CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Real estate:
Land	$ 292,971	$ 295,020
Buildings and improvements	2,087,990	2,013,857
Tenant origination and absorption costs	75,664	91,343
Total real estate held for investment, cost	2,456,625	2,400,220
Less accumulated depreciation and amortization	(502,556)	(425,228)
Total real estate held for investment, net	1,954,069	1,974,992
Real estate held for sale, net	74,874	200,629
Total real estate, net	2,028,943	2,175,621
Cash and cash equivalents	72,523	43,984
Restricted cash	5,288	5,288
Investment in an unconsolidated entity	233,592	253,371
Rents and other receivables, net	86,034	81,083
Above-market leases, net	449	566
Assets related to real estate held for sale, net	4,238	4,036
Prepaid expenses and other assets	73,258	74,978
Total assets	2,504,325	2,638,927
Notes payable, net
Notes payable, net	1,388,365	1,410,879
Notes payable related to real estate held for sale, net	0	49,000
Total notes payable, net	1,388,365	1,459,879
Accounts payable and accrued liabilities	55,814	71,381
Due to affiliate	8,626	7,886
Distributions payable	9,187	9,392
Below-market leases, net	6,116	8,668
Liabilities related to real estate held for sale, net	874	1,286
Other liabilities	90,584	43,421
Total liabilities	1,559,566	1,601,913
Commitments and contingencies (Note 13)
Redeemable common stock	46,723	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, 184,249,076 and 180,970,743 shares issued and outstanding as of December 31, 2020 and 2019, respectively	1,842	1,810
Additional paid-in capital	1,641,184	1,600,416
Cumulative distributions in excess of net income	(744,990)	(617,171)
Total KBS Real Estate Investment Trust III, Inc. stockholders’ equity	898,036	985,055
Noncontrolling interest	0	255
Total equity	898,036	985,310
Total liabilities and equity	$ 2,504,325	$ 2,638,927