CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Real estate:
Land	$ 306,871	$ 308,920
Buildings and improvements	2,144,959	2,092,928
Tenant origination and absorption costs	84,330	95,808
Total real estate held for investment, cost	2,536,160	2,497,656
Less accumulated depreciation and amortization	(504,815)	(444,299)
Total real estate held for investment, net	2,031,345	2,053,357
Real estate held for sale, net	0	122,264
Total real estate, net	2,031,345	2,175,621
Real estate loan receivable, net (allowance for credit losses of $680)	148,290	0
Total real estate and real estate-related investments, net	2,179,635	2,175,621
Cash and cash equivalents	34,402	43,984
Restricted cash	5,288	5,288
Investment in an unconsolidated entity	232,649	253,371
Rents and other receivables, net	90,522	83,446
Above-market leases, net	475	566
Prepaid expenses and other assets	81,709	76,651
Total assets	2,624,680	2,638,927
Liabilities and equity
Notes payable, net	1,492,125	1,459,879
Accounts payable and accrued liabilities	54,033	71,381
Due to affiliate	8,872	7,886
Distributions payable	9,142	9,392
Below-market leases, net	7,621	9,849
Other liabilities	89,582	43,526
Total liabilities	1,661,375	1,601,913
Commitments and contingencies (Note 12)
Redeemable common stock	78,370	51,704
KBS Real Estate Investment Trust III, Inc. stockholders’ equity
Preferred stock, $.01 par value per share; 10,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $.01 par value per share; 1,000,000,000 shares authorized, 183,416,278 and 180,970,743 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively	1,834	1,810
Additional paid-in capital	1,600,353	1,600,416
Cumulative distributions in excess of net income	(717,252)	(617,171)
Total KBS Real Estate Investment Trust III, Inc. stockholders’ equity	884,935	985,055
Noncontrolling interest	0	255
Total equity	884,935	985,310
Total liabilities and equity	$ 2,624,680	$ 2,638,927