uploads/2015/12/C1-PROP1.png

Kilroy Realty Corporation: What Does it Do?

By

Updated

History of Kilroy Realty

Kilroy Realty Corporation (KRC) was founded in 1996 by John B. Kilroy Jr. Headquartered in Los Angeles, California, the company is structured as a REIT (real estate investment trust) and completed an initial public offering in 1997. The company is now the fourth-largest publicly traded office REIT in the United States and is a part of the S&P 400.

Article continues below advertisement

What does it do?

Kilroy Realty (KRC) is a self-administered and self-managed REIT. The company’s core business is the ownership of high-quality commercial properties. The company is primarily engaged in the ownership, development, acquisition, and management of real estate assets consisting primarily of class A properties. The company is mainly focused on premier office sub-markets along the West Coast.

Who are its competitors?

Kilroy Realty is one of the largest office REITs in the United States, with a market capitalization of $6 billion. The company competes for rental properties with a number of office REITs, other real estate companies, private real estate funds, financial institutions, pension trusts, and others. The competition for office leasing is mainly driven by factors such as the quality of properties and services provided to tenants, attractiveness of leasing terms, location, and reputation of the company operating the office properties.

Article continues below advertisement

Kilroy Realty’s major competitors in the office REIT space include Boston Properties (BXP), Alexandria Real Estate Equities (ARE), SL Green Realty (SLG), Douglas Emmett (DEI), BioMed Realty (BMR), Highwoods Properties (HIW), Equity Commonwealth (EQC), and Columbia Property Trust (CXP). The iShares Cohen & Steers REIT ETF (ICF) invests ~1.4% of its portfolio in Kilroy Realty.

Series content

Advertisement

More From Market Realist