LOS ANGELES–(BUSINESS WIRE)–Kilroy Realty Corporation (NYSE: KRC, the “company”, “Kilroy”) announced today it will host an invitation-only Investor Event on Monday, November 14, 2022 at Kilroy Oyster Point in South San Francisco.

The presentation will be broadcast live beginning at approximately 12:00 pm Pacific Time and ending at approximately 2:00 pm Pacific Time. The live audio cast can be accessed from the company’s website at, https://investors.kilroyrealty.com/investors/shareholders/investor-events/default.aspx where a replay will also be available following the presentation.

About Kilroy Realty Corporation

Kilroy Realty Corporation (NYSE: KRC, the “company”, “Kilroy”) is a leading US landlord and developer, with operations in San Diego, Greater Los Angeles, the San Francisco Bay Area, the Pacific Northwest and Austin, Texas. The company has earned global recognition for sustainability, building operations, innovation and design. As pioneers and innovators in the creation of a more sustainable real estate industry, the company’s approach to modern business environments helps drive creativity and productivity for some of the world’s leading technology, entertainment, life science and business services companies.

The company is a publicly traded real estate investment trust (“REIT”) and member of the S&P MidCap 400 Index with more than seven decades of experience developing, acquiring and managing office, life science and mixed-use projects.

As of September 30, 2022, Kilroy’s stabilized portfolio totaled approximately 16.2 million square feet of primarily office and life science space that was 90.8% occupied and 92.6% leased. The company also had more than 1,000 residential units in Hollywood and San Diego, which had a quarterly average occupancy of 93.5%. In addition, the company had one in-process life science redevelopment project with a total estimated redevelopment cost of $25.0 million, totaling approximately 52,000 square feet, and three in-process development projects with an estimated total investment of $1.7 billion, totaling approximately 1.7 million square feet of office and life science space. The in-process development and redevelopment office and life science space is 36% leased.

A Leader in Sustainability and Commitment to Corporate Social Responsibility

The company is listed on the Dow Jones Sustainability World Index and has been recognized by industry organizations around the world. GRESB has named Kilroy a listed sustainability leader for Office in the Americas for eight of the last ten years. Other honors have included the National Association of Real Estate Investment Trusts’ (NAREIT) Leader in the Light award for eight consecutive years and ENERGY STAR Partner of the Year for nine years as well as ENERGY STAR’s highest honor of Sustained Excellence, for the past seven years.

Kilroy is proud to have achieved carbon neutral operations across our portfolio since 2020. The company’s office portfolio was 71% LEED certified and 40% Fitwel certified, and 76% of eligible properties were ENERGY STAR certified as of September 30, 2022.

A big part of the company’s foundation is its commitment to enhancing employee growth, satisfaction and wellness while maintaining a diverse and thriving culture. For the third year in a row, the company has been named to Bloomberg’s Gender Equality Index—recognizing companies committed to supporting gender equality through policy development, representation, and transparency.

More information is available at http://www.kilroyrealty.com.

Forward-looking statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated or implied in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: global market and general economic conditions, including periods of heightened inflation, and their effect on our liquidity and finance conditions and those of our tenants; adverse economic or real estate conditions generally, and specifically, in the States of California, Texas and Washington; risks associated with our investment in real estate assets, which are illiquid, and with trends in the real estate industry; defaults on or non-renewal of leases by tenants; any significant downturn in tenants’ businesses; our ability to re-lease property at or above current market rates; costs to comply with government regulations, including environmental remediation; the availability of cash for distribution and debt service and exposure to risk of default under debt obligations; increases in interest rates and our ability to manage interest rate exposure; the availability of financing on attractive terms or at all, which may adversely impact our future interest expense and our ability to pursue development, redevelopment and acquisition opportunities and refinance existing debt; a decline in real estate asset valuations, which may limit our ability to dispose of assets at attractive prices or obtain or maintain debt financing, and which may result in write-offs or impairment charges; significant competition, which may decrease the occupancy and rental rates of properties; potential losses that may not be covered by insurance; the ability to successfully complete acquisitions and dispositions on announced terms; the ability to successfully operate acquired, developed and redeveloped properties; the ability to successfully complete development and redevelopment projects on schedule and within budgeted amounts; delays or refusals in obtaining all necessary zoning, land use and other required entitlements, governmental permits and authorizations for our development and redevelopment properties; increases in anticipated capital expenditures, tenant improvement and/or leasing costs; defaults on leases for land on which some of our properties are located; adverse changes to, or enactment or implementations of, tax laws or other applicable laws, regulations or legislation, as well as business and consumer reactions to such changes; risks associated with joint venture investments, including our lack of sole decision-making authority, our reliance on co-venturers’ financial condition and disputes between us and our co-venturers; environmental uncertainties and risks related to natural disasters; our ability to maintain our status as a REIT; and uncertainties regarding the impact of the COVID-19 pandemic, and restrictions intended to prevent its spread, on our business and the economy generally. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our quarterly report on Form 10-Q for the period ending September 30, 2022 and in our annual report on Form 10-K for the year ended December 31, 2021 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the dates on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.

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Kilroy Realty Corp. KRC, -0.42% announced an agreement to sell 16 office properties in San Francisco for $ 1.08 billion on Monday. At $ 1,440 per square foot, the real estate investment trust said realtors have reported that the selling price per square foot is the highest for a large property in the San Francisco commercial real estate market. Kilroy began developing The Exchange in 2015 at a total cost of $ 585 million, or $ 780 per square foot. In 2017, Dropbox Inc. signed DBX, + 1.52%, a 15-year lease for the entire office portion of the property. Kilroy’s stock, which was still inactive in pre-trading hours, is up 4.9% over the past three months, while the SPDR Real Estate Select Sector ETF XLRE is up 0.1% and the S&P 500 is up 0.47% SPX rose + 0.75% to 3.8%.

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THE ANGEL–(BUSINESS WIRE) – Kilroy Realty Corporation (NYSE: KRC) announced today that after successfully leasing Kilroy Oyster Point Phase 1, it has begun construction on the second phase of its five-phase, 50-acre, 3-million-square-foot development project in South San Francisco, the West Coast’s largest, most dynamic community of life science companies and research institutions. Kilroy Oyster Point Phase 2 (“KOP 2”) comprises approximately 860,000 square feet in three buildings with an estimated total investment of $ 940 million.

The design of KOP 2 reflects the unique amenities and outdoor spaces that the company is known for and that meet the needs of biotechnology and pharmaceutical rental companies. The second phase will house a variety of amenities that serve all phases and will include two stand-alone buildings that will house a state-of-the-art fitness facility, conference center, and multiple dining and beverage options. It will also feature numerous outdoor meeting areas, including a large amphitheater, benefiting from the project’s waterfront location and tenants’ desire for outdoor collaboration and recreational areas.

KRC acquired the full waterfront development area, Oyster Point, in 2018, pursuing a long-term strategy to significantly increase its life science activities, including building a pipeline of strategically located land locations for future development.

In addition to Kilroy Oyster Point, KRC has three San Diego locations eligible for more than 700,000 square feet of life science development, including the Santa Fe Summit along the Route 56 corridor and 9514 Towne Center Drive and 4690 Executive Drive located in the University submarket Towne Center. Since the demand for high-quality life science space in preferred sub-markets is driving vacancy rates to historic lows, the company is preparing plans for further development starts at these locations.

“Our long-term commitment to understanding and serving the needs of life science and healthcare tenants is now paying off,” said John Kilroy, KRC Chairman and CEO. “The industry is experiencing accelerated growth and investment, and its potential impact on large sectors of our global economy is still in its infancy. We are well positioned to work with some of the most innovative companies in the life science sector and drive our own growth at KRC for years to come. ”

About Kilroy Realty Corporation. Kilroy Realty Corporation (NYSE: KRC, the “Company”, “KRC”) is a leading West Coast rental company and developer with a large presence in San Diego, greater Los Angeles, the San Francisco Bay Area and the Pacific Northwest. The company has earned global recognition for sustainability, building operations, innovation and design. As a pioneer and innovator in creating a more sustainable real estate industry, the company’s modern business approach helps fuel creativity, productivity and retention for some of the world’s leading technology, entertainment, life science and business services companies.

KRC is a publicly traded Real Estate Investment Trust (“REIT”) and a member of the S&P MidCap 400 Index with more than seven decades of experience developing, acquiring and managing office, life science and mixed-use projects.

KRC’s stabilized portfolio comprises around 14,000,000 square feet of mainly office and life science space. In addition, the company currently has 1,000 residential units in Hollywood and San Diego. Additionally, as of March 31, 2021, KRC had five ongoing development projects with an estimated total investment of $ 1.5 billion covering approximately 1.8 million square feet of office and life science space. 88% of the office and life science space was let.

A leader in sustainability and commitment to corporate social responsibility

KRC is listed on the Dow Jones Sustainability World Index and has been recognized by industry organizations around the world. KRC’s stabilized portfolio was 67% LEED certified, 41% Fitwel certified, the highest of any NGO, and 71% of eligible properties were ENERGY STAR certified as of March 31, 2021.

The company has been recognized as the listed sustainability leader in America for six of the last seven years by GRESB, the Global Real Estate Sustainability Benchmark. Other awards include the Leader in the Light Award from the National Association of Real Estate Investment Trust (NAREIT) for six consecutive years and ENERGY STAR Partner of the Year for eight years, as well as the highest ENERGY STAR award for sustained excellence in the last six years.

A large part of the company’s foundation is a commitment to improving employee growth, satisfaction and wellbeing while maintaining a diverse and thriving culture. For the second year in a row, the company has been included in the Bloomberg Gender Equality Index, which recognizes companies committed to promoting gender equality through policy development, representation and transparency.

More information is available at http://www.kilroyrealty.com.

Forward-Looking Statements. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions and are not guarantees of future performance. By their nature, forward-looking statements are subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are beyond our control. Accordingly, actual performance, results and events could differ materially from those expressed or implied in any forward-looking statements and you should not rely on any forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those expressed in the forward-looking statements, including but not limited to: global market and general economic conditions and their effects on our liquidity and financial conditions and those of our tenants; adverse economic or real estate conditions in general, and particularly in the states of California and Washington; Risks associated with our investments in illiquid real estate investments and real estate industry trends; Failure or non-renewal of rental agreements by tenants; any significant decline in tenants’ businesses; our ability to sublet properties at or above current market prices; Regulatory compliance costs, including environmental remediation; the availability of cash for distribution and debt servicing and the risk of default on debt securities; Interest rate hikes and our ability to manage interest rate risk; the availability of financing on attractive terms or at all, which may adversely affect our future interest expenses and our ability to pursue development, redevelopment and acquisition opportunities and to refinance existing debt; a decline in real estate asset valuations, which may limit our ability to sell assets at attractive prices, obtain or maintain debt financing, and which may result in depreciation or impairment; significant competition that can reduce property occupancy and rental prices; potential losses that may not be covered by insurance; the ability to successfully complete acquisitions and divestitures on the terms announced; the ability to successfully operate acquired, developed and refurbished properties; the ability to successfully complete development and refurbishment projects on time and within budgeted amounts; Delays or denials in obtaining all necessary zoning, land use and other required permissions, government permits and permits for our development and redevelopment sites; Increases in expected capital expenditures, tenant improvement and / or leasing costs; Lease defaults on land on which some of our properties are located; adverse changes or adoption or implementation of tax laws or any other applicable law, regulation or statute, as well as business and consumer responses to such changes; Risks associated with joint venture investments, including our lack of sole decision-making power, our reliance on the financial condition of co-entrepreneurs, and disputes between us and our co-entrepreneurs; Environmental uncertainties and risks associated with natural disasters; our ability to maintain our REIT status; and uncertainties about the impact of the COVID-19 pandemic and restrictions intended to prevent it from spreading on our business and the economy in general. These factors are not intended to be exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially affect our business and financial performance, see the factors listed under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2020, as well as in our other filings at the stock exchange supervisory authority. All forward-looking statements are based on currently available information and only apply as of the date of their publication. We undertake no obligation to update any forward-looking statements made in this press release that become untrue as a result of subsequent events, new information, or otherwise, unless we are required to do so in connection with our ongoing requirements under federal securities laws.

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Kilroy Realty Receives Gold GUT Certification for the San Francisco Project

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