javascript – Parsing “key: value” format in which values can span multiple lines

So I’ve written a function which parses a fairly simple key-value pair syntax.
Each pair can span across multiple lines, as long as the value does not have a colon in it. If it does, then any new line must be preceded by three spaces. For each pair, I create an object with the key, the value, and the offset at which they appear (from the beginning of the string).

You can get a better idea of this syntax from the following image (keys in blue, values in green):

enter image description here

I thought about using regex, but seeing as I also need to keep track of the offsets for each item, and performance is extremely important – I thought it may be easier/more efficient to just use plain typescript. Here’s the function I came up with:

function parseTitlePageChunk(text: string):{key:string, value:string, keyoffset:number, valueoffset:number}() {
    console.time("pairs");
    let pairs = ();
    let potentialValue = ""; //keep track of a string which may be a key
    let potentialKey = ""; //keep track of a string which may be a value
    let potentialKeyOffset = 0;
    let potentialValueOffset = 0;
    let colonInLine = false;
    let forceValue = false; //true if a line starts with three spaces
    let spaceCounter = -1; //if the spaceCounter==-1 there's no more spaces at the beginning of the line
    for (let i = 0; i < text.length; i++) {
        let c = text(i);
        if (c == ':' && !colonInLine && !forceValue) {
            //We ran into a colon, promote the potential key to an actual one
            pairs.push({key: potentialKey, value:"", keyoffset:potentialKeyOffset, valueoffset:potentialValueOffset});
            potentialValue = ""; //reset the potential value
            potentialValueOffset = i+1; //reset the potential value offset
            colonInLine = true;
        }
        else if (c == 'n' && pairs.length > 0) {
            //we hit a new line, and there exists a previous key
            pairs(pairs.length - 1).value = potentialValue; //set the value of the previous key
            pairs(pairs.length - 1).valueoffset = potentialValueOffset;
            potentialValue += 'n';
            potentialKey = "n";
            potentialKeyOffset = i;
            colonInLine = false;
            forceValue = false;
            spaceCounter = 0;
        }
        else {
            if(spaceCounter!=-1 && c == ' '){
                spaceCounter++;
            }
            else{
                spaceCounter = -1;
            }
            potentialValue += c;
            potentialKey += c;
            if(spaceCounter>=3) forceValue=true;
        }
    }
    if (pairs.length > 0) {
        //add the last potential value as a key
        pairs(pairs.length - 1).value = potentialValue;
        pairs(pairs.length - 1).valueoffset = potentialValueOffset;
    }
    console.timeEnd("pairs");
    return pairs;
}

It works pretty flawlessly as far as I can tell, and seems quite efficient (it’s only iterating through the string once), but I also find it’s a little overcomplicated for what seems like a fairly simple task. However I can’t figure out how to simplify it any further. Thoughts?