Kbs Real Estate Invt Tr Iii Inc. · OTC:KBSR
Kbs Real Estate Invt Tr Iii — KBS Real Estate Investment Trust III — Corporate Update (December 2015)
24 slides from Kbs Real Estate Invt Tr Iii's corporate update, Dec 9, 2015
Slide 1: Revaluation & Portfolio Update December 9, 2015
Revaluation & Portfolio Update December 9, 2015 1 Exhibit 99.2
Slide 2: Forward-Looking Statements
Forward-Looking Statements The information contained herein should be read in conjunction with, and is qualified by, the information in KBS Real Estate Investment Trust III’s (“KBS REIT III”) Annual Report on Form 10-K for the year ended December 31, 2014, filed with the Securities and Exchange Comm
Slide 3: Offering Overview
Primary offering broke escrow March 24, 2011 Ceased offering shares May 29, 2015, and terminated the primary offering July 28, 2015 Raised more than $1.7 billion during the primary offering (excluding offering proceeds from the dividend reinvestment plan) Estimated net asset value (NAV) per
Slide 4: Total Acquisitions/Originations and Current Portfolio
Total Acquisitions/Originations: $3,007,453,0001 28 Equity Assets 1 Debt Asset Total Current Portfolio: $2,971,739,0002 27 Equity Assets 1 Debt Asset Rentable Sq. Ft.: 10,447,2303 Total Leased: 94%4 Leverage: 53%5 1 Represents acquisition price (excluding closing costs) of real estate properties and
Slide 5: Valuation methodology for estimated value per share
KBS REIT III’s estimated value per share2 was determined in accordance with the Investment Program Association’s Practice Guideline 2013-01, Valuations of Publicly Registered Non-Listed REITs. Duff & Phelps, an independent, third-party real estate valuation firm, was engaged to provide a calcula
Slide 6: Valuation
Valuation 6 On December 8, 2015, KBS REIT III’s Board of Directors approved an estimated value per share of $10.04.1 The following is a summary of the estimated value per share changes within each asset and liability group from the December 2014 estimated value per share: 1 Based on the estimated va
Slide 7: Real Estate Updates: Tower on Lake Carolyn
Real Estate Updates 7 Tower on Lake Carolyn The appraised value increased $13.3 million from prior year appraised value due to the following: Comparable transactions in Dallas/Fort Worth (DFW) A similar property recently sold for $235/psf and one tenant occupying 50% of that building will be lea
Slide 8: Distribution History & Yield
Distribution History & Yield 1 Based on distributions declared as of November 9, 2015. Total distributions paid through September 30, 2015, consisted of 49% paid in cash and 51% reinvested through the dividend reinvestment plan. KBS REIT III funded its total distributions paid through September 30,
Slide 9: Portfolio Overview
9 Portfolio Overview 1 Reflects weighted-average lease percentage as of the acquisition date taking into account all real estate owned as of each respective date. Leased % at Acquisition1 vs. Actual Leased %
Slide 10: Towers at Emeryville Investment at a Glance
Towers at Emeryville Investment at a Glance Location: Emeryville, CA Property Type: Class A Office Acquisition Date: December 23, 2014 Purchase Price: $ 248,000,000 No. of Buildings: 3 No. of Stories: 12,12,16 Square Footage: 815,018 Sq. Ft. Year Built (Renovated): 1972, 1975, 1985 (1998, 2012) Leas
Slide 11: South Hanley
101 South Hanley INVESTMENT AT A GLANCE Location: St. Louis, MO Property Type: Class A Office Acquisition Date: December 24, 2014 Purchase Price: $62,300,000 No. of Buildings: 1 No. of Stories: 19 Square Footage: 346,451 SF Year Built: 1986 Leased Percentage (at Acquisition): 92% Acquisition Update
Slide 12: 3003 Washington Blvd.
3003 Washington Blvd. INVESTMENT AT A GLANCE Location: Arlington, VA Property Type: Class A Office Acquisition Date: December 30, 2014 Purchase Price: $148,600,000 No. of Buildings: 1 No. of Stories: 10 plus penthouse Square Footage: 211,170 SF Year Built: 2014 Leased Percentage (at Acquisition): 95
Slide 13: Village Center Station
Village Center Station INVESTMENT AT A GLANCE Location: Greenwood Village, CO Property Type: Class A Office Acquisition Date: May 20, 2015 Purchase Price: $76,700,000 No. of Buildings: 1 No. of Stories: 9 Square Footage: 234,915 SF Year Built: 2009 Leased Percentage (at Acquisition): 99% Site Size 3
Slide 14: Park Place Village
Park Place Village INVESTMENT AT A GLANCE Location: Leawood, KS Property Type: Class A Office/Retail Acquisition Date: June 18, 2015 Purchase Price: $126,500,000 No. of Buildings: 10 No. of Stories: 1-4 Square Footage: 372,201 SF Office Square Footage: 110,918 SF Retail Year Built: 2007-2013 Leased
Slide 15: 17th Street
201 17th Street INVESTMENT AT A GLANCE Location: Atlanta, GA Property Type: Class A Office Acquisition Date: June 23, 2015 Purchase Price: $98,250,000 No. of Buildings: 1 No. of Stories: 17 Square Footage: 355,870 SF Year Built: 2007 Leased Percentage (at Acquisition): 93% Acquisition Update
Slide 16: Promenade I & II at Éilan
Promenade I & II at Éilan Investment at a Glance Location: San Antonio, TX Property Type: Class A Office Acquisition Date: July 14, 2015 Purchase Price: $61,550,000 No. of Buildings: 2 No. of Stories: 4 Square Footage: 200,072 SF Leased Percentage (at Acquisition): 100% Year Built: 2011 Acquisition
Slide 17: CrossPoint at Valley Forge
CrossPoint at Valley Forge INVESTMENT AT A GLANCE Location: Wayne, PA Property Type: Class A Office Acquisition Date: August 18, 2015 Purchase Price: $89,500,000 No. of Buildings: 1 No. of Stories: 4 Square Footage: 272,360 SF Year Built: 1974/2014 Leased Percentage (at Acquisition): 95% Site Size: 2
Slide 18: Congress
515 Congress INVESTMENT AT A GLANCE Location: Austin, TX Property Type: Class A Office Acquisition Date: August 31, 2015 Purchase Price: $112,500,000 No. of Buildings: 1 No. of Stories: 26 Square Footage: 258,176 SF Year Built: 1975 Leased Percentage (at Acquisition): 95% Acquisition Update
Slide 19: The Almaden
The Almaden INVESTMENT AT A GLANCE Location: San Jose, CA Property Type: Class B Office Acquisition Date: September 23, 2015 Purchase Price: $150,000,000 No. of Buildings: 3 No. of Stories: 12, 8, 10 Square Footage: 416,127 SF Year Built (renovated): 1980, 1981 (2006) Leased Percentage (at Acquisiti
Slide 20: 3001 Washington
3001 Washington INVESTMENT AT A GLANCE Location: Arlington, VA Property Type: Class A Office Acquisition Date: November 6, 2015 Purchase Price: $52,000,000 No. of Buildings: 1 No. of Stories: 8 Square Footage: 94,837 SF Year Built: 2014 Leased Percentage (at Acquisition): 37% Acquisition Update
Slide 21: Stockholder Communication
Account statements reflect the estimated value per share of $10.04, beginning with December 2015 statements. Stockholder letter included with December statements mailed in early January. Online estimated value per share visible through DST updated to show the current estimated value per share.
Slide 22: 2016 Goals & Objectives
Complete acquisition phase of the REIT (approximately $100 million to $110 million of remaining equity to be invested) Complete major capital projects, such as renovations of amenity enhancements, with the goal of attracting quality tenants Lease-up and stabilize the remainder of the portfolio
Slide 23: KBS REIT III is providing this estimated value per share to assist broker dealers
KBS REIT III is providing this estimated value per share to assist broker dealers that participated in KBS REIT III’s initial public offering in meeting their customer account statement reporting obligations. This valuation was performed in accordance with the provisions of and also to comply with t
Slide 24: Thank you!
Thank you! KBS Capital Markets Group Member FINRA & SIPC 800 Newport Center Dr., Suite 600 Newport Beach, CA 92660 (866) 527-4264 24
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