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Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2023

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, 2023

						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					$	1,856					$	150,718					$	32,889					$	183,607					$	20,163					35						2019			A			166,207
2240 E. Imperial Highway, El Segundo, CA												1,044						11,763						29,928						1,048						41,687						42,735						31,759						35						1983			C			122,870
2250 E. Imperial Highway, El Segundo, CA												2,579						29,062						36,750						2,547						65,844						68,391						61,662						35						1983			C			298,728
2260 E. Imperial Highway, El Segundo, CA												2,518						28,370						37,076						2,547						65,417						67,964						25,231						35						2012			C			298,728
909 N. Pacific Coast Highway, El Segundo, CA												3,577						34,042						56,012						3,565						90,066						93,631						55,148						35						2005			C			244,880
999 N. Pacific Coast Highway, El Segundo, CA												1,407						34,326						18,722						1,407						53,048						54,455						33,803						35						2003			C			138,389
1350 Ivar Ave., Los Angeles, CA												1,575						—						14,193						1,575						14,193						15,768						1,282						35						2020			C			16,448
1355 Vine St., Los Angeles, CA												17,588						—						121,115						17,588						121,115						138,703						11,167						35						2020			C			183,129
1375 Vine St., Los Angeles, CA												15,578						—						103,942						15,578						103,942						119,520						9,536						35						2020			C			159,236
1395 Vine St., Los Angeles, CA												278						—						3,271						278						3,271						3,549						294						35						2020			C			2,575
1500 N. El Centro Ave., Los Angeles, CA (4)												9,235						21						61,932						9,235						61,953						71,188						17,709						35						2016			C			113,447
1525 N. Gower St., Los Angeles, CA (4)												1,318						3						9,768						1,318						9,771						11,089						2,570						35						2016			C			9,610
1575 N. Gower St., Los Angeles, CA (4)												22,153						51						119,769						22,153						119,820						141,973						26,547						35						2016			C			264,430
6115 W. Sunset Blvd., Los Angeles, CA (4)												1,313						3						17,409						2,455						16,270						18,725						5,545						35						2015			C			26,238
6121 W. Sunset Blvd., Los Angeles, CA (4)												11,120						4,256						44,167						8,703						50,840						59,543						13,304						35						2015			C			93,418
6255 W. Sunset Blvd., Los Angeles, CA												18,111						60,320						53,475						18,111						113,795						131,906						58,714						35						2012			A			332,100
3750 Kilroy Airport Way, Long Beach, CA												—						1,941						13,645						—						15,586						15,586						12,686						35						1989			C			10,718
3760 Kilroy Airport Way, Long Beach, CA												—						17,467						23,013						—						40,480						40,480						32,535						35						1989			C			166,761
3780 Kilroy Airport Way, Long Beach, CA												—						22,319						39,083						—						61,402						61,402						48,266						35						1989			C			221,452
3800 Kilroy Airport Way, Long Beach, CA												—						19,408						24,516						—						43,924						43,924						31,475						35						2000			C			192,476
3840 Kilroy Airport Way, Long Beach, CA												—						13,586						29,143						—						42,729						42,729						19,775						35						1999			C			138,441
3880 Kilroy Airport Way, Long Beach, CA												—						9,704						12,202						—						21,906						21,906						7,278						35						2013			C			96,923
3900 Kilroy Airport Way, Long Beach, CA												—						12,615						17,754						—						30,369						30,369						22,085						35						1997			A			130,935
8560 W. Sunset Blvd., West Hollywood, CA												9,720						50,956						7,497						9,720						58,453						68,173						14,898						35						2016			A			76,558
8570 W. Sunset Blvd., West Hollywood, CA												31,693						27,974						7,266						31,693						35,240						66,933						8,817						35						2016			A			49,276
8580 W. Sunset Blvd., West Hollywood, CA												10,013						3,695						1,828						10,013						5,523						15,536						1,558						35						2016			A			6,875
8590 W. Sunset Blvd., West Hollywood, CA												39,954						27,884						5,769						39,954						33,653						73,607						8,532						35						2016			A			56,750
12100 W. Olympic Blvd., Los Angeles, CA						$156,386			(5)			352						45,611						26,036						9,633						62,366						71,999						36,818						35						2003			C			155,679
12200 W. Olympic Blvd., Los Angeles, CA									(5)			4,329						35,488						27,917						3,977						63,757						67,734						49,193						35						2000			C			154,544
12233 W. Olympic Blvd., Los Angeles, CA												22,100						53,170						6,909						22,100						60,079						82,179						22,114						35						2012			A			156,746
12312 W. Olympic Blvd., Los Angeles, CA									(5)			3,325						12,202						12,671						3,399						24,799						28,198						19,563						35						1997			A			76,644
2100/2110 Colorado Ave., Santa Monica, CA												5,474						26,087						18,285						5,476						44,370						49,846						31,892						35						1997			A			104,853
501 Santa Monica Blvd., Santa Monica, CA												4,547						12,044						19,357						4,551						31,397						35,948						23,853						35						1998			A			78,509
12225 El Camino Real, Del Mar, CA												1,700						9,633						4,434						1,673						14,094						15,767						10,912						35						1998			A			58,401

KILROY REALTY CORPORATION AND KILROY REALTY, L.P.

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

December 31, 2023

						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)
12235 El Camino Real, Del Mar, CA												1,507						8,543						9,985						1,540						18,495						20,035						13,792						35						1998			A			53,751
12340 El Camino Real, Del Mar, CA												4,201						—						35,629						4,201						35,629						39,830						4,585						35						2022			C			109,307
12390 El Camino Real, Del Mar, CA												3,453						11,981						12,348						3,453						24,329						27,782						14,393						35						2000			C			73,238
12770 El Camino Real, Del Mar, CA												9,360						—						35,029						9,360						35,029						44,389						8,314						35						2016			C			75,035
12780 El Camino Real, Del Mar, CA												18,398						54,954						24,127						18,398						79,081						97,479						28,749						35						2013			A			140,591
12790 El Camino Real, Del Mar, CA												10,252						21,236						17,031						10,252						38,267						48,519						12,315						35						2013			A			87,944
12830 El Camino Real, Del Mar, CA						$375,000			(6)			28,645						—						113,007						28,645						113,007						141,652						12,713						35						2021			C			196,444
12860 El Camino Real, Del Mar, CA									(6)			11,326						—						51,844						11,326						51,844						63,170						6,012						35						2021			C			92,042
12348 High Bluff Dr., Del Mar, CA												1,629						3,096						8,504						1,629						11,600						13,229						8,741						35						1999			C			39,192
12400 High Bluff Dr., Del Mar, CA												15,167						—						49,456						15,167						49,456						64,623						11,382						35						2022			C			216,518
3579 Valley Centre Dr., Del Mar, CA												2,167						6,897						11,556						2,858						17,762						20,620						12,032						35						1999			C			54,960
3611 Valley Centre Dr., Del Mar, CA												4,184						19,352						29,641						5,259						47,918						53,177						33,359						35						2000			C			132,425
3661 Valley Centre Dr., Del Mar, CA												4,038						21,144						20,770						4,725						41,227						45,952						29,457						35						2001			C			131,662
3721 Valley Centre Dr., Del Mar, CA												4,297						18,967						17,124						4,254						36,134						40,388						23,912						35						2003			C			115,193
3811 Valley Centre Dr., Del Mar, CA												3,452						16,152						21,985						4,457						37,132						41,589						26,896						35						2000			C			118,912
3745 Paseo Place, Del Mar, CA (Retail)									(6)			24,358						—						75,649						24,358						75,649						100,007						11,192						35						2019			C			95,871
13480 Evening Creek Dr. North, San Diego, CA												7,997						—						67,178						7,997						67,178						75,175						27,665						35						2008			C			143,401
13500 Evening Creek Dr. North, San Diego, CA												7,581						35,903						25,140						7,580						61,044						68,624						34,020						35						2004			A			143,749
13520 Evening Creek Dr. North, San Diego, CA												7,581						35,903						25,728						7,580						61,632						69,212						36,164						35						2004			A			146,701
2100 Kettner Blvd., San Diego, CA												19,861						—						105,759						19,861						105,759						125,620						3,873						35						2022			C			206,527
2305 Historic Decatur Rd., San Diego, CA												5,240						22,220						10,816						5,240						33,036						38,276						16,858						35						2010			A			107,456
4690 Executive Dr., San Diego, CA (7)												—						—						6,880						—						6,880						6,880						408						35						1999			A			—
9455 Towne Centre Dr., San Diego, CA												6,081						—						80,080						6,081						80,080						86,161						7,363						35						2021			C			160,444
9514 Towne Centre Dr., San Diego, CA												4,928						—						47,563						4,928						47,563						52,491						685						35						2023			C			70,616
4100 Bohannon Dr., Menlo Park, CA												4,835						15,526						1,524						4,860						17,025						21,885						6,650						35						2012			A			47,643
4200 Bohannon Dr., Menlo Park, CA												4,798						15,406						8,370						4,662						23,912						28,574						9,495						35						2012			A			43,600
4300 Bohannon Dr., Menlo Park, CA												6,527						20,958						8,097						6,470						29,112						35,582						11,649						35						2012			A			63,430
4400 Bohannon Dr., Menlo Park, CA (8)												—						—						3,245						—						3,245						3,245						2,117						35						2012			A			—
4500 Bohannon Dr., Menlo Park, CA												6,527						20,957						4,782						6,470						25,796						32,266						10,623						35						2012			A			63,429
4600 Bohannon Dr., Menlo Park, CA												4,798						15,406						5,286						4,939						20,551						25,490						8,884						35						2012			A			48,413
4700 Bohannon Dr., Menlo Park, CA												6,527						20,958						1,576						6,470						22,591						29,061						9,106						35						2012			A			63,429
1290 - 1300 Terra Bella Ave., Mountain View, CA												28,730						27,555						13,461						28,730						41,016						69,746						9,462						35						2016			A			114,175
680 E. Middlefield Rd., Mountain View, CA												34,755						—						56,759						34,755						56,759						91,514						17,536						35						2014			C			171,676

KILROY REALTY CORPORATION AND KILROY REALTY, L.P.

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

December 31, 2023

						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						17,461						35						2014			C			171,215
1701 Page Mill Rd., Palo Alto, CA												—						99,522						111						—						99,633						99,633						21,015						35						2016			A			128,688
3150 Porter Dr., Palo Alto, CA												—						21,715						6,446						—						28,161						28,161						6,276						35						2016			A			36,886
900 Jefferson Ave., Redwood City, CA (9)												16,668						—						109,612						18,063						108,217						126,280						31,253						35						2015			C			228,505
900 Middlefield Rd., Redwood City, CA (9)												7,959						—						50,285						8,626						49,618						58,244						14,031						35						2015			C			118,764
100 Hooper St., San Francisco, CA												78,564						—						197,034						85,510						190,088						275,598						29,788						35						2018			C			417,914
100 First St., San Francisco, CA (10)												49,150						131,238						81,437						49,150						212,675						261,825						106,267						35						2010			A			480,457
303 Second St., San Francisco, CA (11)												63,550						154,153						116,103						63,550						270,256						333,806						134,337						35						2010			A			784,658
201 Third St., San Francisco, CA												19,260						84,018						78,410						19,260						162,428						181,688						94,189						35						2011			A			346,538
360 Third St., San Francisco, CA												—						88,235						127,866						28,504						187,597						216,101						74,839						35						2011			A			436,357
250 Brannan St., San Francisco, CA												7,630						22,770						10,773						7,630						33,543						41,173						15,259						35						2011			A			100,850
301 Brannan St., San Francisco, CA												5,910						22,450						16,987						5,910						39,437						45,347						15,826						35						2011			A			82,834
333 Brannan St., San Francisco, CA												18,645						—						80,643						18,645						80,643						99,288						18,703						35						2016			C			185,602
345 Brannan St., San Francisco, CA												29,405						113,179						1,260						29,403						114,441						143,844						16,912						35						2018			A			110,050
350 Mission St., San Francisco, CA												52,815						—						212,738						52,815						212,738						265,553						51,190						35						2016			C			455,340
345 Oyster Point Blvd., South San Francisco, CA												13,745						18,575						—						13,745						18,575						32,320						3,392						35						2018			A			40,410
347 Oyster Point Blvd., South San Francisco, CA												14,071						18,289						44						14,071						18,333						32,404						3,354						35						2018			A			39,780
349 Oyster Point Blvd., South San Francisco, CA												23,112						22,601						352						23,112						22,953						46,065						5,440						35						2018			A			65,340
350 Oyster Point Blvd., South San Francisco, CA												23,719						—						177,245						23,719						177,245						200,964						11,889						35						2021			C			234,892
352 Oyster Point Blvd., South San Francisco, CA												23,449						—						165,720						23,449						165,720						189,169						11,662						35						2021			C			232,215
354 Oyster Point Blvd., South San Francisco, CA												19,538						—						141,126						19,538						141,126						160,664						11,708						35						2021			C			193,472
505 Mathilda Ave., Sunnyvale, CA												37,843						1,163						50,450						37,943						51,513						89,456						13,584						35						2014			C			212,322
555 Mathilda Ave., Sunnyvale, CA												37,843						1,163						50,447						37,943						51,510						89,453						13,583						35						2014			C			212,322
599 Mathilda Ave., Sunnyvale, CA												13,538						12,559						71						13,538						12,630						26,168						5,800						35						2012			A			76,031
605 Mathilda Ave., Sunnyvale, CA												29,014						891						77,281						29,090						78,096						107,186						30,299						35						2014			C			162,785
601 108th Ave., Bellevue, WA												—						214,095						88,698						42,680						260,113						302,793						118,339						35						2011			A			490,738
10900 NE 4th St., Bellevue, WA												25,080						150,877						52,662						25,080						203,539						228,619						89,219						35						2012			A			428,557
2001 W. 8th Ave., Seattle, WA												84,076						371,154						3,216						84,076						374,370						458,446						29,772						35						2021			A			539,226
333 Dexter Ave. North, Seattle, WA												42,854						—						328,064						42,854						328,064						370,918						27,405						35						2022			C			618,766
701 N. 34th St., Seattle, WA												—						48,027						9,743						—						57,770						57,770						24,961						35						2012			A			141,860
801 N. 34th St., Seattle, WA												—						58,537						23,304						—						81,841						81,841						30,106						35						2012			A			173,615
837 N. 34th St., Seattle, WA												—						37,404						6,734						—						44,138						44,138						18,088						35						2012			A			112,487
320 Westlake Ave. North, Seattle, WA						81,308			(12)			14,710						82,018						15,064						14,710						97,082						111,792						33,902						35						2013			A			184,644
321 Terry Ave. North, Seattle, WA									(12)			10,430						60,003						10,779						10,430						70,782						81,212						25,693						35						2013			A			135,755
401 Terry Ave. North, Seattle, WA												22,500						77,046						32						22,500						77,078						99,578						24,632						35						2014			A			174,530

KILROY REALTY CORPORATION AND KILROY REALTY, L.P.

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

December 31, 2023

						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)
200 W. 6th St., Austin, TX												—						—						644,210						—						644,210						644,210						17,688						35						2023			C			758,975
Residential Properties:
1550 N. El Centro Ave., Los Angeles, CA (4)												16,970						39						137,456						16,970						137,495						154,465						30,007						35						2016			C			—
6390 De Longpre Ave., Hollywood, CA												12,112						—						162,908						12,112						162,908						175,020						12,788						35						2021			C			—
3200 Paseo Village Way, Del Mar, CA									(6)			106,419						—						270,807						106,419						270,807						377,226						30,561						35						2020			C			—
TOTAL OPERATING PROPERTIES						612,694						1,651,703						2,959,869						5,595,272						1,743,170						8,463,674						10,206,844						2,518,304																		17,044,128
Undeveloped land and construction in progress						—						913,363						—						1,121,441						913,363						1,121,441						2,034,804						—																		—
TOTAL ALL PROPERTIES						$	612,694		(13)			$	2,565,066					$	2,959,869					$	6,716,713					$	2,656,533					$	9,585,115					$	12,241,648					$	2,518,304																	17,044,128

____________________

(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 properties secure a $156.4 million mortgage note.

(6)These properties secure a $375.0 million mortgage note.

(7)This property was taken out of the stabilized portfolio in the first quarter of 2022 for redevelopment in phases.

(8)This property was taken out of the stabilized portfolio in the fourth quarter of 2022 for redevelopment.

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

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

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

(12)These properties secure a $81.3 million mortgage note.

(13)Represents gross aggregate principal amount before the effect of the deferred financing costs of $9.5 million as of December 31, 2023.

As of December 31, 2023, the aggregate gross cost of property included above for federal income tax purposes approximated $10.1 billion.

The following table reconciles the historical cost of total real estate held for investment from January 1, 2021 to December 31, 2023:

			Year Ended December 31,
			2023						2022						2021
			(in thousands)
Total real estate held for investment, beginning of year			$	11,732,183					$	11,292,693					$	10,190,046
Additions during period:
Acquisitions			—						40,033						1,131,248
Improvements, etc.			511,866						439,759						547,468
Total additions during period			511,866						479,792						1,678,716
Deductions during period:
Cost of real estate sold			—						(32,855)						(572,985)
Other			(2,401)						(7,447)						(3,084)
Total deductions during period			(2,401)						(40,302)						(576,069)
Total real estate held for investment, end of year			$	12,241,648					$	11,732,183					$	11,292,693

The following table reconciles the accumulated depreciation from January 1, 2021 to December 31, 2023:

			Year Ended December 31,
			2023						2022						2021
			(in thousands)
Accumulated depreciation, beginning of year			$	2,218,710					$	2,003,656					$	1,798,646
Additions during period:
Depreciation of real estate			300,119						287,799						256,304
Total additions during period			300,119						287,799						256,304
Deductions during period:
Write-offs due to sale			—						(19,114)						(38,156)
Other			(525)						(53,631)						(13,138)
Total deductions during period			(525)						(72,745)						(51,294)
Accumulated depreciation, end of year			$	2,518,304					$	2,218,710					$	2,003,656

X

- References

No definition available.

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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
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 28
-Publisher SEC

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 970
-SubTopic 360
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-28)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479438/970-360-S99-1

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