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Real estate industry

Kilroy Realty Corporation Closes Public Offering, Raising $221.2 Million

Strategic Insights

— 1 min read

Kilroy Realty Corporation (NYSE:KRC) has successfully closed its public offering of 6,037,500 shares, upsizing from the originally announced 4,500,000 shares. This deal includes 787,500 shares sold to the underwriters upon the exercise of their overallotment option. The net proceeds from the offering are approximately $221.2 million, according to a company press release. The company has filed a prospectus supplement with the Securities and Exchange Commission on April 7, 2011, which provides additional details on the offering and the company's use of proceeds.

Key Takeaways:

  • Kilroy Realty Corporation has completed a public offering of 6,037,500 shares, raising $221.2 million in net proceeds.
  • The offering was upsized from the originally announced 4,500,000 shares, with 787,500 shares sold to the underwriters.
  • The company has filed a prospectus supplement with the Securities and Exchange Commission on April 7, 2011, outlining its use of proceeds.
  • Kilroy Realty Corporation has a portfolio of over 14 million rentable square feet of commercial office and industrial space as of December 31, 2010.
  • The company operates in submarkets along the West Coast, including Los Angeles, Orange County, San Diego, Seattle, and the San Francisco Bay Area.
  • Forward-looking statements by the company are subject to various risk factors, including changes in general economic conditions and the company's ability to refinance its debt.

Statistics:

  • 6,037,500 shares of Kilroy Realty Corporation were sold in the public offering.
  • The net proceeds from the offering were approximately $221.2 million.
  • The company owns 10.4 million rentable square feet of commercial office space and 3.6 million rentable square feet of industrial space as of December 31, 2010.
  • The company operates in submarkets along the West Coast, covering a portfolio of over 14 million rentable square feet.

Sources:

  • Securities and Exchange Commission. "Kilroy Realty Corporation Prospectus Supplement." 7 April 2011.
  • Kilroy Realty Corporation. "Kilroy Realty Corporation Announces Closing of Public Offering." Press release, [undated].

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