KBSR — what changed in the latest 10-Q
A section-by-section comparison of KBSR's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-14 vs the prior 10-Q · 2025-11-14
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +39 | −43 | ~42 | 46 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~5 | 2 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings, Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-14
As of May 14, 2026, we have $1.2 billion of loan maturities and required principal paydowns during the next 12 months. Our loan agreements require us to sell two properties in 2025 (which we have completed), three properties in 2026 (one of which we have completed) and up to three properties in 2027…
As of May 14, 2026, we have $1.2 billion of loan maturities and required principal paydowns during the next 12 months. As of March 31, 2026, we believe we were in compliance with the financial debt covenants under our notes payable. As of March 31, 2026, we did not meet one of the leasing requiremen…
Our loan agreements require us to sell two properties in 2025 (which we have completed), three properties in 2026 (one of which we have completed) and up to three properties in 2027. However, to qualify for extensions of two debt facilities in 2026, we must have entered into qualifying purchase and …
As of March 31, 2026, the estimated fair value of The Almaden was less than the outstanding mortgage debt that had a maturity date of May 1, 2026. Subsequent to March 31, 2026, the maturity date of The Almaden Mortgage Loan was further extended to August 1, 2026.
During the three months ended March 31, 2026, net cash provided by operating activities was $16.7 million. During the three months ended March 31, 2025, net cash used in operating activities was $5.7 million. Net cash provided by operating activities increased during the three months ended March 31,…
Text removed vs the prior filing · source: 10-Q · 2025-11-14
As of November 14, 2025, we have $790.0 million of loan maturities and required principal paydowns during the next 12 months and $175.5 million of loan maturities and required principal paydowns from November 14, 2026 through December 31, 2026. Our loan agreements require us to sell two properties i…
As of November 14, 2025, we have $790.0 million of loan maturities and required principal paydowns during the next 12 months and $175.5 million of loan maturities and required principal paydowns from November 14, 2026 through December 31, 2026. As of September 30, 2025, we believe we were in complia…
Our loan agreements require us to sell two properties in 2025 (which we have completed), two properties in 2026 and up to four properties in 2027. Selling real estate assets in the current market may result in a lower sale price than we would otherwise obtain. We may continue to evaluate raising cap…
During the nine months ended September 30, 2025 and 2024, net cash provided by operating activities was $3.5 million and $6.8 million, respectively. Net cash provided by operating activities decreased during the nine months ended September 30, 2025 primarily as a result of $6.6 million of interest r…
Additionally, pursuant to the Subordination Agreement, with respect to the disposition fees associated with the sale of Carillon, 515 Congress, Gateway Tech Center, 201 17th Street and Accenture Tower, our advisor agreed that the disposition fees will be reduced to not more than 0.65% of the contrac…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice