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Kilroy Realty Corporation (NYSE: KRC), a proud member of the S&P MidCap 400 Index, is a prominent real estate investment trust (REIT) focusing on premier office submarkets along the West Coast. The company is actively engaged in owning, developing, acquiring, and managing real estate assets across key coastal regions, including Los Angeles, Orange County, San Diego, the San Francisco Bay Area, and greater Seattle, as well as Austin, Texas.
As of September 30, 2014, Kilroy Realty's stable portfolio boasted 105 office buildings, covering an impressive 13.5 million rentable square feet, with a remarkable occupancy rate of 94.1%. Today, the company has grown to manage approximately 17 million square feet of office space.
Kilroy Realty is renowned for its commitment to sustainable building practices and cutting-edge property management. The company is involved in numerous high-profile projects aimed at creating state-of-the-art office environments that meet the evolving needs of modern businesses. With a strategic focus on technology and innovation, Kilroy continues to set new benchmarks in the real estate sector.
Financially, Kilroy Realty has maintained a robust performance with steady revenue growth and strong asset management. Their extensive portfolio and strategic geographic locations make them a key player in the commercial real estate market.
For detailed information and the latest updates, visit their official website at kilroyrealty.com.
Kilroy Realty Corporation (NYSE: KRC) plans to release its second quarter 2021 financial results after market close on July 28, 2021, with a conference call scheduled for July 29, 2021, at 10:00 a.m. PT. The company, a leading U.S. REIT, manages a stabilized portfolio of approximately 14 million square feet primarily in office and life science spaces, with 88% leased. KRC is recognized for its sustainability efforts, with 67% of its portfolio LEED certified. The firm has five development projects totaling $1.5 billion, indicating continued growth potential.
Kilroy Realty Corporation (NYSE: KRC) announced agreements for three off-market acquisitions totaling approximately $670 million. The largest, Indeed Tower in Austin, Texas, valued at $580 million, aims to enhance earnings through lease-up opportunities and strengthen its tenant profile with a major technology tenant. Additionally, the company is acquiring a land site near its 2100 Kettner project in San Diego for $42 million and purchasing the ground lease for its Key Center in Bellevue for $47 million, which eliminates a future ground rent obligation.
Kilroy Realty Corporation (NYSE: KRC) has commenced construction on the second phase of its Kilroy Oyster Point project in South San Francisco, following the successful leasing of Phase 1. The second phase will encompass approximately 860,000 square feet across three buildings, with an estimated investment of $940 million. The development aims to provide unique amenities catering to the needs of biotechnology and pharmaceutical tenants. KRC has a significant footprint in life science real estate, with additional development plans in San Diego to meet growing demand.
Kilroy Realty Corporation (NYSE: KRC) announced a quarterly cash dividend of $0.50 per common share, payable on July 14, 2021, to stockholders of record as of June 30, 2021. This dividend corresponds to an annual rate of $2.00 per share. KRC is a prominent real estate investment trust (REIT) focused on sustainable development, boasting a portfolio of approximately 14.0 million square feet of primarily office and life science space, with significant certifications for sustainability.
Kilroy Realty Corporation (NYSE: KRC) announced that its San Diego office development at 9455 Towne Centre Drive has received LEED Platinum certification. This 160,000 square foot building, fully leased to a Fortune 50 tech company, features sustainable elements like a large solar array and water-efficient fixtures. Completed in January 2021, it enhances KRC's portfolio, which totals approximately 14 million square feet. The company has a strong sustainability track record, recognized by GRESB and other organizations for its initiatives in the real estate sector.
Kilroy Realty Corporation (NYSE: KRC) reported a strong first quarter for 2021, achieving net income of $497.6 million ($4.26 per share), bolstered by a $3.92 per share gain from property sales. Revenues rose to $235.6 million, despite a COVID-related charge. The company maintains robust liquidity of $2.6 billion and a stable occupancy rate of 91.5%. With $1.5 billion in development projects, 88% leased, and a positive guidance for FFO in Q2 of $0.80 to $0.86 per share, KRC demonstrates resilience amid challenges.
Kilroy Realty Corporation (NYSE: KRC) will announce its Q1 2021 financial results on April 28, 2021, after market close. A conference call to discuss the results is scheduled for April 29, 2021, at 10:00 a.m. PT. KRC's stabilized portfolio was 91.2% occupied and 94.3% leased as of December 31, 2020, with a total of 14.6 million square feet. The company emphasizes sustainability, having earned multiple recognitions, including being listed on the Dow Jones Sustainability World Index. The forward-looking statements indicate various risks impacting future performance.
Kilroy Realty Corporation (NYSE: KRC) announced the signing of a definitive agreement to sell its 750,000 square-foot office property, The Exchange on 16th, located in San Francisco, for $1.08 billion, marking a record high of approximately $1,440 per square foot in the city's commercial real estate market. The transaction, currently in escrow, is expected to close by the end of March. Proceeds will be allocated for development, acquisitions, and corporate purposes, including potential debt repayment and stock repurchases.
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