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Office REIT At Risk of Default Gets Loan Extension for Properties in California, Texas, Minnesota

KBS REIT III Extends $600 Million Loan Tied to Six Office Properties
The three-building office campus in Dallas' Preston Center with downtown Dallas in the background is part of an office portfolio backing a more than $600 million loan to KBS Real Estate Investment Trust III. (CoStar)
The three-building office campus in Dallas' Preston Center with downtown Dallas in the background is part of an office portfolio backing a more than $600 million loan to KBS Real Estate Investment Trust III. (CoStar)

A real estate investment trust has extended a loan totaling more than $600 million tied to six office properties in three U.S. states, including its home state of California, as well as Texas and Minnesota, giving the REIT more time to raise at least $100 million of new debt or equity or risk default.

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