Kilroy Realty Corporation

Kilroy Realty Corporation

Kilroy Realty Corporation

Overview
Date Founded

1996

Headquarters

12200 West Olympic Boulevard, Suite 200, Los Angeles, CA, 90064, USA

Type of Company

Public

Employees (Worldwide)

276

Industries

Real Estate
Industrial Machinery & Manufacturing
Real Estate Investment Trusts

Company Description

Kilroy Realty corp KRC has successfully operated in West Coast commercial real estate markets for more than six decades. We have built deep experience in the region serving its many dynamic economic centers across multiple business cycles and operating environments. Today, we operate a portfolio of high quality commercial properties totaling more than 12.5 million square feet that span top coastal market locations from Seattle to San Diego. We serve a broadly diversified roster of industries, including many of the region’s leading firms in technology, telecommunications, engineering, entertainment, healthcare, biotechnology, and professional services. A fully integrated real estate enterprise Our decades of experience have taught us the wisdom of mastering all the disciplines of our profession. KRC's core management capabilities encompass all aspects of real estate, including property and land acquisition, financing and property development, construction management, leasing and property operations, and long-term strategic portfolio development. This integrated approach to real estate ownership produces efficiencies throughout our enterprise. It also creates a sound base from which to navigate challenging conditions and capitalize on nascent opportunities that are both part of a normal real estate business cycle. In 1997, we became a publicly traded real estate investment trust. Our common stock trades on the New York Stock Exchange and, in 2001, was added to the S&P MidCap 400 Index. In 2010, our publicly traded debt securities were rated investment grade by Moody’s and Standard and Poor’s. Public ownership and investment grade debt ratings both enhance our access to a variety of financing sources at attractive rates, and supports our ability to fund growth while also maintaining a strong and flexible capital structure. A disciplined business strategy Operating in one of the most dynamic economic regions of the world has shaped our business strategy at KRC. Our primary goal is to deliver a steady stream of high quality, adaptable and productive work environments for the wide range of industries attracted to the vibrant economic centers dotting the west coast of the United States. We are opportunistic and disciplined in our approach to growth. We seek to capitalize on inflection points in a real estate cycle to add quality assets to our portfolio at substantial discounts to long-term value, through either acquisition or development. Since early 2010, we have significantly increased our asset base via acquisition, purchasing a variety of properties that meet our strict standards for quality, location, amenities and long-term appreciation potential, at what we consider to be at or near cyclically low prices. Our acquisition strategy targets two distinct opportunities: best-in-class properties that are unique and irreplaceable within their specific markets and selling at or below replacement value; and well-located, fundamentally sound properties that represent opportunities to substantially increase value over time via disciplined investment and/or improved property management and marketing. In today’s real estate environment, we continue to see and evaluate both types of acquisition opportunities. We also manage our portfolio of office properties to continually enhance its overall value. We regularly sell mature assets and recycle the capital into higher value properties, upgrading the quality of our portfolio while maintaining a healthy balance sheet and enhancing the potential returns we can generate for our shareholders. Strong and broad-based development experience When market conditions support it, we have a bias toward development, preferring to control the location, design and amenities of the properties we add to our portfolio. Such control can often produce a more appealing and functional property for our tenants and a better outcome for our shareholders. We maintain an active, multi-year development program, focusing on economically dynamic locations where anticipated long-term demand is strong, supply is habitually limited and barriers to entry are formidable. Typically this means the top coastal submarkets that offer both a vibrant economic backdrop for businesses and a unique quality of life for their employees.

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Executives & Employees

President & Chief Executive Officer

Chief Financial Officer, Secretary & Executive Vice President

Executive Vice President, Chief Investment Officer

Executive Vice President & Chief Operating Officer

Chief Accounting Officer, Senior Vice President & Controller

Executive Vice President, Asset Management

Executive Vice President, Development & Construction Services

Executive Vice President, Leasing & Business Development

Executive Vice President, Life Science

Owner

Board of Directors

President & Chief Executive Officer at Kilroy Realty Corporation

Co-Founder at Zuma Capital Management LLC

Founder at Hunt & Gather, Inc.

Managing Director at Dresner Investment Services, Inc.

Chief Executive Officer & Director at Abram Scientific, Inc.

Deputy Commissioner & President of MLS Business Ventures at Major League Soccer LLC

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Owners & Shareholders
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PGGM favors equity investments in North American and Europe and in sectors including financial services, raw materials, services and information technology. Their fixed-income portfolios primarily focus on European government bonds, but they also invest in US bonds and investment-grade credits. Their investment process begins with asset allocation and risk budgeting using VAR and RVAR. They then allocate markets, determine the investment style and select either an internal or an external manager. As a socially responsible investor, the firm pays close attention to the corporate governance practices of the companies in which they invest and exercises their shareholder rights by voting at their general meetings.

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DAM conducts in-house research and has a strong global research network. Their investment management philosophy is based on a mid-to-long-term perspective in which they try to identify hidden values which are not yet fully recognized in the market. The firm takes a balanced approach emphasizing both fundamental and quantitative analysis. DAM's basic assumption is that the market is not fully efficient and they employ a coherent investment process through organizational support at each phase of their 'Plan', 'Do' and 'Review' policy. They pursue stable excess mid-to long-term returns through suitable risk control, which they separate from investment management to ensure that the risk control system adequately monitors their investment process. The firm's research team analysts and portfolio managers discuss, evaluate and communicate market events and investment opinions, seeking to maximize portfolio performance. Company visits are important components of their bottom-up research process and are a primary source for their fundamental analysis.

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CenterSquare invests client assets in investments in value-added real estate. The firm and their respective operating partners seek to add value to properties by stabilizing, enhancing and/or creating a property's income stream while improving its appearance, overall physical condition and position in the marketplace. They typically invest in office, industrial, retail, multi-family, and hospitality property assets. CenterSquare's strategy is designed to anticipate market turning points in order to overweight or underweight property types and geographic regions. The selection of property types and geographic regions is supported by the firm's top-down economic and capital markets forecasts. They incorporate research on private and public capital markets, national and regional economic trends and regional real estate submarkets into analysis and decision making throughout all stages of the property investment lifecycle, including acquisition, financing, leasing and disposition.

Recent Transactions
Details Hidden

Kilroy Realty Corporation issued Common Stock

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Kilroy Realty Corporation issued USD Common Stock

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Kilroy Realty Corporation purchases San Francisco Flower Growers' Association

Transaction Advisors
Auditor

Advised onKilroy Realty Corporation issued Common Stock

Underwriter

Advised onKilroy Realty Corporation issued Common Stock

Underwriter

Advised onKilroy Realty Corporation issued USD Common Stock

Underwriter

Advised onKilroy Realty Corporation issued Common Stock

Managing Director

Advised onKilroy Realty Corporation issued Common Stock

Professional

Advised onKilroy Realty Corporation issued Common Stock

Advisors & Consultants
Legal Advisor

Chair, Executive Compensation & Employee Benefits Practice at O'Melveny & Myers LLP

Legal Advisor

Head, Los Angeles at Kilroy Realty Corporation

Legal Advisor

Partner, Chairman, GLUEE Department at Jeffer Mangels Butler & Mitchell LLP

Clients

Salesforce.com, Inc. provides enterprise cloud computing applications. It provides a comprehensive customer and collaboration relationship management service to businesses of all sizes and industries and also provides a technology platform for customers and developers to build and run applications. The company has designed and developed its applications to be easy-to-use and intuitive solutions that can be deployed rapidly, customized easily and integrated with other software applications. Salesforce.com offers its services on a subscription basis, primarily through its direct sales efforts and indirectly through partners. The company operates in one segment. It was founded by Marc Benioff, Parker Harris, Dave Moellenhoff, and Frank Dominguez in February 1999 and is headquartered in San Francisco, CA.

AT&T, Inc. is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following four segments: Communications, Warner Media, Latin America and Xandar. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally. The Warner Media segment develops, produces and distributes feature films, television, gaming and other content over various physical and digital formats. The Latin America segment provides entertainment and wireless services outside of the U.S. The Xandar segment provides advertising services. The company was founded in 1983 and is headquartered in Dallas, TX.

Amazon.com, Inc. engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North America-focused websites such as www.amazon.com and www.amazon.ca. The International segment offers retail sales of consumer products and subscriptions through internationally-focused websites. The Amazon Web Services segment involves in the global sales of compute, storage, database, and AWS service offerings for start-ups, enterprises, government agencies, and academic institutions. The company was founded by Jeffrey P. Bezos in July 1994 and is headquartered in Seattle, WA.

Key Stats and Financials As of 2018
Market Capitalization
$7.7B
Total Enterprise Value
$9.33B
Earnings Per Share
$2.55
Revenue
$748M
Net Profit
$256M
EBITDA
$439M
EBITDAMargin
58.7%
Total Debt
$2.93B
Total Equity
$4.2B
Enterprise Value Sales
12.48x
Debt TEV
0.31x
TEVNet Income
36.38x
Enterprise Value EBITDAOperating
21.25x
Three Year Compounded Annual Growth Rate Of Revenue
9.29%
Five Year Compounded Annual Growth Rate Of Revenue
10.21%
Non-Profit Donations & Grants
$1,000 - $4,999
2014
$1,000 - $4,999
2013
$1 - $500
2009
Political Donations
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