Kilroy Realty Corporation (NYSE: KRC, "Kilroy") announced today
it will release first quarter 2022 financial results after the
market closes on Wednesday, April 27, 2022. The company will hold a
conference call to discuss the results at 10:00 a.m. PT / 1:00 p.m.
ET on Thursday, April 28, 2022.
To participate in the call by telephone, please dial (844)
200-6205 and enter access code 307670 five to 10 minutes prior to
the start time to allow time for registration. International
callers should dial (929) 526-1599 and enter the same access code.
In order to bypass speaking to the operator on the day of the call,
please pre-register anytime at
https://www.incommglobalevents.com/registration/q4inc/9125/q1-2022-kilroy-realty-corporation-earnings-conference-call/.
This call will be broadcast live over the Internet and can be
accessed on the Investor Relations section of Kilroy Realty’s
website at
https://investors.kilroyrealty.com/shareholders/investor-events/default.aspx.
A replay will also be available beginning April 28, 2022 through
May 5, 2022, by dialing (866) 813-9403 and entering access code
005135. International callers should dial (929) 458-6194 and enter
the same access code.
About Kilroy Realty Corporation
Kilroy Realty Corporation (NYSE: KRC, the “company”, “Kilroy”)
is a leading U.S. 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 December 31, 2021, Kilroy’s stabilized portfolio totaled
approximately 15.5 million square feet of primarily office and life
science space that was 91.9% occupied and 93.9% leased. The company
also had more than 1,000 residential units in Hollywood and San
Diego, which had a quarterly average occupancy of 88.9%. In
addition, the company had one 96,000 square foot in-process life
science redevelopment project with total estimated redevelopment
costs of $40.0 million and five in-process development projects
with an estimated total investment of $2.2 billion, totaling
approximately 2.6 million square feet of office and life science
space. The in-process development and redevelopment office and life
science space was 46% 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. The company’s stabilized portfolio was 73% LEED certified,
37% Fitwel certified, 79% of eligible office properties were ENERGY
STAR certified, and 100% of our eligible stabilized residential
units were ENERGY STAR certified as of December 31, 2021.
The company has been recognized by GRESB as the listed
sustainability leader in North America for eight of the last nine
years. Other honors have included the National Association of Real
Estate Investment Trust’s (NAREIT) Leader in the Light award for
eight consecutive years and ENERGY STAR Partner of the Year for
eight years as well as ENERGY STAR’s highest honor of Sustained
Excellence, for the past six years.
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 and their
effect on our liquidity and financial 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 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220404005947/en/
Eliott Trencher EVP, Chief Investment Officer, Interim Chief
Financial Officer and Treasurer (310) 481-8587 or Bill Hutcheson
SVP, Investor Relations and Capital Markets (415) 778-5678
Kilroy Realty (NYSE:KRC)
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