Kilroy Realty announced that its operating partnership, Kilroy Realty, L.P., has closed on a fifth amended and restated senior unsecured revolving credit facility that permits borrowings of up to $1.25 billion.
The revolving credit facility’s term was extended by two years and now matures on July 31, 2030, before the exercise of available extension options.
Kilroy Realty also closed on an amended and restated senior unsecured term loan facility that matures on July 31, 2031.
The term loan facility provides for a $250 million senior unsecured term loan. Of that amount, $200 million was previously outstanding under the prior term loan agreement and remains outstanding, while $50 million represents additional delayed draw term loan commitments available to be drawn through June 11, 2027.
The company said the recast facilities extend maturity dates, improve pricing, and increase total available borrowing capacity.
The revolving credit facility was syndicated to a group of U.S. and international banks led by JPMorgan Chase Bank, BofA Securities, Wells Fargo Securities, PNC Capital Markets, and U.S. Bank National Association, which acted as joint lead arrangers and joint bookrunners.
JPMorgan Chase Bank is the administrative agent for the revolving credit facility, while Bank of America and Wells Fargo Bank are the syndication agents.
The term loan facility was also syndicated to a group of U.S. and international banks led by JPMorgan Chase Bank, BofA Securities, Wells Fargo Securities, PNC Capital Markets, and U.S. Bank National Association as joint lead arrangers and joint bookrunners.
Kilroy Realty is a U.S. landlord and developer with operations in the San Francisco Bay Area, Los Angeles, Seattle, San Diego, and Austin. The company is a publicly traded REIT and a member of the S&P MidCap 400 Index.
As of March 31, 2026, Kilroy’s stabilized portfolio totaled approximately 17.1 million square feet of primarily office and life science space that was 77.6% occupied and 82.3% leased. The company also has 608 residential units in San Diego, with quarterly average occupancy of 95%.
KEY QUOTE:
“We are pleased to announce the recast of our Revolving Credit and Term Loan Facilities, which has allowed us to extend the maturity dates, improve pricing, and increase total available borrowing capacity. We are grateful to our strong banking partnerships, which continue to provide Kilroy with robust liquidity and financial flexibility as we look to create value for all stakeholders.”
Angela Aman, Chief Executive Officer of Kilroy Realty
