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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15 (d)&nbsp;of </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>The Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>September&nbsp;11, 2013 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>KILROY REALTY
CORPORATION </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>KILROY REALTY, L.P. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Maryland (Kilroy Realty Corporation)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>001-12675 (Kilroy Realty Corporation)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>95-4598246 (Kilroy Realty Corporation)</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>Delaware (Kilroy Realty, L.P.)</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>000-54005 (Kilroy Realty, L.P.)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>95-4612685 (Kilroy Realty, L.P.)</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>incorporation)</B></P></TD>
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<TD VALIGN="top" ALIGN="center"><B>(Commission File Number)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(IRS Employer Identification No.)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>12200 W. Olympic Boulevard, Suite 200, Los Angeles, California 90064 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices) (Zip Code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (310)&nbsp;481-8400 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>N/A </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or
former address, if changed since last report.) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2.): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>ITEM&nbsp;7.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>REGULATION FD DISCLOSURE </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On September&nbsp;11, 2013, Kilroy Realty Corporation, or the Company, issued
a press release. A copy of the press release is furnished as Exhibit 99.1 to this report. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On September&nbsp;12, 2013, the Company issued a press release.
A copy of the press release is furnished as Exhibit 99.2 to this report. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information included in this Current Report on Form 8-K under this
Item&nbsp;7.01 (including Exhibit 99.1 and Exhibit 99.2 hereto) is being &#147;furnished&#148; and shall not be deemed to be &#147;filed&#148; for the purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended, or otherwise
subject to the liabilities of Section&nbsp;18, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by
specific reference in such filing. The information included in this Current Report on Form 8-K under this Item&nbsp;7.01 (including Exhibit 99.1 and 99.2 hereto) will not be deemed an admission as to the materiality of any information required to be
disclosed solely to satisfy the requirements of Regulation&nbsp;FD. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>ITEM&nbsp;8.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>OTHER EVENTS </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>A. Underwriting Agreement </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On September&nbsp;12, 2013, the Company and Kilroy Realty, L.P. (the &#147;Operating Partnership&#148;) entered into an underwriting agreement (referred to
herein as the &#147;Underwriting Agreement&#148;) with Barclays Capital Inc., Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith Incorporated, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, as representatives of the several underwriters
named therein, in connection with the public offering by the Company of up to 6,325,000 shares of its common stock, par value $0.01, including 825,000 shares which may be purchased at the option of the underwriters pursuant to the terms of the
Underwriting Agreement. A copy of the Underwriting Agreement is attached as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference. The opinion of Ballard Spahr LLP with respect to the validity of the shares in this
offering is filed herewith as Exhibit 5.1. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>B. Recent Developments </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following discussion provides information with respect to certain recent developments of the Company and the Operating Partnership. Unless otherwise
expressly stated or the context otherwise requires, &#147;we,&#148; &#147;us&#148; and &#147;our&#148; refer collectively to the Company, the Operating Partnership and the Company&#146;s other subsidiaries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Pending Acquisition.</I></B> We have entered into a purchase and sale agreement to purchase two fully-leased properties and an adjacent land parcel that
we may seek to develop in the future in San Diego for approximately $125 million. The acquisition is expected to close in the third quarter of 2013. However, this acquisition is subject to closing conditions and other uncertainties and we cannot
provide assurance that this acquisition will be consummated at the price, on the terms or by the date currently contemplated, or at all. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, as
a key component of our growth strategy, we continually evaluate property acquisition opportunities as they arise. As a result, we typically have one or more potential acquisitions (in addition to the pending acquisition discussed above) under
consideration that are in varying stages of negotiation and due diligence review, or under contract, at any point in time. However, those agreements are subject to closing conditions and other uncertainties and there can be no assurance that we will
acquire the properties subject to those agreements. Likewise, we cannot provide assurance that we will enter into any additional definitive agreements to acquire properties or, if we do, that the acquisitions will close. Costs associated with
acquisitions are expensed as incurred and we may be unable to complete an acquisition after making a nonrefundable deposit or incurring acquisition-related costs. In addition, acquisitions are subject to various other risks and uncertainties. For
additional information, see &#147;Risk Factors&#151;Risks Related to our Business and Operations&#151;We may be unable to complete acquisitions and successfully operate acquired properties&#148; in the Company&#146;s Annual Report on Form 10-K for
the year ended December 31, 2012. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Leasing Activity</I></B>. As of June 30, 2013, we had entered into non-binding letters of intent for leases
totaling approximately 400,000 rentable square feet in our office properties. However, we cannot assure you that these letters of intent will result in leases, or when the space available for rent may ultimately be leased. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Capital Recycling.</I></B> As part of our current and ongoing strategy, we continuously evaluate opportunities for the potential disposition of
properties and undeveloped land in our portfolio with the intent of recycling the proceeds generated from the disposition of non-strategic properties into capital to fund new operating and development acquisitions, development and redevelopment
expenditures, to repay long-term debt and for other general corporate purposes. As part of our capital recycling strategy, we intend, when practical, to structure those dispositions as like-kind exchanges pursuant to Section 1031 of the Internal
Revenue Code of 1986 (&#147;Section 1031 Exchanges&#148;) to defer some or all of the taxable gains, if any, on the sales for federal and state income tax purposes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with this strategy, we anticipate that we could dispose of approximately $150 million to $400 million of additional operating properties and/or
undeveloped land during the next 18 months. The timing of any potential future disposition transactions will depend on market conditions and other factors, including but not limited to our capital needs, demand for our properties and our ability to
defer some or all of the taxable gains, if any, on the sales. Subject to the satisfaction of various criteria, including but not limited to the availability of the asset for immediate sale, the existence of an active program to locate a buyer, and
the probable sale or transfer of the asset within one year, any operating property and/or undeveloped land we are seeking to dispose of may be classified as held for sale on our consolidated balance sheet. We cannot assure you that we will dispose
of any additional properties, or that future acquisitions and/or dispositions, if any, will qualify as Section 1031 Exchanges. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>ITEM&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>FINANCIAL STATEMENTS AND EXHIBITS </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Exhibits. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>1.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Underwriting Agreement dated September&nbsp;12, 2013.</TD></TR>
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<TD VALIGN="top" NOWRAP>5.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Opinion of Ballard Spahr LLP in connection with the offering of shares of common stock.</TD></TR>
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<TD VALIGN="top" NOWRAP>23.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Consent of Ballard Spahr LLP (contained in the opinion filed as Exhibit 5.1 hereto).</TD></TR>
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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Press release dated September 11, 2013 issued by Kilroy Realty Corporation.</TD></TR>
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<TD VALIGN="top" NOWRAP>99.2</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Press release dated September 12, 2013 issued by Kilroy Realty Corporation.</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3">KILROY REALTY CORPORATION</TD></TR>
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<TD VALIGN="top">By:</TD>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Heidi R. Roth</TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Heidi R. Roth</TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Senior Vice President, Chief Accounting Officer</I></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><I>and Controller</I></P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: September&nbsp;16, 2013 </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3">KILROY REALTY, L.P.</TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">KILROY REALTY CORPORATION,</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Its general
partner</P></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Heidi R. Roth</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Heidi R. Roth</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Senior Vice President, Chief Accounting Officer</I></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><I>and Controller</I></P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: September&nbsp;16, 2013 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:28.45pt; font-size:8pt; font-family:Times New Roman"><B>Exhibit<BR>Number</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Description of Exhibit</B></P></TD></TR>


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<TD VALIGN="top" NOWRAP>1.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Underwriting Agreement dated September 12, 2013.</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>5.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Opinion of Ballard Spahr LLP in connection with the offering of shares of common stock.</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>23.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Consent of Ballard Spahr LLP (contained in the opinion filed as Exhibit 5.1 hereto).</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release dated September 11, 2013 issued by Kilroy Realty Corporation.</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release dated September 12, 2013 issued by Kilroy Realty Corporation.</TD></TR>
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[{"type": "8-K", "sequence": "1", "filename": "d597964d8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 25232}]
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Form 8-K
UNITED STATES
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):
September 11, 2013
KILROY REALTY
CORPORATION
KILROY REALTY, L.P.
(Exact name of registrant as specified in its charter)
Maryland (Kilroy Realty Corporation)
001-12675 (Kilroy Realty Corporation)
95-4598246 (Kilroy Realty Corporation)
Delaware (Kilroy Realty, L.P.)
000-54005 (Kilroy Realty, L.P.)
95-4612685 (Kilroy Realty, L.P.)
(State or other jurisdiction of
incorporation)
(Commission File Number)
(IRS Employer Identification No.)
12200 W. Olympic Boulevard, Suite 200, Los Angeles, California 90064
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (310) 481-8400
N/A
(Former name or
former address, if changed since last report.)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2.):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 7.01
REGULATION FD DISCLOSURE
On September 11, 2013, Kilroy Realty Corporation, or the Company, issued
a press release. A copy of the press release is furnished as Exhibit 99.1 to this report.
On September 12, 2013, the Company issued a press release.
A copy of the press release is furnished as Exhibit 99.2 to this report.
The information included in this Current Report on Form 8-K under this
Item 7.01 (including Exhibit 99.1 and Exhibit 99.2 hereto) is being "furnished" and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise
subject to the liabilities of Section 18, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by
specific reference in such filing. The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibit 99.1 and 99.2 hereto) will not be deemed an admission as to the materiality of any information required to be
disclosed solely to satisfy the requirements of Regulation FD.
ITEM 8.01
OTHER EVENTS
A. Underwriting Agreement
On September 12, 2013, the Company and Kilroy Realty, L.P. (the "Operating Partnership") entered into an underwriting agreement (referred to
herein as the "Underwriting Agreement") with Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, as representatives of the several underwriters
named therein, in connection with the public offering by the Company of up to 6,325,000 shares of its common stock, par value $0.01, including 825,000 shares which may be purchased at the option of the underwriters pursuant to the terms of the
Underwriting Agreement. A copy of the Underwriting Agreement is attached as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference. The opinion of Ballard Spahr LLP with respect to the validity of the shares in this
offering is filed herewith as Exhibit 5.1.
B. Recent Developments
The following discussion provides information with respect to certain recent developments of the Company and the Operating Partnership. Unless otherwise
expressly stated or the context otherwise requires, "we," "us" and "our" refer collectively to the Company, the Operating Partnership and the Company's other subsidiaries.
Pending Acquisition.
We have entered into a purchase and sale agreement to purchase two fully-leased properties and an adjacent land parcel that
we may seek to develop in the future in San Diego for approximately $125 million. The acquisition is expected to close in the third quarter of 2013. However, this acquisition is subject to closing conditions and other uncertainties and we cannot
provide assurance that this acquisition will be consummated at the price, on the terms or by the date currently contemplated, or at all.
In addition, as
a key component of our growth strategy, we continually evaluate property acquisition opportunities as they arise. As a result, we typically have one or more potential acquisitions (in addition to the pending acquisition discussed above) under
consideration that are in varying stages of negotiation and due diligence review, or under contract, at any point in time. However, those agreements are subject to closing conditions and other uncertainties and there can be no assurance that we will
acquire the properties subject to those agreements. Likewise, we cannot provide assurance that we will enter into any additional definitive agreements to acquire properties or, if we do, that the acquisitions will close. Costs associated with
acquisitions are expensed as incurred and we may be unable to complete an acquisition after making a nonrefundable deposit or incurring acquisition-related costs. In addition, acquisitions are subject to various other risks and uncertainties. For
additional information, see "Risk Factors—Risks Related to our Business and Operations—We may be unable to complete acquisitions and successfully operate acquired properties" in the Company's Annual Report on Form 10-K for
the year ended December 31, 2012.
Leasing Activity
. As of June 30, 2013, we had entered into non-binding letters of intent for leases
totaling approximately 400,000 rentable square feet in our office properties. However, we cannot assure you that these letters of intent will result in leases, or when the space available for rent may ultimately be leased.
Capital Recycling.
As part of our current and ongoing strategy, we continuously evaluate opportunities for the potential disposition of
properties and undeveloped land in our portfolio with the intent of recycling the proceeds generated from the disposition of non-strategic properties into capital to fund new operating and development acquisitions, development and redevelopment
expenditures, to repay long-term debt and for other general corporate purposes. As part of our capital recycling strategy, we intend, when practical, to structure those dispositions as like-kind exchanges pursuant to Section 1031 of the Internal
Revenue Code of 1986 ("Section 1031 Exchanges") to defer some or all of the taxable gains, if any, on the sales for federal and state income tax purposes.
In connection with this strategy, we anticipate that we could dispose of approximately $150 million to $400 million of additional operating properties and/or
undeveloped land during the next 18 months. The timing of any potential future disposition transactions will depend on market conditions and other factors, including but not limited to our capital needs, demand for our properties and our ability to
defer some or all of the taxable gains, if any, on the sales. Subject to the satisfaction of various criteria, including but not limited to the availability of the asset for immediate sale, the existence of an active program to locate a buyer, and
the probable sale or transfer of the asset within one year, any operating property and/or undeveloped land we are seeking to dispose of may be classified as held for sale on our consolidated balance sheet. We cannot assure you that we will dispose
of any additional properties, or that future acquisitions and/or dispositions, if any, will qualify as Section 1031 Exchanges.
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits.
1.1
Underwriting Agreement dated September 12, 2013.
5.1
Opinion of Ballard Spahr LLP in connection with the offering of shares of common stock.
23.1
Consent of Ballard Spahr LLP (contained in the opinion filed as Exhibit 5.1 hereto).
99.1
Press release dated September 11, 2013 issued by Kilroy Realty Corporation.
99.2
Press release dated September 12, 2013 issued by Kilroy Realty Corporation.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
KILROY REALTY CORPORATION
By:
/s/ Heidi R. Roth
Heidi R. Roth
Senior Vice President, Chief Accounting Officer
and Controller
Date: September 16, 2013
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
KILROY REALTY, L.P.
By:
KILROY REALTY CORPORATION,
Its general
partner
By:
/s/ Heidi R. Roth
Heidi R. Roth
Senior Vice President, Chief Accounting Officer
and Controller
Date: September 16, 2013
EXHIBIT INDEX
Exhibit
Number
Description of Exhibit
1.1
Underwriting Agreement dated September 12, 2013.
5.1
Opinion of Ballard Spahr LLP in connection with the offering of shares of common stock.
23.1
Consent of Ballard Spahr LLP (contained in the opinion filed as Exhibit 5.1 hereto).
99.1
Press release dated September 11, 2013 issued by Kilroy Realty Corporation.
99.2
Press release dated September 12, 2013 issued by Kilroy Realty Corporation.