Kbs Real Estate Invt Tr Iii Inc. · OTC:KBSR
Kbs Real Estate Invt Tr Iii — KBS Real Estate Investment Trust III — Corporate Update (December 2017)
18 slides from Kbs Real Estate Invt Tr Iii's corporate update, Dec 14, 2017
Slide 1: Revaluation & Portfolio Update
Revaluation & Portfolio Update December 14, 2017 1 Exhibit 99.1
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, 2016, filed with the Securities and Exchange Comm
Slide 3: Offering Overview
Primary offering broke escrow March 24, 2011 (Offering price $10.00 per share) Estimated net asset value (NAV) of $9.291 per share as of May 5, 2014 (Offering price $10.39 per share) Estimated NAV of $9.422 per share as of Dec. 9, 2014 (Offering price $10.51 per share) Ceased offering shares
Slide 4: Portfolio Overview (as of Sept. 30, 2017)
Total Acquisitions/Originations: $3,257,777,0001 31 Equity Assets 1 Debt Asset Current Portfolio Cost Basis: $3,526,183,0002 30 Equity Assets December 2017 Estimated Value of Portfolio: $4,015,454,0003 Rentable Sq. Ft.: 11,050,0264 Total Leased: 94.9%5 Leverage (Loan-to-Cost): 57%6 Leverage (Loan-to
Slide 5: Estimated value per share methodology
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 6, 2017, KBS REIT III’s Board of Directors approved an estimated value per share of $11.73.1 The following is a summary of the estimated value per share changes within each asset and liability group from the December 2016 estimated value per share: 1 Based on the estimated va
Slide 7: Real Estate Updates: The Towers At Emeryville
Real Estate Updates 7 The Towers At Emeryville The appraised value increased $37.5 million, or 11.8%, from prior year appraised value due to the following: The Oakland/Emeryville office markets have risen sharply over the last few years due to the success of the San Francisco office market located
Slide 8: Real Estate Updates: Spear Street
Real Estate Updates 8 201 Spear Street The appraised value increased $35.1 million, or 20.4%, from prior year appraised value due to the following: The San Francisco office market continues to thrive. Technology companies continue to lease large blocks of space in San Francisco in spite of the hig
Slide 9: Distribution History & Yield
Distribution History & Yield 1 Based on distributions declared as of November 14, 2017. Total distributions paid through September 30, 2017, consisted of 48% paid in cash and 52% reinvested through the dividend reinvestment plan. KBS REIT III funded its total distributions paid through September 30,
Slide 10: Portfolio Overview
10 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. Lease % includes future leases that had been executed but had not yet commenced as of September 30, 2017. KBS REIT III’s investment in a
Slide 11: Village Center Station II
Village Center Station II INVESTMENT AT A GLANCE Location: Greenwood Village, CO Investment Type: Construction-in-Progress Unconsolidated JV office development KBS REIT III Interest: 75% No. of Buildings: 2 No. of Stories: 12,2 Estimated Total Projected Cost at Completion: $113.1 million Expected Co
Slide 12: Hardware Village
Hardware Village INVESTMENT AT A GLANCE Location: Salt Lake City, UT Investment Type: Construction-in-Progress Consolidated JV multi-family development KBS REIT III Interest: 99.24% No. of Buildings: 2 No. of Stories: 6 Total Projected Cost at Completion: $124.7 million Expected Completion: Q1/Q4 20
Slide 13: 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 now-terminated initial public offering in meeting their customer account statement reporting obligations. This valuation was performed in accordance with the provisions of and also t
Slide 14: Stockholder Performance
Stockholder Performance 14 Hypothetical Performance of Early and Late Investors Assumes all distributions have been taken in cash and stockholder has held shares since the dates below 1 The numbers in this column would change to $16.79 and $13.55 for an early and late investor, respectively, who ful
Slide 15: Stockholder Performance
Stockholder Performance 15 Hypothetical Performance of Early and Late Investors $10.00 Share Price for Early Investors and $10.51 Share Price for Late Investors, All Distributions Received in Cash 1 Determined solely to be used as a component in calculating the offering price of KBS REIT III’s now-t
Slide 16: Stockholder Communication
Account statements reflect the estimated value per share of $11.73, beginning with December 2017 statements. Stockholder letter included with December 2017 statements mailed in early January 2018. Online estimated value per share visible through DST updated to show the current estimated value
Slide 17: 2018 Goals & Objectives
Complete major capital projects, such as renovations or amenity enhancements, with the goal of attracting quality tenants Lease-up and stabilize the remainder of the portfolio Distribute operating cash flows to stockholders Continue to monitor the properties in the portfolio for beneficial s
Slide 18: Thank you!
Thank you! KBS Capital Markets Group Member FINRA & SIPC 800 Newport Center Dr., Suite 700 Newport Beach, CA 92660 (866) 527-4264 18
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