Kilroy Realty Completes $327 Mln Sale Of 13 San Diego Office Properties

(RTTNews) - Kilroy Realty Corp. (KRC) said Friday that it has completed the disposition of 13 San Diego office properties in two tranches for total gross proceeds of about $327 million.

In aggregate, the portfolio included 1.1 million square feet and was about 91% leased. As part of the company's capital recycling strategy, the company will reinvest the proceeds into its expanding West Coast office development program and other potential acquisition opportunities.

The sale of 4910 Directors Place occurred in December 2013 and the sale of 12 other office buildings located at 10020 Pacific Mesa Boulevard, 6055 Lusk Avenue, 5010 and 5005 Wateridge Vista Drive, 15435 and 15445 Innovation Drive, and 15051, 15073, 15231, 15253, 15333 and 15378 Avenue of Science occurred in early January 2014.