Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2019



	Initial Cost									Gross Amounts at Which Carried at Close of Period
Property Location	Encumb- rances			Land and improve- ments		Buildings and Improve- ments		Costs Capitalized Subsequent to Acquisition/ Improvement		Land and improve- ments		Buildings and Improve- ments		Total		Accumulated Depreciation		Depreci- ation Life ⁽¹⁾	Date of Acquisition (A)/ Construction (C) ⁽²⁾		Rentable Square Feet ⁽³⁾ (unaudited)
	($ in thousands)
Office Properties:
3077-3243 S. La Cienega Blvd., Culver City, CA				$	150,718	$	31,032	$	2	$	150,718	$	31,034	$	181,752	$	1,227	35	2019	A	151,908
2240 E. Imperial Highway, El Segundo, CA				1,044		11,763		29,542		1,048		41,301		42,349		26,943		35	1983	C	122,870
2250 E. Imperial Highway, El Segundo, CA				2,579		29,062		36,294		2,547		65,388		67,935		54,789		35	1983	C	298,728
2260 E. Imperial Highway, El Segundo, CA				2,518		28,370		36,764		2,547		65,105		67,652		16,320		35	1983	C	298,728
909 N. Pacific Coast Highway, El Segundo, CA				3,577		34,042		50,104		3,577		84,146		87,723		41,765		35	2005	C	244,136
999 N. Pacific Coast Highway, El Segundo, CA				1,407		34,326		16,897		1,407		51,223		52,630		25,350		35	2003	C	128,588
6115 W. Sunset Blvd., Los Angeles, CA ⁽⁴⁾				1,313		3		16,436		2,455		15,297		17,752		2,165		35	2015	C	26,105
6121 W. Sunset Blvd., Los Angeles, CA ⁽⁴⁾				11,120		4,256		43,971		8,703		50,644		59,347		7,262		35	2015	C	91,173
1525 N. Gower St., Los Angeles, CA ⁽⁴⁾				1,318		3		9,641		1,318		9,644		10,962		1,206		35	2016	C	9,610
1575 N. Gower St., Los Angeles, CA ⁽⁴⁾				22,153		51		119,460		22,153		119,511		141,664		11,813		35	2016	C	251,245
1500 N. El Centro Ave., Los Angeles, CA ⁽⁴⁾				9,235		21		58,603		9,235		58,624		67,859		6,208		35	2016	C	104,504
1550 N. El Centro Ave., Los Angeles, CA ^{(4) (5)}				16,970		39		135,847		16,970		135,886		152,856		13,895		35	2016	C	—
6255 W. Sunset Blvd., Los Angeles, CA				18,111		60,320		46,112		18,111		106,432		124,543		35,548		35	2012	A	323,920
3750 Kilroy Airport Way, Long Beach, CA				—		1,941		11,610		—		13,551		13,551		10,822		35	1989	C	10,457
3760 Kilroy Airport Way, Long Beach, CA				—		17,467		14,902		—		32,369		32,369		26,878		35	1989	C	165,278
3780 Kilroy Airport Way, Long Beach, CA				—		22,319		26,442		—		48,761		48,761		39,320		35	1989	C	221,452
3800 Kilroy Airport Way, Long Beach, CA				—		19,408		21,806		—		41,214		41,214		24,877		35	2000	C	192,476
3840 Kilroy Airport Way, Long Beach, CA				—		13,586		10,666		—		24,252		24,252		16,162		35	1999	C	136,026
3880 Kilroy Airport Way, Long Beach, CA				—		9,704		11,463		—		21,167		21,167		4,517		35	1997	A	96,035
3900 Kilroy Airport Way, Long Beach, CA				—		12,615		12,433		—		25,048		25,048		18,248		35	1997	A	129,893
Kilroy Airport Center, Phase IV, Long Beach, CA ⁽⁶⁾				—		—		4,997		—		4,997		4,997		4,997		35	—		—
8560 W. Sunset Blvd., West Hollywood, CA				9,720		50,956		1,587		9,720		52,543		62,263		6,289		35	2016	A	71,875
8570 W Sunset Blvd., West Hollywood, CA				31,693		27,974		4,589		31,693		32,563		64,256		3,090		35	2016	A	43,603
8580 W. Sunset Blvd., West Hollywood, CA				10,013		3,695		648		10,013		4,343		14,356		392		35	2016	A	7,126
8590 W. Sunset Blvd., West Hollywood, CA				39,954		27,884		5,192		39,954		33,076		73,030		3,370		35	2016	A	56,095
12100 W. Olympic Blvd., Los Angeles, CA	$	170,000	(7)	352		45,611		18,617		9,633		54,947		64,580		29,197		35	2003	C	152,048
12200 W. Olympic Blvd., Los Angeles, CA			(7)	4,329		35,488		24,224		3,977		60,064		64,041		39,654		35	2000	C	150,832
12233 W. Olympic Blvd., Los Angeles, CA				22,100		53,170		4,676		22,100		57,846		79,946		14,055		35	2012	A	151,029
12312 W. Olympic Blvd., Los Angeles, CA			(7)	3,325		12,202		12,346		3,399		24,474		27,873		13,463		35	1997	A	76,644
1633 26th St., Santa Monica, CA				2,080		6,672		3,581		2,040		10,293		12,333		7,177		35	1997	A	43,857
2100/2110 Colorado Ave., Santa Monica, CA				5,474		26,087		14,678		5,476		40,763		46,239		25,730		35	1997	A	102,864
3130 Wilshire Blvd., Santa Monica, CA				8,921		6,579		16,799		9,188		23,111		32,299		15,989		35	1997	A	90,074
501 Santa Monica Blvd., Santa Monica, CA				4,547		12,044		15,889		4,551		27,929		32,480		17,346		35	1998	A	76,803

KILROY REALTY CORPORATION AND KILROY REALTY, L.P.

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION – (Continued)

December 31, 2019



	Initial Cost					Gross Amounts at Which Carried at Close of Period
Property Location	Encumb- rances		Land and improve- ments	Buildings and Improve- ments	Costs Capitalized Subsequent to Acquisition/ Improvement	Land and improve- ments	Buildings and Improve- ments	Total	Accumulated Depreciation	Depreci- ation Life ⁽¹⁾	Date of Acquisition (A)/ Construction (C) ⁽²⁾		Rentable Square Feet ⁽³⁾ (unaudited)
	($ in thousands)
12225 El Camino Real, Del Mar, CA			1,700	9,633	3,714	1,673	13,374	15,047	9,224	35	1998	A	58,401
12235 El Camino Real, Del Mar, CA			1,507	8,543	9,022	1,540	17,532	19,072	10,435	35	1998	A	53,751
12340 El Camino Real, Del Mar, CA			4,201	13,896	11,660	4,201	25,556	29,757	12,128	35	2002	C	89,272
12390 El Camino Real, Del Mar, CA			3,453	11,981	8,804	3,453	20,785	24,238	9,540	35	2000	C	70,140
12348 High Bluff Dr., Del Mar, CA			1,629	3,096	6,323	1,629	9,419	11,048	6,636	35	1999	C	38,806
12400 High Bluff Dr., Del Mar, CA			15,167	40,497	14,473	15,167	54,970	70,137	28,866	35	2004	C	209,220
3579 Valley Centre Dr., Del Mar, CA			2,167	6,897	7,628	2,858	13,834	16,692	10,015	35	1999	C	54,960
3611 Valley Centre Dr., Del Mar, CA			4,184	19,352	19,881	5,259	38,158	43,417	25,713	35	2000	C	129,656
3661 Valley Centre Dr., Del Mar, CA			4,038	21,144	18,843	4,725	39,300	44,025	22,291	35	2001	C	128,364
3721 Valley Centre Dr., Del Mar, CA			4,297	18,967	14,705	4,254	33,715	37,969	17,509	35	2003	C	115,193
3811 Valley Centre Dr., Del Mar, CA			3,452	16,152	20,234	4,457	35,381	39,838	22,848	35	2000	C	112,067
12770 El Camino Real, Del Mar, CA			9,360	—	33,708	9,360	33,708	43,068	3,281	35	2015	C	73,032
12780 El Camino Real, Del Mar, CA			18,398	54,954	19,637	18,398	74,591	92,989	15,891	35	2013	A	140,591
12790 El Camino Real, Del Mar, CA			10,252	21,236	1,915	10,252	23,151	33,403	5,768	35	2013	A	78,836
3745 Paseo Place, Del Mar, CA (Retail) ⁽⁸⁾			24,358	—	71,800	24,358	71,800	96,158	1,683	35	2019	C	—
3200 Paseo Village Way, San Diego, CA (Resi Phase I) ⁽⁹⁾			40,186	—	102,749	40,186	102,749	142,935	937	35	2019	C	—
13280 Evening Creek Dr. South, I-15 Corridor, CA			3,701	8,398	4,729	3,701	13,127	16,828	5,809	35	2008	C	41,196
13290 Evening Creek Dr. South, I-15 Corridor, CA			5,229	11,871	6,128	5,229	17,999	23,228	6,797	35	2008	C	61,180
13480 Evening Creek Dr. South, I-15 Corridor, CA			7,997	—	52,826	7,997	52,826	60,823	20,167	35	2008	C	154,157
13500 Evening Creek Dr. South, I-15 Corridor, CA			7,581	35,903	18,106	7,581	54,009	61,590	22,402	35	2004	A	137,658
13520 Evening Creek Dr. South, I-15 Corridor, CA			7,580	35,903	17,778	7,580	53,681	61,261	24,885	35	2004	A	146,701
2305 Historic Decatur Rd., Point Loma, CA			5,240	22,220	7,309	5,240	29,529	34,769	10,801	35	2010	A	107,456
4690 Executive Dr., University Towne Centre, CA			1,623	7,926	3,722	1,623	11,648	13,271	7,829	35	1999	A	47,846
4100 Bohannon Dr., Menlo Park, CA		(10)	4,835	15,526	567	4,860	16,068	20,928	4,557	35	2012	A	47,379
4200 Bohannon Dr., Menlo Park, CA		(10)	4,798	15,406	3,703	4,662	19,245	23,907	5,788	35	2012	A	45,451
4300 Bohannon Dr., Menlo Park, CA		(10)	6,527	20,958	3,248	6,470	24,263	30,733	7,803	35	2012	A	63,079
4400 Bohannon Dr., Menlo Park, CA		(10)	4,798	15,406	2,905	4,939	18,170	23,109	5,779	35	2012	A	48,146
4500 Bohannon Dr., Menlo Park, CA		(10)	6,527	20,957	3,422	6,470	24,436	30,906	6,552	35	2012	A	63,078
4600 Bohannon Dr., Menlo Park, CA		(10)	4,798	15,406	3,571	4,939	18,836	23,775	5,660	35	2012	A	48,147
4700 Bohannon Dr., Menlo Park, CA		(10)	6,527	20,958	1,488	6,470	22,503	28,973	6,326	35	2012	A	63,078
1290 - 1300 Terra Bella Ave., Mountain View, CA			28,730	27,555	61	28,730	27,616	56,346	4,809	35	2016	A	114,175
331 Fairchild Dr., Mountain View, CA			18,396	17,712	7,962	18,396	25,674	44,070	5,575	35	2013	C	87,147
680 E. Middlefield Rd., Mountain View, CA			34,605	—	56,470	34,605	56,470	91,075	9,813	35	2014	C	170,090
690 E. Middlefield Rd., Mountain View, CA			34,755	—	56,713	34,755	56,713	91,468	9,855	35	2014	C	170,823
1701 Page Mill Rd., Palo Alto, CA			—	99,522	30	—	99,552	99,552	9,002	35	2016	A	128,688

KILROY REALTY CORPORATION AND KILROY REALTY, L.P.

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION – (Continued)

December 31, 2019



	Initial Cost									Gross Amounts at Which Carried at Close of Period
Property Location	Encumb- rances			Land and improve- ments		Buildings and Improve- ments		Costs Capitalized Subsequent to Acquisition/ Improvement		Land and improve- ments			Buildings and Improve- ments		Total		Accumulated Depreciation		Depreci- ation Life ⁽¹⁾	Date of Acquisition (A)/ Construction (C) ⁽²⁾		Rentable Square Feet ⁽³⁾ (unaudited)
	($ in thousands)
3150 Porter Dr., Palo Alto, CA				—		21,715		4		—			21,719		21,719		2,387		35	2016	A	36,897
900 Jefferson Ave., Redwood City, CA ⁽¹¹⁾				16,668		—		109,375		18,063			107,980		126,043		15,824		35	2015	C	228,505
900 Middlefield Rd., Redwood City, CA ⁽¹¹⁾				7,959		—		50,114		8,626			49,447		58,073		6,941		35	2015	C	118,764
303 Second St., San Francisco, CA ⁽¹²⁾				63,550		154,153		84,572		63,550			238,725		302,275		83,973		35	2010	A	784,658
100 First St., San Francisco, CA ⁽¹³⁾				49,150		131,238		64,883		49,150			196,121		245,271		62,989		35	2010	A	467,095
250 Brannan St., San Francisco, CA				7,630		22,770		9,932		7,630			32,702		40,332		10,651		35	2011	A	100,850
201 Third St., San Francisco, CA				19,260		84,018		66,962		19,260			150,980		170,240		55,837		35	2011	A	346,538
301 Brannan St., San Francisco, CA				5,910		22,450		8,174		5,910			30,624		36,534		10,091		35	2011	A	82,834
360 Third St., San Francisco, CA				—		88,235		121,323		28,504			181,054		209,558		46,907		35	2011	A	429,796
333 Brannan St., San Francisco, CA				18,645		—		81,016		18,645			81,016		99,661		8,826		35	2016	C	185,602
350 Mission St., San Francisco, CA				52,815		—		213,450		52,815			213,450		266,265		24,500		35	2016	C	455,340
100 Hooper St., San Francisco, CA				78,564		—		196,251		88,510			186,305		274,815		5,978		35	2018	C	394,340
345 Brannan St., San Francisco, CA				29,405		113,179		1,322		29,403			114,503		143,906		3,697		35	2018	A	110,050
345 Oyster Point Blvd., South San Francisco, CA				13,745		18,575		1		13,745			18,576		32,321		1,167		35	2018	A	40,410
347 Oyster Point Blvd., South San Francisco, CA				14,071		18,289		44		14,071			18,333		32,404		1,150		35	2018	A	39,780
349 Oyster Point Blvd., South San Francisco, CA				23,112		22,601		324		23,112			22,925		46,037		1,926		35	2018	A	65,340
505 Mathilda Ave., Sunnyvale, CA				37,843		1,163		50,450		37,943			51,513		89,456		7,827		35	2014	C	212,322
555 Mathilda Ave., Sunnyvale, CA				37,843		1,163		50,447		37,943			51,510		89,453		7,827		35	2014	C	212,322
605 Mathilda Ave., Sunnyvale, CA				29,014		891		77,281		29,090			78,096		107,186		17,289		35	2014	C	162,785
599 Mathilda Ave., Sunnyvale, CA				13,538		12,559		139		13,538			12,698		26,236		4,147		35	2012	A	76,031
1800 Owens St., San Francisco, CA ⁽¹⁴⁾				95,388		—		428,066		95,388			428,066		523,454		4,467		35	2019	C	—
601 108th Ave., Bellevue, WA				—		214,095		38,536		—			252,631		252,631		79,397		35	2011	A	488,470
10900 NE 4th St., Bellevue, WA				25,080		150,877		40,547		25,080			191,424		216,504		54,159		35	2012	A	428,557
837 N. 34th St., Lake Union, WA				—		37,404		4,950		—			42,354		42,354		11,132		35	2012	A	112,487
701 N. 34th St., Lake Union, WA				—		48,027		8,226		—			56,253		56,253		15,982		35	2012	A	141,860
801 N. 34 St., Lake Union, WA				—		58,537		17,222		—			75,759		75,759		16,318		35	2012	A	169,412
320 Westlake Ave. North, WA	89,502		(15)	14,710		82,018		14,378		14,710			96,396		111,106		19,817		35	2013	A	184,644
321 Terry Avenue North, Lake Union, WA			(15)	10,430		60,003		10,321		10,430			70,324		80,754		15,561		35	2013	A	135,755
401 Terry Avenue North, Lake Union, WA				22,500		77,046		13		22,500			77,059		99,559		15,556		35	2014	A	140,605
TOTAL OPERATING PROPERTIES	259,502			1,413,997		2,717,671		3,200,975		1,466,166		65	5,866,477		7,332,643		1,561,361					13,475,795
Undeveloped land and construction in progress	—			1,058,176		—		1,237,954		1,058,176			1,237,954		2,296,130		—					—
TOTAL ALL PROPERTIES	$	259,502	(16)	$	2,472,173	$	2,717,671	$	4,438,929	$	2,524,342		$	7,104,432	$	9,628,773	$	1,561,361				13,475,795

KILROY REALTY CORPORATION AND KILROY REALTY, L.P.

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION – (Continued)

December 31, 2019

__________________


(1)	The initial costs of buildings and improvements are depreciated over 35 years using a straight-line method of accounting; improvements capitalized subsequent to acquisition are depreciated over the shorter of the lease term or useful life, generally ranging from one to 20 years.


(2)	Represents our date of construction or acquisition, or of our predecessor, the Kilroy Group.


(3)	Includes square footage from our stabilized portfolio.


(4)	These properties include the costs of a shared parking structure for a complex comprised of five office buildings and one residential tower. The costs of the parking structure are allocated amongst the six buildings.


(5)	This property represents the 200-unit Columbia Square - Residential tower that stabilized in 2016.


(6)	These costs represent infrastructure costs incurred in 1989. During the third quarter of 2009, we exercised our option to terminate the ground lease at Kilroy Airport Center, Phase IV in Long Beach, California. We had previously leased this land, which is adjacent to our Office Properties at Kilroy Airport Center, Long Beach, for potential future development opportunities.


(7)	These properties secure a $170.0 million mortgage note.


(8)	This property is currently in the tenant improvement phase of our in-process development projects and not yet in the stabilized portfolio. The estimated rentable square feet for this property is 96,000 rentable square feet.


(9)	This property represents the first completed phase of the One Paseo residential property containing 237 units.


(10)	These properties secure intercompany promissory notes between KRLP and the consolidated property partnerships.


(11)	These properties are owned by Redwood City Partners LLC, a consolidated property partnership.


(12)	This property is owned by 303 Second Street Member LLC, a consolidated property partnership.


(13)	This property is owned by 100 First Street Member LLC, a consolidated property partnership.


(14)	This property is currently in the tenant improvement phase of our in-process development projects and not yet in the stabilized portfolio. The estimated rentable square feet for this property is 750,000 rentable square feet.


(15)	These properties secure a $89.5 million mortgage note.

(16)

Represents gross aggregate principal amount before the effect of the deferred financing costs of $0.9 million as of December 31, 2019.units.

As of December 31, 2019, the aggregate gross cost of property included above for federal income tax purposes approximated $7.9 billion. This amount excludes approximately $0.2 billion of gross costs attributable to properties held in VIEs at December 31, 2019 to facilitate potential future Section 1031 Exchanges.

The following table reconciles the historical cost of total real estate held for investment from January 1, 2017 to December 31, 2019:



	Year Ended December 31,
	2019			2018 ⁽¹⁾			2017
	(in thousands)
Total real estate held for investment, beginning of year	$	8,426,632		$	7,417,777		$	7,060,754
Additions during period:
Acquisitions	460,512			581,671			19,829
Improvements, etc.	890,654			724,016			533,939
Total additions during period	1,351,166			1,305,687			553,768
Deductions during period:
Cost of real estate sold	(120,788		)	(286,623		)	(191,610		)
Other	(28,237		)	(10,209		)	(5,135		)
Total deductions during period	(149,025		)	(296,832		)	(196,745		)
Total real estate held for investment, end of year	$	9,628,773		$	8,426,632		$	7,417,777

__________________


(1)	Amounts presented in Improvements, etc. and Other have been revised for the year ended December 31, 2018 to conform to the current year presentation with amounts transferred from undeveloped land and construction in progress to land and improvements and buildings and improvements presented on a net basis, which did not have any impact on total real estate held for investment at December 31, 2018.

The following table reconciles the accumulated depreciation from January 1, 2017 to December 31, 2019:



	Year Ended December 31,
	2019			2018			2017
	(in thousands)
Accumulated depreciation, beginning of year	$	1,391,368		$	1,264,162		$	1,139,853
Additions during period:
Depreciation of real estate	211,893			198,578			190,515
Total additions during period	211,893			198,578			190,515
Deductions during period:
Write-offs due to sale	(41,655		)	(71,372		)	(66,206		)
Properties held for sale	—			—			—
Other	(245		)	—			—
Total deductions during period	(41,900		)	(71,372		)	(66,206		)
Accumulated depreciation, end of year	$	1,561,361		$	1,391,368		$	1,264,162