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Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2021

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2021

						Initial Cost																								Gross Amounts at Which Carried at Close of Period
Property Location						Encumb- rances						Land and Improve- ments						Buildings and Improve- ments						Costs Capitalized Subsequent  to Acquisition/ Improvement						Land and Improve- ments						Buildings and Improve- ments						Total						Accumulated Depreciation						Depreci- ation Life (1)						Date of Acquisition (A)/ Construction (C) (2)						Rentable Square Feet (3) (unaudited)
						($ in thousands)
Office Properties:
3101 - 3243 S. La Cienega Blvd., Culver City, CA												$	150,718					$	31,033					$	373					$	150,718					$	31,406					$	182,124					$	11,019					35						2019			A			151,908
2240 E. Imperial Highway, El Segundo, CA												1,044						11,763						29,602						1,048						41,361						42,409						29,440						35						1983			C			122,870
2250 E. Imperial Highway, El Segundo, CA												2,579						29,062						36,344						2,547						65,438						67,985						58,352						35						1983			C			298,728
2260 E. Imperial Highway, El Segundo, CA												2,518						28,370						36,805						2,547						65,146						67,693						20,796						35						1983			C			298,728
909 N. Pacific Coast Highway, El Segundo, CA												3,577						34,042						54,232						3,577						88,274						91,851						47,780						35						2005			C			244,880
999 N. Pacific Coast Highway, El Segundo, CA												1,407						34,326						17,998						1,407						52,324						53,731						29,513						35						2003			C			138,389
1350 Ivar Ave., Los Angeles, CA												1,575						—						14,192						1,575						14,192						15,767						470						35						2020			C			16,448
1355 Vine St., Los Angeles, CA												17,588						—						120,733						17,588						120,733						138,321						4,074						35						2020			C			183,129
1375 Vine St., Los Angeles, CA												15,578						—						102,725						15,578						102,725						118,303						3,475						35						2020			C			159,236
1395 Vine St., Los Angeles, CA												278						—						3,249						278						3,249						3,527						107						35						2020			C			2,575
1500 N. El Centro Ave., Los Angeles, CA (4)												9,235						21						59,075						9,235						59,096						68,331						14,287						35						2016			C			113,447
1525 N. Gower St., Los Angeles, CA (4)												1,318						3						9,745						1,318						9,748						11,066						1,877						35						2016			C			9,610
1575 N. Gower St., Los Angeles, CA (4)												22,153						51						119,573						22,153						119,624						141,777						19,165						35						2016			C			264,430
6115 W. Sunset Blvd., Los Angeles, CA (4)												1,313						3						17,127						2,455						15,988						18,443						3,417						35						2015			C			26,238
6121 W. Sunset Blvd., Los Angeles, CA (4)												11,120						4,256						44,014						8,703						50,687						59,390						10,397						35						2015			C			93,418
6255 W. Sunset Blvd., Los Angeles, CA												18,111						60,320						51,016						18,111						111,336						129,447						47,448						35						2012			A			323,920
3750 Kilroy Airport Way, Long Beach, CA												—						1,941						13,776						—						15,717						15,717						11,673						35						1989			C			10,718
3760 Kilroy Airport Way, Long Beach, CA												—						17,467						20,058						—						37,525						37,525						29,395						35						1989			C			166,761
3780 Kilroy Airport Way, Long Beach, CA												—						22,319						35,319						—						57,638						57,638						43,899						35						1989			C			221,452
3800 Kilroy Airport Way, Long Beach, CA												—						19,408						23,983						—						43,391						43,391						28,068						35						2000			C			192,476
3840 Kilroy Airport Way, Long Beach, CA												—						13,586						14,378						—						27,964						27,964						17,427						35						1999			C			136,026
3880 Kilroy Airport Way, Long Beach, CA												—						9,704						12,108						—						21,812						21,812						5,926						35						1997			A			96,923
3900 Kilroy Airport Way, Long Beach, CA												—						12,615						15,684						—						28,299						28,299						20,177						35						1997			A			130,935
Kilroy Airport Center, Phase IV, Long Beach, CA (5)												—						—						4,997						—						4,997						4,997						4,997						35						—						—
8560 W. Sunset Blvd., West Hollywood, CA												9,720						50,956						2,995						9,720						53,951						63,671						10,543						35						2016			A			76,359
8570 W. Sunset Blvd., West Hollywood, CA												31,693						27,974						6,935						31,693						34,909						66,602						5,523						35						2016			A			49,276
8580 W. Sunset Blvd., West Hollywood, CA												10,013						3,695						1,473						10,013						5,168						15,181						679						35						2016			A			6,875
8590 W. Sunset Blvd., West Hollywood, CA												39,954						27,884						5,428						39,954						33,312						73,266						5,678						35						2016			A			56,750
12100 W. Olympic Blvd., Los Angeles, CA						$163,435			(6)			352						45,611						21,147						9,633						57,477						67,110						32,649						35						2003			C			152,048
12200 W. Olympic Blvd., Los Angeles, CA									(6)			4,329						35,488						25,844						3,977						61,684						65,661						44,791						35						2000			C			150,832
12233 W. Olympic Blvd., Los Angeles, CA												22,100						53,170						6,030						22,100						59,200						81,300						18,217						35						2012			A			151,029
12312 W. Olympic Blvd., Los Angeles, CA									(6)			3,325						12,202						12,490						3,399						24,618						28,017						16,457						35						1997			A			76,644
1633 26th St., Santa Monica, CA												2,080						6,672						4,029						2,040						10,741						12,781						8,000						35						1997			A			43,857
2100/2110 Colorado Ave., Santa Monica, CA												5,474						26,087						14,910						5,476						40,995						46,471						29,054						35						1997			A			102,864

KILROY REALTY CORPORATION AND KILROY REALTY, L.P.

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION – (Continued)

December 31, 2021

						Initial Cost																								Gross Amounts at Which Carried at Close of Period
Property Location						Encumb- rances						Land and Improve- ments						Buildings and Improve- ments						Costs Capitalized Subsequent  to Acquisition/ Improvement						Land and Improve- ments						Buildings and Improve- ments						Total						Accumulated Depreciation						Depreci- ation Life (1)						Date of Acquisition (A)/ Construction (C) (2)						Rentable Square Feet (3) (unaudited)
						($ in thousands)
3130 Wilshire Blvd., Santa Monica, CA												8,921						6,579						17,261						9,188						23,573						32,761						18,444						35						1997			A			90,074
501 Santa Monica Blvd., Santa Monica, CA												4,547						12,044						17,544						4,551						29,584						34,135						20,812						35						1998			A			76,803
12225 El Camino Real, Del Mar, CA												1,700						9,633						3,968						1,673						13,628						15,301						10,023						35						1998			A			58,401
12235 El Camino Real, Del Mar, CA												1,507						8,543						9,979						1,540						18,489						20,029						11,991						35						1998			A			53,751
12340 El Camino Real, Del Mar, CA (7)												—						—						2,964						—						2,964						2,964						2,666						35						2002			C			—
12390 El Camino Real, Del Mar, CA												3,453						11,981						11,915						3,453						23,896						27,349						11,812						35						2000			C			69,421
12770 El Camino Real, Del Mar, CA												9,360						—						34,957						9,360						34,957						44,317						5,710						35						2015			C			75,035
12780 El Camino Real, Del Mar, CA												18,398						54,954						24,110						18,398						79,064						97,462						21,969						35						2013			A			140,591
12790 El Camino Real, Del Mar, CA												10,252						21,236						16,722						10,252						37,958						48,210						8,265						35						2013			A			87,944
12830 El Camino Real, Del Mar, CA												28,645						—						110,541						28,645						110,541						139,186						4,937						35						2021			C			196,444
12860 El Camino Real, Del Mar, CA												11,326						—						51,583						11,326						51,583						62,909						2,469						35						2021			C			92,042
12348 High Bluff Dr., Del Mar, CA												1,629						3,096						8,002						1,629						11,098						12,727						7,459						35						1999			C			39,193
12400 High Bluff Dr., Del Mar, CA												15,167						40,497						17,519						15,167						58,016						73,183						33,889						35						2004			C			210,732
3579 Valley Centre Dr., Del Mar, CA												2,167						6,897						11,146						2,858						17,352						20,210						10,907						35						1999			C			54,960
3611 Valley Centre Dr., Del Mar, CA												4,184						19,352						29,206						5,259						47,483						52,742						29,118						35						2000			C			132,425
3661 Valley Centre Dr., Del Mar, CA												4,038						21,144						20,058						4,725						40,515						45,240						25,962						35						2001			C			128,364
3721 Valley Centre Dr., Del Mar, CA												4,297						18,967						15,428						4,254						34,438						38,692						21,028						35						2003			C			115,193
3811 Valley Centre Dr., Del Mar, CA												3,452						16,152						21,589						4,457						36,736						41,193						25,136						35						2000			C			118,912
3745 Paseo Place, Del Mar, CA (Retail)												24,358						—						72,833						24,358						72,833						97,191						6,598						35						2019			C			95,871
13480 Evening Creek Dr. North, San Diego, CA												7,997						—						52,956						7,997						52,956						60,953						23,882						35						2008			C			154,157
13500 Evening Creek Dr. North, San Diego, CA												7,581						35,903						24,304						7,580						60,208						67,788						27,824						35						2004			A			143,749
13520 Evening Creek Dr. North, San Diego, CA												7,581						35,903						22,443						7,580						58,347						65,927						29,944						35						2004			A			143,654
2305 Historic Decatur Rd., Point Loma, CA												5,240						22,220						9,559						5,240						31,779						37,019						13,822						35						2010			A			107,456
4690 Executive Dr., University Towne Centre, CA												1,623						7,926						3,678						1,623						11,604						13,227						8,642						35						1999			A			47,846
9455 Towne Centre Dr., University Towne Centre, CA												6,081						—						80,294						6,081						80,294						86,375						2,456						35						2021			C			160,444
4100 Bohannon Dr., Menlo Park, CA												4,835						15,526						1,198						4,860						16,699						21,559						5,588						35						2012			A			47,379
4200 Bohannon Dr., Menlo Park, CA												4,798						15,406						5,552						4,662						21,094						25,756						7,394						35						2012			A			45,451
4300 Bohannon Dr., Menlo Park, CA												6,527						20,958						5,992						6,470						27,007						33,477						9,286						35						2012			A			63,079
4400 Bohannon Dr., Menlo Park, CA												4,798						15,406						3,919						4,939						19,184						24,123						7,011						35						2012			A			48,146
4500 Bohannon Dr., Menlo Park, CA												6,527						20,957						3,805						6,470						24,819						31,289						8,488						35						2012			A			63,078
4600 Bohannon Dr., Menlo Park, CA												4,798						15,406						4,105						4,939						19,370						24,309						7,168						35						2012			A			48,147
4700 Bohannon Dr., Menlo Park, CA												6,527						20,958						1,614						6,470						22,629						29,099						7,761						35						2012			A			63,078
1290 - 1300 Terra Bella Ave., Mountain View, CA												28,730						27,555						1,743						28,730						29,298						58,028						6,520						35						2016			A			114,175
680 E. Middlefield Rd., Mountain View, CA												34,755						—						56,759						34,755						56,759						91,514						13,689						35						2014			C			171,676

KILROY REALTY CORPORATION AND KILROY REALTY, L.P.

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION – (Continued)

December 31, 2021

						Initial Cost																								Gross Amounts at Which Carried at Close of Period
Property Location						Encumb- rances						Land and Improve- ments						Buildings and Improve- ments						Costs Capitalized Subsequent  to Acquisition/ Improvement						Land and Improve- ments						Buildings and Improve- ments						Total						Accumulated Depreciation						Depreci- ation Life (1)						Date of Acquisition (A)/ Construction (C) (2)						Rentable Square Feet (3) (unaudited)
						($ in thousands)
690 E. Middlefield Rd., Mountain View, CA												34,605						—						56,515						34,605						56,515						91,120						13,630						35						2014			C			171,215
1701 Page Mill Rd., Palo Alto, CA												—						99,522						29						—						99,551						99,551						15,008						35						2016			A			128,688
3150 Porter Dr., Palo Alto, CA												—						21,715						3,082						—						24,797						24,797						3,815						35						2016			A			36,886
900 Jefferson Ave., Redwood City, CA (8)												16,668						—						109,400						18,063						108,005						126,068						23,526						35						2015			C			228,505
900 Middlefield Rd., Redwood City, CA (8)												7,959						—						50,174						8,626						49,507						58,133						10,462						35						2015			C			118,764
100 Hooper St., San Francisco, CA												78,564						—						196,525						85,510						189,579						275,089						17,575						35						2018			C			417,914
100 First St., San Francisco, CA (9)												49,150						131,238						75,122						49,150						206,360						255,510						84,313						35						2010			A			480,457
303 Second St., San Francisco, CA (10)												63,550						154,153						105,065						63,550						259,218						322,768						109,983						35						2010			A			784,658
201 Third St., San Francisco, CA												19,260						84,018						75,015						19,260						159,033						178,293						74,496						35						2011			A			346,538
360 Third St., San Francisco, CA												—						88,235						125,655						28,504						185,386						213,890						60,597						35						2011			A			429,796
250 Brannan St., San Francisco, CA												7,630						22,770						10,239						7,630						33,009						40,639						12,929						35						2011			A			100,850
301 Brannan St., San Francisco, CA												5,910						22,450						16,673						5,910						39,123						45,033						12,198						35						2011			A			82,834
333 Brannan St., San Francisco, CA												18,645						—						80,811						18,645						80,811						99,456						13,704						35						2016			C			185,602
345 Brannan St., San Francisco, CA												29,405						113,179						819						29,403						114,000						143,403						10,254						35						2018			A			110,050
350 Mission St., San Francisco, CA												52,815						—						212,731						52,815						212,731						265,546						37,855						35						2016			C			455,340
345 Oyster Point Blvd., South San Francisco, CA												13,745						18,575						—						13,745						18,575						32,320						2,279						35						2018			A			40,410
347 Oyster Point Blvd., South San Francisco, CA												14,071						18,289						44						14,071						18,333						32,404						2,252						35						2018			A			39,780
349 Oyster Point Blvd., South San Francisco, CA												23,112						22,601						324						23,112						22,925						46,037						4,015						35						2018			A			65,340
350 Oyster Point Blvd., South San Francisco, CA												23,719						—						177,114						23,719						177,114						200,833						1,256						35						2021			C			234,892
352 Oyster Point Blvd., South San Francisco, CA												23,449						—						159,152						23,449						159,152						182,601						688						35						2021			C			232,215
354 Oyster Point Blvd., South San Francisco, CA												19,538						—						134,454						19,538						134,454						153,992						623						35						2021			C			193,472
505 Mathilda Ave., Sunnyvale, CA												37,843						1,163						50,450						37,943						51,513						89,456						10,707						35						2014			C			212,322
555 Mathilda Ave., Sunnyvale, CA												37,843						1,163						50,447						37,943						51,510						89,453						10,707						35						2014			C			212,322
599 Mathilda Ave., Sunnyvale, CA												13,538						12,559						78						13,538						12,637						26,175						4,972						35						2012			A			76,031
605 Mathilda Ave., Sunnyvale, CA												29,014						891						77,281						29,090						78,096						107,186						23,795						35						2014			C			162,785
601 108th Ave., Bellevue, WA (11)												—						214,095						84,890						42,680						256,305						298,985						98,849						35						2011			A			490,738
10900 NE 4th St., Bellevue, WA												25,080						150,877						50,023						25,080						200,900						225,980						71,570						35						2012			A			428,557
2001 W. 8th Ave., Seattle, WA												84,076						371,154						32						84,076						371,186						455,262						3,608						35						2021			A			539,226
701 N. 34th St., Seattle, WA												—						48,027						8,906						—						56,933						56,933						20,516						35						2012			A			141,860
801 N. 34th St., Seattle, WA												—						58,537						21,179						—						79,716						79,716						23,312						35						2012			A			173,615
837 N. 34th St., Seattle, WA												—						37,404						6,314						—						43,718						43,718						14,545						35						2012			A			112,487
320 Westlake Ave. North, Seattle, WA						85,588			(12)			14,710						82,018						14,747						14,710						96,765						111,475						26,804						35						2013			A			184,644
321 Terry Ave. North, Seattle, WA									(12)			10,430						60,003						10,633						10,430						70,636						81,066						20,627						35						2013			A			135,755
401 Terry Ave. North, Seattle, WA												22,500						77,046						13						22,500						77,059						99,559						20,457						35						2014			A			174,530

KILROY REALTY CORPORATION AND KILROY REALTY, L.P.

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION – (Continued)

December 31, 2021

						Initial Cost																								Gross Amounts at Which Carried at Close of Period
Property Location						Encumb- rances						Land and Improve- ments						Buildings and Improve- ments						Costs Capitalized Subsequent  to Acquisition/ Improvement						Land and Improve- ments						Buildings and Improve- ments						Total						Accumulated Depreciation						Depreci- ation Life (1)						Date of Acquisition (A)/ Construction (C) (2)						Rentable Square Feet (3) (unaudited)
						($ in thousands)
333 Dexter Ave. North, Seattle, WA												—						—						364,094						42,854						321,240						364,094						7,454						35						—			C			—
200 W. 6th St., Austin, TX												—						—						9,001						—						9,001						9,001						314						35						—			C			—
Residential Properties:
1550 N. El Centro Ave., Los Angeles, CA (4)												16,970						39						136,552						16,970						136,591						153,561						21,934						35						2016			C			—
6390 De Longpre Ave., Hollywood, CA												12,112						—						164,108						12,112						164,108						176,220						3,485						35						2021			C			—
3200 Paseo Village Way, Del Mar, CA												106,419						—						270,013						106,419						270,013						376,432						15,102						35						2020			C			—
TOTAL OPERATING PROPERTIES						249,023						1,597,281						3,036,949						4,641,337						1,731,982						7,543,585						9,275,567						2,003,656																		15,456,528
Undeveloped land and construction in progress						—						883,621						—						1,133,505						883,621						1,133,505						2,017,126						—																		—
TOTAL ALL PROPERTIES						$	249,023		(13)			$	2,480,902					$	3,036,949					$	5,774,842					$	2,615,603					$	8,677,090					$	11,292,693					$	2,003,656																	15,456,528

____________________

(1)The initial costs of buildings and improvements are depreciated over 35 years using a straight-line method of accounting; improvements capitalized subsequent to acquisition or development are depreciated over the shorter of the lease term or useful life, generally ranging from one to 20 years.

(2)Represents our date of construction or acquisition, or of our predecessor, the Kilroy Group.

(3)Represents the square footage of our stabilized portfolio.

(4)These properties include the allocated costs of a shared parking structure for a complex comprised of five office buildings and one residential tower.

(5)These costs represent infrastructure costs incurred in 1989. During the third quarter of 2009, we exercised our option to terminate the ground lease at Kilroy Airport Center, Phase IV in Long Beach, California. We had previously leased this land, which is adjacent to our office properties at Kilroy Airport Center, Long Beach, for potential future development opportunities.

(6)These properties secure a $163.4 million mortgage note.

(7)This property was taken out of the stabilized portfolio in the fourth quarter of 2021 for redevelopment in phases.

(8)These properties are owned by Redwood City Partners LLC, a consolidated property partnership.

(9)This property is owned by 100 First Street Member LLC, a consolidated property partnership.

(10)This property is owned by 303 Second Street Member LLC, a consolidated property partnership.

(11)The land underlying this property was acquired in 2021 (refer to Note 3 “Acquisitions” for additional information). Prior to the acquisition, the property was subject to a ground lease.

(12)These properties secure a $85.6 million mortgage note.

(13)Represents gross aggregate principal amount before the effect of the deferred financing costs of $0.7 million as of December 31, 2021.

As of December 31, 2021, the aggregate gross cost of property included above for federal income tax purposes approximated $9.1 billion.

The following table reconciles the historical cost of total real estate held for investment from January 1, 2019 to December 31, 2021:

			Year Ended December 31,
			2021						2020						2019
			(in thousands)
Total real estate held for investment, beginning of year			$	10,190,046					$	9,628,773					$	8,426,632
Additions during period:
Acquisitions			1,131,248						—						460,512
Improvements, etc.			547,468						645,170						890,654
Total additions during period			1,678,716						645,170						1,351,166
Deductions during period:
Cost of real estate sold			(572,985)						(44,070)						(120,788)
Other			(3,084)						(39,827)						(28,237)
Total deductions during period			(576,069)						(83,897)						(149,025)
Total real estate held for investment, end of year			$	11,292,693					$	10,190,046					$	9,628,773

The following table reconciles the accumulated depreciation from January 1, 2019 to December 31, 2021:

			Year Ended December 31,
			2021						2020						2019
			(in thousands)
Accumulated depreciation, beginning of year			$	1,798,646					$	1,561,361					$	1,391,368
Additions during period:
Depreciation of real estate			256,304						244,815						211,893
Total additions during period			256,304						244,815						211,893
Deductions during period:
Write-offs due to sale			(38,156)						(6,401)						(41,655)
Other			(13,138)						(1,129)						(245)
Total deductions during period			(51,294)						(7,530)						(41,900)
Accumulated depreciation, end of year			$	2,003,656					$	1,798,646					$	1,561,361

X

- References

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- Definition

The entire disclosure of real estate investments and associated accumulated depreciation for entities with a significant portion of their business acquiring and holding investment real estate.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 28

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 970
-SubTopic 360
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-28)
-URI http://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024

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