KBS Real Estate Investment Trust III Reports Significant NAV Growth

The board of KBS Real Estate Investment Trust III Inc., a publicly registered non-traded REIT, have approved an estimated net asset value of $11.73 per share of the company’s common stock, as of September 30, 2017.

The new NAV per share is an increase of 10.3 percent compared to last year’s valuation of $10.63 per share, primarily due to higher appraised values of real estate properties and capital expenditures.

The valuation is based on the estimated value of the company’s assets less the estimated value of its liabilities, divided by the number of shares outstanding. Independent third-party firm Duff & Phelps LLC assisted with the valuation process which was performed in accordance with Investment Program Association guidelines, the company said.

Duff & Phelps estimated that the NAV per share range was $10.91 to $12.56, with a mid-range value of $11.73 per share.

KBS REIT III’s initial offering commenced in October 2010 and closed in July 2015 after raising approximately $1.8 billion. As of September 30, 2017, the company’s $3.2 billion portfolio was comprised of 28 office properties and one mixed-use office/retail property.

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