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Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2024

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, 2024

						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					$	3,946					$	150,718					$	34,979					$	185,697					$	24,483					35						2019			A			166,207
2240 E. Imperial Highway, El Segundo, CA												1,044						11,763						30,549						1,048						42,308						43,356						32,678						35						1983			C			122,870
2250 E. Imperial Highway, El Segundo, CA												2,579						29,062						37,806						2,547						66,900						69,447						62,771						35						1983			C			298,728
2260 E. Imperial Highway, El Segundo, CA												2,518						28,370						37,660						2,547						66,001						68,548						27,479						35						2012			C			298,728
909 N. Pacific Coast Highway, El Segundo, CA												3,577						34,042						56,884						3,565						90,938						94,503						58,445						35						2005			C			244,880
999 N. Pacific Coast Highway, El Segundo, CA												1,407						34,326						18,843						1,407						53,169						54,576						35,932						35						2003			C			138,389
1350 Ivar Ave., Los Angeles, CA												1,575						—						14,279						1,575						14,279						15,854						1,686						35						2020			C			16,448
1355 Vine St., Los Angeles, CA												17,588						—						120,284						17,588						120,284						137,872						14,689						35						2020			C			183,129
1375 Vine St., Los Angeles, CA												15,578						—						103,352						15,578						103,352						118,930						12,566						35						2020			C			159,236
1395 Vine St., Los Angeles, CA												278						—						3,261						278						3,261						3,539						388						35						2020			C			2,575
1500 N. El Centro Ave., Los Angeles, CA (4)												9,235						21						64,018						9,235						64,039						73,274						19,739						35						2016			C			113,447
1525 N. Gower St., Los Angeles, CA (4)												1,318						3						9,771						1,318						9,774						11,092						2,920						35						2016			C			9,610
1575 N. Gower St., Los Angeles, CA (4)												22,153						51						120,168						22,153						120,219						142,372						30,223						35						2016			C			264,430
6115 W. Sunset Blvd., Los Angeles, CA (4)												1,313						3						17,435						2,455						16,296						18,751						5,988						35						2015			C			26,238
6121 W. Sunset Blvd., Los Angeles, CA (4)												11,120						4,256						44,205						8,703						50,878						59,581						14,768						35						2015			C			93,418
6255 W. Sunset Blvd., Los Angeles, CA												18,111						60,320						56,481						18,111						116,801						134,912						63,863						35						2012			A			325,772
3750 Kilroy Airport Way, Long Beach, CA												—						1,941						13,679						—						15,620						15,620						13,303						35						1989			C			10,718
3760 Kilroy Airport Way, Long Beach, CA												—						17,467						24,129						—						41,596						41,596						33,855						35						1989			C			166,761
3780 Kilroy Airport Way, Long Beach, CA												—						22,319						41,111						—						63,430						63,430						50,720						35						1989			C			221,452
3800 Kilroy Airport Way, Long Beach, CA												—						19,408						25,730						—						45,138						45,138						33,291						35						2000			C			192,476
3840 Kilroy Airport Way, Long Beach, CA												—						13,586						30,210						—						43,796						43,796						22,382						35						1999			C			138,441
3880 Kilroy Airport Way, Long Beach, CA												—						9,704						12,848						—						22,552						22,552						7,944						35						2013			C			96,923
3900 Kilroy Airport Way, Long Beach, CA												—						12,615						21,523						—						34,138						34,138						23,230						35						1997			A			130,935
8560 W. Sunset Blvd., West Hollywood, CA												9,720						50,956						8,067						9,720						59,023						68,743						17,404						35						2016			A			76,359
8570 W. Sunset Blvd., West Hollywood, CA												31,693						27,974						7,277						31,693						35,251						66,944						10,491						35						2016			A			49,276
8580 W. Sunset Blvd., West Hollywood, CA												10,013						3,695						1,847						10,013						5,542						15,555						1,807						35						2016			A			6,875
8590 W. Sunset Blvd., West Hollywood, CA												39,954						27,884						6,162						39,954						34,046						74,000						9,816						35						2016			A			56,750
12100 W. Olympic Blvd., Los Angeles, CA						$152,668			(5)			352						45,611						27,407						9,633						63,737						73,370						39,243						35						2003			C			155,679
12200 W. Olympic Blvd., Los Angeles, CA									(5)			4,329						35,488						29,817						3,977						65,657						69,634						50,837						35						2000			C			154,544
12233 W. Olympic Blvd., Los Angeles, CA												22,100						53,170						7,029						22,100						60,199						82,299						24,095						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						21,030						35						1997			A			78,900
2100/2110 Colorado Ave., Santa Monica, CA												5,474						26,087						20,980						5,476						47,065						52,541						33,534						35						1997			A			104,853
501 Santa Monica Blvd., Santa Monica, CA												4,547						12,044						19,568						4,551						31,608						36,159						25,203						35						1998			A			78,509
12225 El Camino Real, Del Mar, CA												1,700						9,633						4,870						1,673						14,530						16,203						11,378						35						1998			A			58,401

KILROY REALTY CORPORATION AND KILROY REALTY, L.P.

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

December 31, 2024

						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						10,372						1,540						18,882						20,422						14,674						35						1998			A			53,751
12340 El Camino Real, Del Mar, CA												4,201						—						34,342						4,201						34,342						38,543						5,413						35						2022			C			109,307
12390 El Camino Real, Del Mar, CA												3,453						11,981						12,895						3,453						24,876						28,329						15,657						35						2000			C			73,238
12770 El Camino Real, Del Mar, CA												9,360						—						35,074						9,360						35,074						44,434						9,531						35						2016			C			75,035
12780 El Camino Real, Del Mar, CA												18,398						54,954						24,295						18,398						79,249						97,647						32,182						35						2013			A			140,591
12790 El Camino Real, Del Mar, CA												10,252						21,236						17,143						10,252						38,379						48,631						14,435						35						2013			A			87,944
12830 El Camino Real, Del Mar, CA						$375,000			(6)			28,645						—						113,154						28,645						113,154						141,799						16,697						35						2021			C			196,444
12860 El Camino Real, Del Mar, CA									(6)			11,326						—						51,970						11,326						51,970						63,296						7,822						35						2021			C			92,042
12348 High Bluff Dr., Del Mar, CA												1,629						3,096						9,084						1,629						12,180						13,809						9,465						35						1999			C			39,192
12400 High Bluff Dr., Del Mar, CA												15,167						—						49,940						15,167						49,940						65,107						13,021						35						2022			C			216,518
12707 High Bluff Dr., Del Mar, CA (7)												3,013						8,032						915						3,013						8,947						11,960						148						35						2024			A			59,245
12777 High Bluff Dr., Del Mar, CA (7)												3,013						6,134						687						3,013						6,821						9,834						115						35						2024			A			44,486
3579 Valley Centre Dr., Del Mar, CA												2,167						6,897						11,834						2,858						18,040						20,898						12,631						35						1999			C			54,960
3611 Valley Centre Dr., Del Mar, CA												4,184						19,352						29,673						5,259						47,950						53,209						35,382						35						2000			C			132,425
3661 Valley Centre Dr., Del Mar, CA												4,038						21,144						20,770						4,725						41,227						45,952						31,791						35						2001			C			131,662
3721 Valley Centre Dr., Del Mar, CA												4,297						18,967						18,378						4,254						37,388						41,642						24,813						35						2003			C			117,777
3811 Valley Centre Dr., Del Mar, CA												3,452						16,152						21,985						4,457						37,132						41,589						27,962						35						2000			C			118,912
3745 Paseo Place, Del Mar, CA (Retail)									(6)			24,358						—						76,146						24,358						76,146						100,504						13,728						35						2019			C			95,871
13480 Evening Creek Dr. North, San Diego, CA												7,997						—						67,507						7,997						67,507						75,504						31,255						35						2008			C			143,401
13500 Evening Creek Dr. North, San Diego, CA												7,581						35,903						25,885						7,580						61,789						69,369						36,868						35						2004			A			137,660
13520 Evening Creek Dr. North, San Diego, CA												7,581						35,903						28,348						7,580						64,252						71,832						38,951						35						2004			A			146,701
2100 Kettner Blvd., San Diego, CA												19,861						—						108,772						19,861						108,772						128,633						7,089						35						2022			C			212,423
2305 Historic Decatur Rd., San Diego, CA												5,240						22,220						11,932						5,240						34,152						39,392						18,231						35						2010			A			107,456
4690 Executive Dr., San Diego, CA (8)												—						—						20,929						1,624						19,305						20,929						713						35						1999			A			—
9455 Towne Centre Dr., San Diego, CA												6,081						—						79,595						6,081						79,595						85,676						9,798						35						2021			C			160,444
9514 Towne Centre Dr., San Diego, CA												4,928						—						47,756						4,928						47,756						52,684						2,069						35						2023			C			70,616
4100 Bohannon Dr., Menlo Park, CA												4,835						15,526						1,525						4,860						17,026						21,886						7,204						35						2012			A			47,643
4200 Bohannon Dr., Menlo Park, CA												4,798						15,406						8,364						4,662						23,906						28,568						10,605						35						2012			A			43,600
4300 Bohannon Dr., Menlo Park, CA												6,527						20,958						8,047						6,470						29,062						35,532						12,961						35						2012			A			63,430
4400 Bohannon Dr., Menlo Park, CA (9)												—						—						3,237						—						3,237						3,237						2,177						35						2012			A			—
4500 Bohannon Dr., Menlo Park, CA												6,527						20,957						5,795						6,470						26,809						33,279						11,874						35						2012			A			63,429
4600 Bohannon Dr., Menlo Park, CA												4,798						15,406						5,286						4,939						20,551						25,490						9,832						35						2012			A			48,413
4700 Bohannon Dr., Menlo Park, CA												6,527						20,958						1,576						6,470						22,591						29,061						9,755						35						2012			A			63,429

KILROY REALTY CORPORATION AND KILROY REALTY, L.P.

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

December 31, 2024

						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)
1290 - 1300 Terra Bella Ave., Mountain View, CA												28,730						27,555						13,130						28,730						40,685						69,415						11,591						35						2016			A			114,175
680 E. Middlefield Rd., Mountain View, CA												34,755						—						56,759						34,755						56,759						91,514						19,459						35						2014			C			171,676
690 E. Middlefield Rd., Mountain View, CA												34,605						—						56,515						34,605						56,515						91,120						19,376						35						2014			C			171,215
1701 Page Mill Rd., Palo Alto, CA												—						99,522						111						—						99,633						99,633						24,020						35						2016			A			128,688
3150 Porter Dr., Palo Alto, CA												—						21,715						6,446						—						28,161						28,161						7,582						35						2016			A			36,886
900 Jefferson Ave., Redwood City, CA (10)												16,668						—						109,620						18,063						108,225						126,288						35,124						35						2015			C			228,226
900 Middlefield Rd., Redwood City, CA (10)												7,959						—						64,606						8,626						63,939						72,565						16,538						35						2015			C			119,616
100 Hooper St., San Francisco, CA												78,564						—						197,034						85,510						190,088						275,598						35,842						35						2018			C			417,914
100 First St., San Francisco, CA (11)												49,150						131,238						84,007						49,150						215,245						264,395						115,810						35						2010			A			480,457
303 Second St., San Francisco, CA (12)												63,550						154,153						120,741						63,550						274,894						338,444						146,435						35						2010			A			784,658
201 Third St., San Francisco, CA												19,260						84,018						79,707						19,260						163,725						182,985						103,058						35						2011			A			346,538
360 Third St., San Francisco, CA												—						88,235						128,515						28,504						188,246						216,750						81,239						35						2011			A			436,357
250 Brannan St., San Francisco, CA												7,630						22,770						10,797						7,630						33,567						41,197						16,440						35						2011			A			100,850
301 Brannan St., San Francisco, CA												5,910						22,450						17,204						5,910						39,654						45,564						17,652						35						2011			A			82,834
333 Brannan St., San Francisco, CA												18,645						—						80,685						18,645						80,685						99,330						21,215						35						2016			C			185,602
345 Brannan St., San Francisco, CA												29,405						113,179						1,358						29,403						114,539						143,942						20,282						35						2018			A			110,050
350 Mission St., San Francisco, CA												52,815						—						212,742						52,815						212,742						265,557						57,855						35						2016			C			455,340
345 Oyster Point Blvd., South San Francisco, CA												13,745						18,575						1						13,745						18,576						32,321						3,948						35						2018			A			40,410
347 Oyster Point Blvd., South San Francisco, CA												14,071						18,289						44						14,071						18,333						32,404						3,905						35						2018			A			39,780
349 Oyster Point Blvd., South San Francisco, CA												23,112						22,601						352						23,112						22,953						46,065						6,145						35						2018			A			65,340
350 Oyster Point Blvd., South San Francisco, CA												23,719						—						177,042						23,719						177,042						200,761						17,251						35						2021			C			234,892
352 Oyster Point Blvd., South San Francisco, CA												23,449						—						165,497						23,449						165,497						188,946						17,361						35						2021			C			232,215
354 Oyster Point Blvd., South San Francisco, CA												19,538						—						141,041						19,538						141,041						160,579						17,349						35						2021			C			193,472
505 Mathilda Ave., Sunnyvale, CA												37,843						1,163						50,450						37,943						51,513						89,456						15,019						35						2014			C			212,322
555 Mathilda Ave., Sunnyvale, CA												37,843						1,163						50,447						37,943						51,510						89,453						15,018						35						2014			C			212,322
599 Mathilda Ave., Sunnyvale, CA												13,538						12,559						609						13,538						13,168						26,706						6,212						35						2012			A			76,031
605 Mathilda Ave., Sunnyvale, CA												29,014						891						77,281						29,090						78,096						107,186						33,548						35						2014			C			162,785
601 108th Ave., Bellevue, WA												—						214,095						90,414						42,680						261,829						304,509						127,395						35						2011			A			490,738
10900 NE 4th St., Bellevue, WA												25,080						150,877						55,231						25,080						206,108						231,188						98,543						35						2012			A			428,557
2001 W. 8th Ave., Seattle, WA												84,076						371,154						27,388						84,076						398,542						482,618						41,445						35						2021			A			535,395
333 Dexter Ave. North, Seattle, WA												42,854						—						328,064						42,854						328,064						370,918						37,737						35						2022			C			618,766
701 N. 34th St., Seattle, WA												—						48,027						12,145						—						60,172						60,172						27,052						35						2012			A			141,860
801 N. 34th St., Seattle, WA												—						58,537						23,824						—						82,361						82,361						33,635						35						2012			A			173,615
837 N. 34th St., Seattle, WA												—						37,404						7,354						—						44,758						44,758						19,792						35						2012			A			112,487
320 Westlake Ave. North, Seattle, WA						79,020			(13)			14,710						82,018						15,219						14,710						97,237						111,947						37,480						35						2013			A			184,644

KILROY REALTY CORPORATION AND KILROY REALTY, L.P.

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

December 31, 2024

						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)
321 Terry Ave. North, Seattle, WA									(13)			10,430						60,003						11,066						10,430						71,069						81,499						28,230						35						2013			A			135,755
401 Terry Ave. North, Seattle, WA												22,500						77,046						32						22,500						77,078						99,578						26,718						35						2014			A			174,530
200 W. 6th St., Austin, TX												—						—						654,578						—						654,578						654,578						38,398						35						2023			C			758,975
Residential Properties:
1550 N. El Centro Ave., Los Angeles, CA (4)												16,970						39						138,148						16,970						138,187						155,157						34,097						35						2016			C			—
6390 De Longpre Ave., Hollywood, CA												12,112						—						162,481						12,112						162,481						174,593						17,436						35						2021			C			—
3200 Paseo Village Way, Del Mar, CA									(6)			106,419						—						272,044						106,419						272,044						378,463						38,354						35						2020			C			—
TOTAL OPERATING PROPERTIES						606,688						1,657,729						2,974,035						5,717,807						1,750,820						8,598,751						10,349,571						2,824,616																		17,142,721
Undeveloped land and construction in progress						—						911,886						—						1,397,738						911,886						1,397,738						2,309,624						—																		—
TOTAL ALL PROPERTIES						$	606,688		(14)			$	2,569,615					$	2,974,035					$	7,115,545					$	2,662,706					$	9,996,489					$	12,659,195					$	2,824,616																	17,142,721

____________________

(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 $152.7 million mortgage note.

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

(7)These properties were acquired in the third quarter of 2024.

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

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

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

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

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

(13)These properties secure a $79.0 million mortgage note.

(14)Represents gross aggregate principal amount before the effect of the deferred financing costs of $8.5 million as of December 31, 2024.

As of December 31, 2024, the aggregate gross cost of property included above for federal income tax purposes approximated $10.4 billion.

The following table reconciles the historical cost of total real estate held for investment from January 1, 2022 to December 31, 2024:

			Year Ended December 31,
			2024						2023						2022
			(in thousands)
Total real estate held for investment, beginning of year			$	12,241,648					$	11,732,183					$	11,292,693
Additions during period:
Acquisitions			21,941						—						40,033
Improvements, etc.			400,880						511,866						439,759
Total additions during period			422,821						511,866						479,792
Deductions during period:
Cost of real estate sold			—						—						(32,855)
Other			(5,274)						(2,401)						(7,447)
Total deductions during period			(5,274)						(2,401)						(40,302)
Total real estate held for investment, end of year			$	12,659,195					$	12,241,648					$	11,732,183

The following table reconciles the accumulated depreciation from January 1, 2022 to December 31, 2024:

			Year Ended December 31,
			2024						2023						2022
			(in thousands)
Accumulated depreciation, beginning of year			$	2,518,304					$	2,218,710					$	2,003,656
Additions during period:
Depreciation of real estate			307,967						300,119						287,799
Total additions during period			307,967						300,119						287,799
Deductions during period:
Write-offs due to sale			—						—						(19,114)
Other			(1,655)						(525)						(53,631)
Total deductions during period			(1,655)						(525)						(72,745)
Accumulated depreciation, end of year			$	2,824,616					$	2,518,304					$	2,218,710

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
-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/1943274/2147478979/970-360-S99-1

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