| Kilroy Realty Corporation | |||
| Ticker: | KRC | 2250 East Imperial Highway | |
| Exchange: | New York Stock Exchange | El Segundo, CA 90245 | |
| Industry: | Financial (SIC Code 6798) | ||
| Type of Shares: | Common Shares | Filing Date: | 11/5/96 | |
| U.S. Shares: | 12,500,000 | Offer Date: | 1/28/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $19.00 - $21.00 | |
| Primary Shares: | 12,500,000 | Offer Price: | $23.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.43 | |
| Offering Amount: | $250,000,000 | Selling: | $0.85 | |
| Expenses: | $4,541,000 | Reallowance: | $0.10 | |
| Shares Out After: | 10,913,835 |
| Manager | Tier | Phone |
| Prudential Securities Incorporated | Lead Manager | (212) 778-5420 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| J.P. Morgan Securities Inc. | Co-manager | (212) 648-0517 |
| Smith Barney Inc. | Co-manager | (212) 723-7300 |
| Issuer's Law Firm: | Latham & Watkins |
| Bank's Law Firm: | Kaye, Scholer, Fierman, Hays & Handler |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $38.48 | $14.84 | $16.70 | Assets: | $121.83 |
| Net Income: | -$1.13 | -$0.43 | -$3.85 | Curr Assets: | |
| EPS: | Liabilities: | $217.11 | |||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | Equity: | -$95.28 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a fully integrated REIT that has been formed to succeed to the business of the Kilroy Group. This business consists principally of a portfolio of Class A suburban office and industrial buildings in prime buildings in prime locations, primarily in Southern California and the Kilroy Group's real estate ownership, acquisition, development, leasing and management businesses which were established in Southern California in 1947. Upon the consummation of the Offering and the Formation Transactions, the company will own ten office properties encompassing an aggregate of approximately 1.5 million rentable square feet and nine Industrial Properties encompassing an aggregate of approximately 900,000 rentable square feet. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of existing mortgage and other indebtedness, for the purchase of the Acquisition Properties and for expenses of the Formation Transactions, expenses of the Financing, expenses of the Offering and as working capital. |