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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT: (DATE OF EARLIEST EVENT REPORTED) JANUARY 7, 1998
KILROY REALTY CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
COMMISSION FILE: 1-12675
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MARYLAND 95-4598246
(STATE OR OTHER JURISDICTION (I.R.S. EMPLOYER
OF INCORPORATION OR ORGANIZATION) IDENTIFICATION NO.)
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2250 EAST IMPERIAL HIGHWAY, SUITE 1200, EL SEGUNDO, CALIFORNIA, 90245
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (310) 563-5500
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On January 7, 1998, Kilroy Realty L.P., a partnership in which Kilroy Realty
Corporation is the sole general partner (collectively referred to herein as
the "Company"), completed the acquisition of an industrial building at a
purchase price of approximately $12,578,000, including estimated closing
costs. The property was acquired from Viking Investors of Southern California
II, a California limited partnership ("Viking Investors"), which is an
unaffiliated entity. The Company had previously acquired four properties from
Viking Investors in December 1997 (see Form 8-K filed on December 29, 1997).
The acquisition was financed with borrowings under the Company's credit
facility with a bank group led by Morgan Guaranty Trust Company of New York
and the purchase price was determined based on arms-length negotiations.
The industrial building is located in Irvine, California and contains
approximately 143,000 aggregate rentable square feet. The industrial building
is presently 100% occupied with an average monthly rent per square foot of
$0.67. The quoted market rental rate for comparable industrial buildings in
Irvine, California is $0.83 per square foot.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial statements of properties acquired.
The required financial statements for the acquired property will be filed
within 60 days.
(b) Pro forma financial information.
The required financial statements for the acquired property will be filed
within 60 days.
(c) Exhibits
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EXHIBIT
NO. DESCRIPTION
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*10.70 Purchase and Sale Agreement and Escrow Instructions, dated December
11, 1997, by and between Kilroy Realty, L.P. and Swede-Cal
Properties, Inc., Viking Investors of Southern California, L.P.
and Viking Investors of Southern California II, L.P.
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* Previously filed.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
KILROY REALTY CORPORATION
/s/ Ann Marie Whitney
Date: January 20, 1998 By __________________________________
---------------- Name: Ann Marie Whitney
Title: Vice-President and
Controller
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