Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2020

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, 2020

	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:
3101-3243 S. La Cienega Blvd., Culver City, CA			$	150,718	$	31,033	$	227	$	150,718	$	31,259	$	181,977	$	6,127	35	2019	A	151,908
2240 E. Imperial Highway, El Segundo, CA			1,044		11,763		29,551		1,048		41,310		42,358		28,203		35	1983	C	122,870
2250 E. Imperial Highway, El Segundo, CA			2,579		29,062		36,311		2,547		65,405		67,952		56,603		35	1983	C	298,728
2260 E. Imperial Highway, El Segundo, CA			2,518		28,370		36,781		2,547		65,122		67,669		18,563		35	1983	C	298,728
909 N. Pacific Coast Highway, El Segundo, CA			3,577		34,042		51,773		3,577		85,815		89,392		44,727		35	2005	C	244,136
999 N. Pacific Coast Highway, El Segundo, CA			1,407		34,326		17,295		1,407		51,621		53,028		27,429		35	2003	C	128,588
1350 Ivar Ave., Los Angeles, CA			1,575		—		13,725		1,575		13,725		15,300		65		35	2020	C	16,448
1355 Vine St., Los Angeles, CA			17,588		—		114,603		17,588		114,603		132,191		549		35	2020	C	183,129
1375 Vine St., Los Angeles, CA			15,578		—		97,470		15,578		97,470		113,048		461		35	2020	C	159,236
1395 Vine St., Los Angeles, CA			278		—		3,138		278		3,138		3,417		16		35	2020	C	2,575
6115 W. Sunset Blvd., Los Angeles, CA (4)			1,313		3		16,454		2,455		15,315		17,770		2,787		35	2015	C	26,105
6121 W. Sunset Blvd., Los Angeles, CA (4)			11,120		4,256		43,983		8,703		50,656		59,359		8,894		35	2015	C	91,173
1525 N. Gower St., Los Angeles, CA (4)			1,318		3		9,641		1,318		9,645		10,962		1,542		35	2016	C	9,610
1575 N. Gower St., Los Angeles, CA (4)			22,153		51		119,496		22,153		119,547		141,700		15,482		35	2016	C	251,245
1500 N. El Centro Ave., Los Angeles, CA (4)			9,235		21		58,988		9,235		59,009		68,244		12,666		35	2016	C	104,504
6255 W. Sunset Blvd., Los Angeles, CA			18,111		60,320		49,265		18,111		109,585		127,696		41,735		35	2012	A	323,920
3750 Kilroy Airport Way, Long Beach, CA			—		1,941		13,113		—		15,054		15,054		11,247		35	1989	C	10,718
3760 Kilroy Airport Way, Long Beach, CA			—		17,467		16,687		—		34,154		34,154		28,166		35	1989	C	166,761
3780 Kilroy Airport Way, Long Beach, CA			—		22,319		31,855		—		54,174		54,174		41,573		35	1989	C	221,452
3800 Kilroy Airport Way, Long Beach, CA			—		19,408		22,252		—		41,660		41,660		26,473		35	2000	C	192,476
3840 Kilroy Airport Way, Long Beach, CA			—		13,586		11,755		—		25,341		25,341		16,793		35	1999	C	136,026
3880 Kilroy Airport Way, Long Beach, CA			—		9,704		11,827		—		21,531		21,531		5,220		35	1997	A	96,923
3900 Kilroy Airport Way, Long Beach, CA			—		12,615		13,208		—		25,823		25,823		19,261		35	1997	A	130,935
Kilroy Airport Center, Phase IV, Long Beach, CA (5)			—		—		4,997		—		4,997		4,997		4,997		35	—		—
8560 W. Sunset Blvd., West Hollywood, CA			9,720		50,956		1,930		9,720		52,886		62,606		8,351		35	2016	A	74,842
8570 W. Sunset Blvd., West Hollywood, CA			31,693		27,974		6,497		31,693		34,471		66,163		4,121		35	2016	A	45,941
8580 W. Sunset Blvd., West Hollywood, CA			10,013		3,695		1,219		10,013		4,914		14,927		523		35	2016	A	7,126
8590 W. Sunset Blvd., West Hollywood, CA			39,954		27,884		5,487		39,954		33,371		73,325		4,473		35	2016	A	55,302
12100 W. Olympic Blvd., Los Angeles, CA	$166,776	(6)	352		45,611		20,191		9,633		56,520		66,154		30,836		35	2003	C	152,048
12200 W. Olympic Blvd., Los Angeles, CA		(6)	4,329		35,488		25,506		3,977		61,346		65,323		42,135		35	2000	C	150,832
12233 W. Olympic Blvd., Los Angeles, CA			22,100		53,170		5,258		22,100		58,428		80,528		16,326		35	2012	A	151,029
12312 W. Olympic Blvd., Los Angeles, CA		(6)	3,325		12,202		12,345		3,399		24,473		27,872		14,923		35	1997	A	76,644
1633 26th St., Santa Monica, CA			2,080		6,672		4,006		2,040		10,718		12,758		7,497		35	1997	A	43,857
2100/2110 Colorado Ave., Santa Monica, CA			5,474		26,087		14,915		5,476		41,000		46,476		27,393		35	1997	A	102,864

KILROY REALTY CORPORATION AND KILROY REALTY, L.P.

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

December 31, 2020

	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)
3130 Wilshire Blvd., Santa Monica, CA		8,921	6,579	17,147	9,188	23,459	32,647	17,318	35	1997	A	90,074
501 Santa Monica Blvd., Santa Monica, CA		4,547	12,044	16,304	4,551	28,344	32,895	19,067	35	1998	A	76,803
12225 El Camino Real, Del Mar, CA		1,700	9,633	3,864	1,673	13,524	15,197	9,622	35	1998	A	58,401
12235 El Camino Real, Del Mar, CA		1,507	8,543	9,255	1,540	17,765	19,305	11,193	35	1998	A	53,751
12340 El Camino Real, Del Mar, CA		4,201	13,896	12,195	4,201	26,091	30,292	13,226	35	2002	C	89,272
12390 El Camino Real, Del Mar, CA		3,453	11,981	9,541	3,453	21,522	24,975	10,742	35	2000	C	70,140
12348 High Bluff Dr., Del Mar, CA		1,629	3,096	6,890	1,629	9,986	11,615	6,963	35	1999	C	39,193
12400 High Bluff Dr., Del Mar, CA		15,167	40,497	16,850	15,167	57,347	72,514	30,685	35	2004	C	210,732
12770 El Camino Real, Del Mar, CA		9,360	—	34,212	9,360	34,212	43,572	4,493	35	2015	C	73,032
12780 El Camino Real, Del Mar, CA		18,398	54,954	22,922	18,398	77,876	96,274	18,909	35	2013	A	140,591
12790 El Camino Real, Del Mar, CA		10,252	21,236	8,485	10,252	29,721	39,973	6,812	35	2013	A	78,836
12860 El Camino Real, Del Mar, CA (7)		—	—	60,675	11,326	49,349	60,675	602	35	—		—
12830 El Camino Real, Del Mar, CA (7)		—	—	134,776	28,645	106,131	134,776	885	35	—		—
3579 Valley Centre Dr., Del Mar, CA		2,167	6,897	9,559	2,858	15,765	18,623	10,397	35	1999	C	54,960
3611 Valley Centre Dr., Del Mar, CA		4,184	19,352	25,934	5,259	44,212	49,470	27,028	35	2000	C	130,109
3661 Valley Centre Dr., Del Mar, CA		4,038	21,144	18,897	4,725	39,354	44,079	24,083	35	2001	C	128,364
3721 Valley Centre Dr., Del Mar, CA		4,297	18,967	14,973	4,254	33,983	38,237	19,134	35	2003	C	115,193
3811 Valley Centre Dr., Del Mar, CA		3,452	16,152	20,540	4,457	35,687	40,144	24,154	35	2000	C	112,067
3745 Paseo Place, Del Mar, CA (Retail)		24,358	—	72,290	24,358	72,290	96,648	4,435	35	2019	C	95,871
13280 Evening Creek Dr. South, I-15 Corridor, CA		3,701	8,398	4,818	3,701	13,216	16,917	6,354	35	2008	C	41,196
13290 Evening Creek Dr. South, I-15 Corridor, CA		5,229	11,871	6,150	5,229	18,021	23,250	7,665	35	2008	C	61,180
13480 Evening Creek Dr. South, I-15 Corridor, CA		7,997	—	52,581	7,997	52,581	60,578	21,940	35	2008	C	154,157
13500 Evening Creek Dr. South, I-15 Corridor, CA		7,581	35,903	23,609	7,580	59,513	67,093	24,861	35	2004	A	137,658
13520 Evening Creek Dr. South, I-15 Corridor, CA		7,581	35,903	19,454	7,580	55,358	62,938	27,289	35	2004	A	146,701
2305 Historic Decatur Rd., Point Loma, CA		5,240	22,220	7,650	5,240	29,870	35,110	12,291	35	2010	A	107,456
4690 Executive Dr., University Towne Centre, CA		1,623	7,926	3,725	1,623	11,651	13,274	8,314	35	1999	A	47,846
4100 Bohannon Dr., Menlo Park, CA		4,835	15,526	932	4,860	16,433	21,293	5,123	35	2012	A	47,379
4200 Bohannon Dr., Menlo Park, CA		4,798	15,406	3,967	4,662	19,509	24,171	6,585	35	2012	A	45,451
4300 Bohannon Dr., Menlo Park, CA		6,527	20,958	5,373	6,470	26,387	32,858	8,557	35	2012	A	63,079
4400 Bohannon Dr., Menlo Park, CA		4,798	15,406	3,331	4,939	18,597	23,535	6,394	35	2012	A	48,146
4500 Bohannon Dr., Menlo Park, CA		6,527	20,957	3,811	6,470	24,825	31,295	7,506	35	2012	A	63,078
4600 Bohannon Dr., Menlo Park, CA		4,798	15,406	4,025	4,939	19,290	24,229	6,427	35	2012	A	48,147
4700 Bohannon Dr., Menlo Park, CA		6,527	20,958	1,584	6,470	22,599	29,069	7,112	35	2012	A	63,078
1290 - 1300 Terra Bella Ave., Mountain View, CA		28,730	27,555	61	28,730	27,616	56,346	5,702	35	2016	A	114,175

KILROY REALTY CORPORATION AND KILROY REALTY, L.P.

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

December 31, 2020

	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)
680 E. Middlefield Rd., Mountain View, CA			34,605	—	56,522	34,605	56,522	91,127	11,718	35	2014	C	170,090
690 E. Middlefield Rd., Mountain View, CA			34,755	—	56,764	34,755	56,765	91,519	11,768	35	2014	C	170,823
1701 Page Mill Rd., Palo Alto, CA			—	99,522	29	—	99,551	99,551	12,005	35	2016	A	128,688
3150 Porter Dr., Palo Alto, CA			—	21,715	410	—	22,125	22,125	3,170	35	2016	A	36,886
900 Jefferson Ave., Redwood City, CA (8)			16,668	—	109,377	18,063	107,982	126,045	19,674	35	2015	C	228,505
900 Middlefield Rd., Redwood City, CA (8)			7,959	—	50,115	8,626	49,449	58,074	8,684	35	2015	C	118,764
100 Hooper St., San Francisco, CA			78,564	—	191,895	85,510	184,949	270,459	11,632	35	2018	C	394,340
100 First St., San Francisco, CA (9)			49,150	131,238	73,238	49,150	204,476	253,626	73,294	35	2010	A	480,457
201 Third St., San Francisco, CA			19,260	84,018	69,158	19,260	153,176	172,436	65,165	35	2011	A	346,538
250 Brannan St., San Francisco, CA			7,630	22,770	10,043	7,630	32,813	40,443	11,783	35	2011	A	100,850
301 Brannan St., San Francisco, CA			5,910	22,450	7,704	5,910	30,154	36,064	11,022	35	2011	A	82,834
303 Second St., San Francisco, CA (10)			63,550	154,153	99,670	63,550	253,823	317,373	96,466	35	2010	A	784,658
333 Brannan St., San Francisco, CA			18,645	—	80,788	18,645	80,787	99,433	11,221	35	2016	C	185,602
345 Brannan St., San Francisco, CA			29,405	113,179	752	29,403	113,933	143,336	6,967	35	2018	A	110,050
350 Mission St., San Francisco, CA			52,815	—	213,312	52,815	213,312	266,127	31,186	35	2016	C	455,340
360 Third St., San Francisco, CA			—	88,235	121,629	28,504	181,360	209,864	53,833	35	2011	A	429,796
1800 Owens St., San Francisco, CA			95,388	—	437,715	95,388	437,715	533,103	20,951	35	2019	C	750,370
345 Oyster Point Blvd., South San Francisco, CA			13,745	18,575	—	13,745	18,576	32,320	1,723	35	2018	A	40,410
347 Oyster Point Blvd., South San Francisco, CA			14,071	18,289	44	14,071	18,333	32,404	1,701	35	2018	A	39,780
349 Oyster Point Blvd., South San Francisco, CA			23,112	22,601	324	23,112	22,925	46,037	2,968	35	2018	A	65,340
Kilroy Oyster Point, Phase I, South San Francisco, CA (11)			—	—	620	—	620	620	—	35	—		—
505 Mathilda Ave., Sunnyvale, CA			37,843	1,163	50,450	37,943	51,513	89,456	9,267	35	2014	C	212,322
555 Mathilda Ave., Sunnyvale, CA			37,843	1,163	50,447	37,943	51,510	89,453	9,267	35	2014	C	212,322
599 Mathilda Ave., Sunnyvale, CA			13,538	12,559	63	13,538	12,622	26,160	4,559	35	2012	A	76,031
605 Mathilda Ave., Sunnyvale, CA			29,014	891	77,282	29,090	78,096	107,187	20,542	35	2014	C	162,785
601 108th Ave., Bellevue, WA			—	214,095	40,300	—	254,395	254,395	88,958	35	2011	A	488,470
10900 NE 4th St., Bellevue, WA			25,080	150,877	45,984	25,080	196,861	221,941	62,594	35	2012	A	428,557
837 N. 34th St., Lake Union, WA			—	37,404	6,293	—	43,697	43,697	12,787	35	2012	A	112,487
701 N. 34th St., Lake Union, WA			—	48,027	8,545	—	56,572	56,572	18,277	35	2012	A	141,860
801 N. 34th St., Lake Union, WA			—	58,537	20,661	—	79,198	79,198	20,013	35	2012	A	169,412
320 Westlake Ave. North, Lake Union, WA	87,589	(12)	14,710	82,018	14,453	14,710	96,471	111,181	23,304	35	2013	A	184,644
321 Terry Ave. North, Lake Union, WA		(12)	10,430	60,003	10,366	10,430	70,369	80,799	18,091	35	2013	A	135,755
401 Terry Ave. North, Lake Union, WA			22,500	77,046	13	22,500	77,059	99,559	18,225	35	2014	A	140,605
333 Dexter Ave. North, South Lake Union, WA (13)			—	—	323,433	42,853	280,580	323,433	2,592	35	0		—

KILROY REALTY CORPORATION AND KILROY REALTY, L.P.

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

December 31, 2020

	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)
Residential Properties:
1550 N. El Centro Ave., Los Angeles, CA (4) (14)				16,970		39		136,137		16,970		136,176		153,146		17,894		35	2016	C	—
3200 Paseo Village Way, Del Mar, CA (15)				106,419		—		272,457		106,419		272,457		378,876		7,316		35	2020	C	—
TOTAL OPERATING PROPERTIES	254,365			1,496,855		2,699,959		4,215,126		1,628,848		6,783,092		8,411,940		1,798,646					14,620,166
Undeveloped land and construction in progress	—			874,773		—		903,333		874,773		903,333		1,778,106		—					—
TOTAL ALL PROPERTIES	$	254,365	(16)	$	2,371,628	$	2,699,959	$	5,118,459	$	2,503,621	$	7,686,425	$	10,190,046	$	1,798,646				14,620,166

____________________

(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)Represents the square footage of 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)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.

(6)These properties secure a $166.8 million mortgage note.

(7)These properties are 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 these properties is 285,000 rentable square feet.

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

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

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

(11)Represents the tenant funded portion of base building improvements for a project under construction.

(12)These properties secure a $87.6 million mortgage note.

(13)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 635,000 rentable square feet.

(14)This property represents the 200-unit Columbia Square residential tower that was added to the stabilized portfolio in 2016.

(15)This property represents the 608-unit One Paseo residential project that was added to the stabilized portfolio in 2020.

(16)Represents gross aggregate principal amount before the effect of the deferred financing costs of $0.8 million as of December 31, 2020.

As of December 31, 2020, the aggregate gross cost of property included above for federal income tax purposes approximated $8.6 billion.

The following table reconciles the historical cost of total real estate held for investment from January 1, 2018 to December 31, 2020:

	Year Ended December 31,
	2020		2019		2018 (1)
	(in thousands)
Total real estate held for investment, beginning of year	$	9,628,773	$	8,426,632	$	7,417,777
Additions during period:
Acquisitions	—		460,512		581,671
Improvements, etc.	645,170		890,654		724,016
Total additions during period	645,170		1,351,166		1,305,687
Deductions during period:
Cost of real estate sold	(44,070)		(120,788)		(286,623)
Other	(39,827)		(28,237)		(10,209)
Total deductions during period	(83,897)		(149,025)		(296,832)
Total real estate held for investment, end of year	$	10,190,046	$	9,628,773	$	8,426,632

____________________

(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, 2018 to December 31, 2020:

	Year Ended December 31,
	2020		2019		2018
	(in thousands)
Accumulated depreciation, beginning of year	$	1,561,361	$	1,391,368	$	1,264,162
Additions during period:
Depreciation of real estate	244,815		211,893		198,578
Total additions during period	244,815		211,893		198,578
Deductions during period:
Write-offs due to sale	(6,401)		(41,655)		(71,372)
Other	(1,129)		(245)		—
Total deductions during period	(7,530)		(41,900)		(71,372)
Accumulated depreciation, end of year	$	1,798,646	$	1,561,361	$	1,391,368