group LLC served as dealer manager for the offering. We sold 169,006,162 shares of common stock in our now-terminated primary initial public offering for gross offering proceeds of $1.7 billion.
As of December 31, 2022, we had also sold 44,254,383 shares of common stock under our dividend reinvestment plan for gross offering proceeds of $455.1 million.
Also as of December 31, 2022, we had redeemed or repurchased 73,295,267 shares sold in our initial public offering for $777.1 million.
Additionally, on October 3, 2014, we issued 258,462 shares of common stock, for $2.4 million, in private transactions exempt from the registration requirements pursuant to Section 4(a)(2) of the Securities Act of 1933.
We continue to offer shares of common stock under our dividend reinvestment plan. In some states, we will need to renew the registration statement annually or file a new registration statement to continue the dividend reinvestment plan offering.
We may terminate our dividend reinvestment plan offering at any time.
| Country | United States |
| Founded | 2009 |
| Industry | REIT - Office |
| Sector | Real Estate |
| CEO | Charles Schreiber |
Contact Details
Address: 800 Newport Center Drive Newport Beach, Maryland 92660-6319 United States | |
| Phone | 949 417 6500 |
| Website | kbs-cmg.com |
Stock Details
| Ticker Symbol | KBSR |
| Exchange | OTCMKTS |
| Stock Type | Common Stock |
| Fiscal Year | January - December |
| Reporting Currency | USD |
| ISIN Number | US48668L1052 |
| SIC Code | 6798 |
Key Executives
| Name | Position |
|---|---|
| Charles Jay Schreiber Jr. | Chief Executive Officer, President and Director |
| Jeffrey Keith Waldvogel | Chief Financial Officer, Treasurer and Secretary |
| Stacie K. Yamane CPA, CPA | Chief Accounting Officer and Assistant Secretary |