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Kilroy Realty Corporation Acquires Value-Add Opportunities in Two West Coast …

Fri, 27 Jul 2012 17:15:29 +0000

LOS ANGELES, Jul 26, 2012 (BUSINESS WIRE) –
Kilroy Realty Corporation

/quotes/zigman/171049/quotes/nls/krc KRC
+1.05%

continued its successful pursuit
of value-add office building opportunities in strongly growing West
Coast commercial centers, acquiring a rare development site on Brannan
Street in San Francisco’s SOMA district and a Class A office tower in
greater Seattle’s prestigious Bellevue community.

KRC said the development site transaction, which closed last week,
represents a unique opportunity to build a state-of the-art office
property amid one of downtown San Francisco’s most popular technology
and media corridors at a total investment cost notably below recent
prices paid by other purchasers for similar assets.

In the Seattle transaction, which closed this week, the company said it
has purchased a premium quality, multi-tenant office tower, located in a
popular high-density submarket that is now experiencing strong demand
growth, at a price comfortably below replacement cost. KRC said it plans
to significantly enhance the property with a capital improvement and
modernization program that will support both property specific and
market-based rental rate growth.

Brannan Street Development Site Details. KRC paid
approximately $18.5 million for the 0.82-acre development site, located
at 329 Brannan Street in San Francisco’s SOMA district. The site is
zoned for approximately 5.0 FAR coverage and the company intends to
build a six-level office building designed to appeal to the area’s
growing community of technology and media companies. It is KRC’s second
ground-up development project in Northern California.

The new building will be LEED Gold certified. Its design will reflect
the dominant brick and timber character of the neighborhood, similar to
properties at 301 and 250 Brannan Street, which KRC also owns and which
are both 100% leased. The new building’s design will incorporate open
floor plates, concrete floors, large windows to capture natural light,
and multiple common areas–all features popular with the area’s creative
workforce.

KRC expects to complete entitlements for the development site by
year-end 2013 and complete the building in 2015. The company estimates
the total cost of the project, including land, will be approximately $80
million.

Seattle High-Rise Acquisition Details. KRC paid
approximately $186 million for the 417,000 square-foot, 24-story, Class
A office tower known as Skyline Tower located in Bellevue, Washington.
The purchase price includes the assumption of an in-place mortgage of
approximately $84 million. The loan bears interest at a rate of 6.37%
and matures on April 1, 2013.

Skyline Tower is a LEED Silver certified property featuring spectacular
views of the Cascade and Olympic Mountains and Mount Rainier, and sits
in close proximity to Bellevue’s affluent residential and retail
neighborhoods. The property, which is two blocks from KRC’s Key Center
office tower, is currently 92% leased to a diverse tenant base that
includes technology companies Expedia and Valve Corporation.

About Kilroy Realty Corporation. Kilroy Realty
Corporation, a member of the SP Small Cap 600 Index, is a real estate
investment trust active in premier office and industrial submarkets
along the West Coast. For over 60 years, the company has owned,
developed, acquired and managed real estate assets, consisting primarily
of Class A real estate properties in the coastal regions of Los Angeles,
Orange County, San Diego, greater Seattle and the San Francisco Bay
Area. At March 31, 2012, the company owned 11.8 million rentable square
feet of commercial office space and 3.4 million rentable square feet of
industrial space. 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, results or events. 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, and with trends in the real
estate industry; competitive market conditions; the ability to complete
potential acquisitions and dispositions on announced terms; the ability
to successfully operate acquired properties; the availability of cash
for debt service and exposure of risk of default under debt obligations;
government regulations that may affect development, redevelopment and
use of properties; 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 risk
factors that could 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,
quarterly report on Form 10-Q for the quarter ended March 31, 2012, 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 date on which they are made. We assumes 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 it is required to do so
in connection with ongoing requirements under Federal securities laws.

SOURCE: Kilroy Realty Corporation


        Kilroy Realty Corporation
        Tyler H. Rose
        Executive Vice President
        and Chief Financial Officer
        310-481-8484
        or
        Michelle Ngo
        Vice President
        and Treasurer
        310-481-8581

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Article source: http://www.marketwatch.com/story/kilroy-realty-corporation-acquires-value-add-opportunities-in-two-west-coast-tech-and-media-centers-2012-07-26

Kilroy Acquires CA Office Space

Mon, 26 Sep 2011 12:44:45 +0000

Kilroy Realty Corp. (NYSE:KRC), a real estate investment trust (REIT), has recently acquired an office property in the South of Market district of San Francisco, as part of its long-term strategy to own high-quality assets at below-replacement cost prices in areas that provide strong near-term cash flows and attractive long-term appreciation potential. The company further intends to make certain renovations to the acquired property over time to enhance its value.

Kilroy purchased ‘201 Third Street’ – a 311,455 square foot 12-story office property, for $103.3 million. The building, currently 90% occupied, is strategically located adjacent to the Moscone Center – the largest convention and exhibition complex in the region. In addition, the property offers amenities such as higher finished ceilings, increased natural light and collaborative meeting areas, which are expected to better suit the demands of technology and media tenants of the region.

Furthermore, the property offers superior communication facilities such as the Caltrain – a California commuter rail line on the San Francisco Peninsula and in the Santa Clara Valley (Silicon Valley) in the U.S.; Bay Area Rapid Transit (BART) – a rapid transit system serving the San Francisco Bay Area; and the new Transbay Transit Center – a transportation complex in San Francisco.

With the latest transaction, Kilroy has acquired six office properties year to date in key West Coast submarkets. The aggregate cost of transaction for the purchase of approximately 1.5 million square feet of office space was $516 million. The company is also presently under various stages of negotiation to acquire three more properties for about $163 million.

Kilroy owns, develops and manages a diverse portfolio of office, industrial and multi-purpose real estate properties primarily in the coastal regions of Los Angeles, Orange County, San Diego, greater Seattle and the San Francisco Bay Area. As of June 30, 2011, the company owned 11.5 million rentable square feet of commercial office space and 3.6 million rentable square feet of industrial space.

Kilroy maintains an active multi-year development program focused on the economically dynamic locations characterized by strong long-term demand, limited supply, and high barriers to entry. As such, most of the properties of the company are concentrated in the coastal submarkets of Southern California that offer both a vibrant economic backdrop for businesses and a unique quality of life for their employees.

Currently, we have a ‘Neutral’ recommendation and a Zacks #3 Rank on Kilroy that translates into a short-term ‘Hold’ rating. We also have a ‘Neutral’ recommendation and a Zacks #2 Rank (short-term ‘Buy’) for MPG Office Trust, Inc. (NYSE:MPG), a competitor of Kilroy.

KILROY REALTY (KRC): Free Stock Analysis Report

Article source: http://www.dailymarkets.com/stock/2011/09/21/kilroy-acquires-ca-office-space-2/

Kilroy Acquires CA Office Space

Mon, 26 Sep 2011 12:44:43 +0000

KILROY REALTY (KRC): Free Stock Analysis Report

Article source: http://www.dailymarkets.com/stock/2011/09/21/kilroy-acquires-ca-office-space-2/

P&F Triple Top Breakout – KRC, KYE, LDL, LNT, MFA

Mon, 16 May 2011 11:05:35 +0000

Kilroy Realty Corporation (NYSE:KRC) went up 0.42%, to close at $40.17 and its overall traded volume was 698,530.00 shares in the last trading session. KRC opened at $40.12 and is trading within the range of $39.81-$40.29. The 52-week range of the stock is $27.21 – $42.41. KRC’s market capitalization is $2.35B and it has 58.46M outstanding shares.Kilroy Realty Corporationis a self-administered real estate investment trust (REIT) engaged in office and industrial submarkets along the West Coast. The Company owns, develops, acquires and manages primarily Class A real estate assets in the coastal regions of Los Angeles, Orange County, San Diego, greater Seattle and the San Francisco Bay Area. As of December 31, 2010, its stabilized portfolio consisted of the office buildings (the Office Properties) and industrial buildings (the Industrial Properties). As of December 31, 2010, all but one of its properties was located in California. The Company owns its interests in all of its Office Properties and Industrial Properties through the Kilroy Realty, L.P. (Operating Partnership) and Kilroy Realty Finance Partnership, L.P. (the Finance Partnership). During the year ended December 31, 2010, it acquired 2385 Northside Drive San Diego, CA, 303 Second Street San Francisco, CA and 999 Town Country Orange, CA.

Kayne Anderson Energy Total Return Fund (NYSE:KYE) percentage change dropped -0.91%, to close at $28.45 and its overall traded volume was 94,752.00 shares in the last trading session. KYE opened at $28.67 and is trading within the range of $28.37-$28.77. The stock has a 52 week range of $20.70 – $31.99. At current market price, the market capitalization of the company stands at $981.30M and it has 34.49M outstanding shares.Kayne Anderson Energy Total Return Fund, Inc. (the Fund) is a non-diversified, closed-end fund. The Fund’s investment objective is to obtain a high total return with an emphasis on current income by investing primarily in securities of companies engaged in the energy industry. The Fund’s investments include master limited partnerships (MLPs) and limited liability companies taxed as partnerships MLP affiliates, the United States and Canadian royalty trusts and income trusts (collectively, royalty trusts), marine transportation companies, and other companies that derive at least 50% of their revenues from operating assets used in, or providing energy-related services for, the exploration, development, production, gathering, transportation, processing, storing, refining, distribution, mining or marketing of natural gas, natural gas liquids, crude oil, refined petroleum products or coal. The Fund’s investment advisor is KA Fund Advisors, LLC.

Lydall, Inc. (NYSE:LDL) fell -2.76%, to close at $10.55 and its overall traded volume was 48,910.00 shares in the last trading session. LDL opened at $10.88 and is trading within the range of $10.54-$11.18. The 52-week range of the stock is $6.51 – $11.39. The market capitalization of the company stands at $180.98M and it has 17.15M outstanding shares.Lydall, Inc. (Lydall) together with its subsidiaries, designs and manufactures specialty engineered filtration media, industrial thermal insulating solutions, automotive thermal and acoustical barriers, temperature-control equipment, medical filtration media and devices, and biopharmaceutical processing components for demanding thermal/acoustical, filtration/separation and bio/medical applications. The Company operates in two segments: Performance Materials and Thermal/Acoustical. The Thermal/Acoustical segment includes the operations of Lydall’s automotive businesses. The Performance Materials segment includes the operations of the filtration and industrial thermal insulation businesses. All other businesses are included in other products and services (OPS). In July 2010, Lydall, Inc. sold its electrical papers product line targeted for the transformer industry, and licensed certain related manufacturing technologies, to WEIDMANN Electrical Technology, Inc.

Alliant Energy Corporation (NYSE:LNT) slid -0.61%, to close at $40.74 and its overall traded volume was 808,366.00 shares in the last trading session. LNT shares were trading within the range of $40.49-$41.14 while its opening price was $41.12. The 52-week range of the stock is $30.40 – $41.14. The market capitalization of the company stands at $4.52B and it has 110.94M outstanding shares.Alliant Energy Corporation (Alliant Energy) operates as a regulated investor-owned public utility holding company. The Company focuses to provide regulated electricity and natural gas service to approximately one million electric and approximately 412,000 natural gas customers in the Midwest through its two public utility subsidiaries. The subsidiaries of the Company include Iowa Railway and Light Corporation (IPL), Eastern Wisconsin Electric Company (WPL), Alliant Energy Resources, LLC (Resources) and Alliant Energy Corporate Services, Inc. (Corporate Services). IPL is a public utility engaged principally in the generation and distribution of electric energy and the distribution and transportation of natural gas in selective markets in Iowa and southern Minnesota. WPL is a public utility engaged principally in the generation and distribution of electric energy and the distribution and transportation of natural gas in selective markets in southern and central Wisconsin.

MFA Financial, Inc. (NYSE:MFA) percentage change fell -0.73%, to close at $8.16 and its overall traded volume was 2.14M shares in the last trading session. MFA opened at $8.24 and is trading within the range of $8.15-$8.24. The stock has a 52 week low of $6.79 and 52 week high of $8.64. The market capitalization of the company stands at $2.91B and it has 356.06M outstanding shares.MFA Financial, Inc. is engaged in the business of investing, on a leveraged basis, in residential Agency and Non-Agency mortgage-backed securities (MBS). It generates net income for distribution to its stockholders resulting from the difference between the interest and other income it earns on its investments and the interest expense it pays on the borrowings, which it uses to finance its leveraged investments and its operating costs.

Posted by Tom Walsh
on May 16 2011. Filed under Stocks.
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Article source: http://acovi.com/pf-triple-top-breakout-krc-kye-ldl-lnt-mfa/225173/

Kilroy Completes Secondary Offering

Wed, 13 Apr 2011 03:23:35 +0000

Kilroy Realty Corp. (KRC – Snapshot Report), a real estate investment trust (REIT), has recently closed its secondary offering of over 6 million shares at $38.25 each. The equity offer included approximately 0.8 million shares sold to the underwriters to cover the over-allotment options.

The company had initially announced an equity offering 4.5 million shares along with an option of an additional 675,000 shares to cover any over-allotments. However, Kilroy was later forced to increase the offer due to strong investor demand.

The company raised net proceeds of $221.2 million from the equity offering, which it intends to contribute to its operating partnership Kilroy Realty, L.P. The operating partnership in turn would utilize a portion of the net proceeds to finance the $100 million acquisition of four office buildings in Kirkland, Washington. The remainder of the proceeds would be used to repay debt under the operating partnership’s unsecured revolving credit facility and for potential future acquisitions.

Kilroy owns, develops and manages a diverse portfolio of office, industrial and multi-purpose real estate properties primarily in the coastal regions of Los Angeles, Orange County, San Diego, greater Seattle and the San Francisco Bay Area. At December 31, 2010, the company owned 10.4 million rentable square feet of commercial office space and 3.6 million rentable square feet of industrial space.

Kilroy maintains an active multi-year development program focusing on the economically dynamic locations characterized by strong long-term demand, limited supply, and high barriers to entry. As such, most of the properties of the company are concentrated in the coastal submarkets of Southern California that offer both a vibrant economic backdrop for businesses and a unique quality of life for their employees.

Currently, we have a ‘Neutral’ recommendation and a Zacks #3 Rank on Kilroy that translates into a short-term ‘Hold’ rating. However, we have an ‘Underperform’ recommendation and a Zacks #5 Rank (short-term ‘Strong Sell’) for MPG Office Trust, Inc. (MPG – Snapshot Report), a competitor of Kilroy.

homesmillbrae.com » Greater Seattle

Kilroy Realty Corporation Acquires Value-Add Opportunities in Two West Coast …

Kilroy Acquires CA Office Space

Kilroy Acquires CA Office Space

P&F Triple Top Breakout – KRC, KYE, LDL, LNT, MFA

Kilroy Completes Secondary Offering

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