Kilroy Realty Completes $355 Million Portfolio Sale
2012年12月18日 - 7:26AM
ビジネスワイヤ(英語)
Kilroy Realty Corporation (NYSE: KRC) today announced that it
has closed the disposition of its entire industrial portfolio and
two small office projects, which in aggregate total approximately
3.7 million square feet. As part of the company’s capital recycling
strategy, the company sold 44 properties for gross proceeds of
approximately $355 million in two tranches to two institutional
buyers. The purchase price reflects strong investor demand for
well-located, well-leased, coastal assets. The company will
reinvest the proceeds into its expanding West Coast office
development program and anticipates recording an approximate $185
million gain on sale in the fourth quarter.
“These transactions reflect a milestone for the company as it
moves forward with its value creation strategy of acquiring,
repositioning, redeveloping and developing high quality office
space in the best West Coast markets,” said John Kilroy, Jr., the
company’s president and chief executive officer.
About Kilroy Realty Corporation. Kilroy Realty
Corporation, a member of the S&P Small Cap 600 Index, is a real
estate investment trust active in the office property sector along
the West Coast. For over 60 years, the company has owned,
developed, acquired and managed real estate assets primarily in the
coastal regions of Los Angeles, Orange County, San Diego, greater
Seattle and the San Francisco Bay Area. At September 30, 2012, the
company's stabilized office portfolio encompassed 12.7 million
rentable square feet. 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 in forward-looking statements, and
you should not rely on 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 forward-looking statements, including,
among others, risks associated with: investment in real estate
assets, which are illiquid; trends in the real estate industry;
significant competition, which may decrease the occupancy and
rental rates of properties; the ability to successfully complete
acquisitions and dispositions on announced terms; the ability to
successfully operate acquired properties; the availability of cash
for distribution and debt service and exposure of risk of default
under debt obligations; adverse changes to, or implementations of,
applicable laws, regulations or legislation; and the ability to
successfully complete development and redevelopment projects on
schedule and within budgeted amounts. These factors are not
exhaustive. 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
annual report on Form 10-K for the year ended December 31, 2011 and
our other filings with the Securities and Exchange Commission. All
forward-looking statements are based on information that was
available, and speak only, as of the date 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 required in connection with ongoing requirements under
Federal securities laws.
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