Kbs Real Estate Invt Tr Iii Inc. · OTC:KBSR
Kbs Real Estate Invt Tr Iii — KBS Real Estate Investment Trust III — Investor Presentation (January 2026)
27 slides from Kbs Real Estate Invt Tr Iii's investor presentation, Jan 30, 2026
Slide 1: January 2026 Portfolio and NAV Update
1 201 17th Street Atlanta, GA January 2026 Portfolio and NAV Update Exhibit 99.1
Slide 2: Important Disclosures
KBS-CMG.COM 2 The information contained herein should be read in conjunction with, and is qualified by, the information in KBS Real Estate Investment Trust III, Inc.’s (the “Company”, “KBS REIT III”, ”we” or “our”) Annual Report on Form 10-K (the “Annual Report”), and in the Company’s Quarterly Repo
Slide 3: Important Disclosures (continued)
KBS-CMG.COM 3 In order to refinance, restructure or extend maturing debt obligations, KBS REIT III has been required to reduce the loan commitments and/or make paydowns on certain loans, and KBS REIT III has agreed to satisfy certain conditions that are not in its sole control, including making prin
Slide 4: Real Estate Update
4 3001 & 3003 Washington Arlington, VA Section 01 Real Estate Update KBS-CMG.COM
Slide 5: Message from the Chairman
KBS-CMG.COM 5 Message from the Chairman Dear Stockholders, We are providing an updated portfolio snapshot of KBS Real Estate Investment Trust III, Inc. We continue to navigate challenges in the commercial real estate market, especially the office sector, in which we are invested. While some regions
Slide 6: 2025 Transaction Recap
KBS-CMG.COM 6 2025 Transaction Recap Sterling Plaza Dallas, TX Section 01 | Real Estate Update Completed the sale of Sterling Plaza in July 2025 for $126.5 million. Completed the sale of Park Place Village in September 2025 for $100 million. Paid down $178.0 million of debt from the sale proceeds no
Slide 7: Return to Office Dynamics Continue to Shift
KBS-CMG.COM 7 Return to Office Dynamics Continue to Shift Six years removed, the Company’s assets continue to navigate through the lasting impacts of the pandemic on market dynamics and office space demand. As return-to-office mandates continue throughout the nation, we hope that will provide us som
Slide 8: Portfolio Overview
KBS-CMG.COM 8 Property Metro City Sq. Ft. Bldg. Class Classification Leased % September 30, 2025 Gateway Tech Center Salt Lake City, UT 210,938 A CBD 92% Ten Almaden San Jose, CA 309,255 A CBD 51% The Almaden San Jose, CA 416,126 A CBD 72% Towers at Emeryville Emeryville, CA 593,484 A Urban 56% West
Slide 9: Towers at Emeryville, Emeryville, CA
KBS-CMG.COM Towers at Emeryville, Emeryville, CA • The overall market asking rent rate in this area at the close of the third quarter of 2025 was $3.74 per square foot (PSF) on a monthly full-service basis, down $0.03 from the prior quarter and $0.24 PSF year-over-year. • Leasing in the East Bay/Oak
Slide 10: Silicon Valley Area: Ten Almaden and The Almaden
KBS-CMG.COM Silicon Valley Area Silicon Valley markets continue to exhibit among the lowest return-to-office rates, reflecting the region’s heavy concentration of technology tenants, which comprise approximately 65% of the tenant base. While office utilization remains subdued, tenant leasing activit
Slide 11: 60 South Sixth Street, Minneapolis, MN
KBS-CMG.COM 60th South Sixth Street, Minneapolis, MN • The Minneapolis-St. Paul economy exhibited signs of slowing momentum in the third quarter of 2025 as the local unemployment rate increased 0.3% year-over-year (YOY) to 3.4%, although it remained 0.9% lower than the national average of 4.3%. • Th
Slide 12: Town Center, Plano, TX
KBS-CMG.COM Town Center, Plano, TX • It’s expected that net absorption and vacancy will continue trending in a positive direction in the Dallas market. Nevertheless, slower job growth and consolidations will continue to drag on net absorption in the near-term. • Flight to quality will continue bifur
Slide 13: Portfolio Leased Occupancy
KBS-CMG.COM 13 Portfolio Leased Occupancy1 Section 01 | Real Estate Update 1 Total KBS REIT III properties held as of September 30, 2025. Leased occupancy includes future leases that had been executed but had not commenced as of the end of each period. The chart below illustrates the substantial dif
Slide 14: Debt Update
14 The Almaden San Jose, CA Section 02 Debt Update KBS-CMG.COM
Slide 15: Debt Maturities as of September 30, 2025
KBS-CMG.COM 15 Debt Maturities as of September 30, 2025 (in thousands) Section 02 | Debt Update Initial Debt Maturities1 Fully Extended Debt Maturities1,2 1 Debt balance as of September 30, 2025. Extensions available upon meeting certain conditions set forth in the loan agreement for certain loans.
Slide 16: December 2025 Estimated Value
16 515 Congress Austin, TX Section 03 December 2025 Estimated Value KBS-CMG.COM
Slide 17: Value Information
KBS-CMG.COM Value Information • KBS REIT III’s estimated value per share was determined in accordance with the Institute for Portfolio Alternatives’ Practice Gu ideline 2013-01, Valuations of Publicly Registered Non-Listed REITs (the “IPA Valuation Guidelines”). • Kroll, an independent, third-party
Slide 18: Valuation Summary
KBS-CMG.COM Valuation Summary (in millions) December 20251 Estimated Value December 20242 Estimated Value Real Estate Properties $1,631.4 (93%) $2,154.7 (96%) Investment in Prime US REIT Units $39.1 (2%) $28.4 (1%) Cash and Restricted Cash $79.9 (5%) $46.1 (2%) Other Assets3 $9.2 (0%) $21.4 (1%) Tot
Slide 19: Valuation Change
KBS-CMG.COM Valuation Change December 2024 Estimated Value Per Share $3.89 Real Estate Properties Held as of September 30, 2025 (1.10) Real Estate Properties Sold through September 30, 2025 0.04 Investment in Prime US REIT Units 0.07 Capital Expenditures on Real Estate (0.21) Total Changes Related t
Slide 20: Valuation Change Summary by Region
KBS-CMG.COM West Region Valuation Change in Value $383,500,000 -24.4% Avg. Change in Discount Rate Avg. Change in Terminal Cap 81 bps 50 bps Central Region Valuation Change in Value $808,480,000 -3.1% Avg. Change in Discount Rate Avg. Change in Terminal Cap 19 bps 13 bps East Region Valuation Change
Slide 21: Estimated Value Per Share Limitations
KBS-CMG.COM • a stockholder would be able to resell his or her shares at KBS REIT III’s estimated value per share; • a stockholder would ultimately realize distributions per share equal to KBS REIT III’s estimated value per share upon liquidation of KBS REIT III’s assets and settlement of its liabil
Slide 22: Stockholder Valuation Information (continued)
KBS-CMG.COM Stockholder Valuation Information (continued) As of January 30, 2026, KBS REIT III has approximately $1.26 billion of debt maturing in the next 12 months and also has approximately $10.0 million of required loan paydowns. Two of the loans maturing in the next 12 months have extension opt
Slide 23: Liquidity Update
23 Town Center Plano, TX Section 04 Liquidity Update KBS-CMG.COM
Slide 24: Share Redemption Plan and Distributions
KBS-CMG.COM Share Redemption Plan and Distributions Prior to the most recent real estate downturn and credit crunch that occurred subsequent to the COVID-19 pandemic and the aggressive interest rate hiking cycle by the federal reserve, we consistently focused on providing liquidity to shareholders.
Slide 25: Future Strategy
25 Gateway Tech Center Salt Lake City, UT Section 05 Future Strategy KBS-CMG.COM
Slide 26: KBS REIT III 2026 Goals & Objectives
KBS-CMG.COM 26 KBS REIT III 2026 Goals & Objectives Paydown Debt Sell Assets Stabilize Assets 201 17th Street Atlanta, GA Section 05 | Future Strategy
Slide 27: Investor Relations Contact
KBS-CMG.COM 27 Section 05 | Future Strategy Carillon Charlotte, NC For questions, please contact Investor/Advisor Relations toll free at: (866) 527-4264 27
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