Kilroy Realty Corporation Receives $18 Million Payment From Peregrine Systems
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LOS ANGELES--(BUSINESS WIRE)--Aug. 7, 2003--Kilroy Realty Corporation (NYSE:KRC) today announced that it has received $18.3 million from Peregrine Systems, Inc. as part of a previously announced settlement resulting from Peregrine's 2002 bankruptcy filing. In accordance with the settlement, Kilroy Realty will also receive approximately $750,000 to be paid annually in August over the next four years.
Kilroy Realty Corporation, a member of the S&P Small Cap 600 Index, is a Southern California-based real estate investment trust active in the office and industrial property sectors. For more than 50 years, the company has owned, developed, acquired and managed real estate assets primarily in the coastal regions of California and Washington. Principal submarkets for KRC's current development program include El Segundo and coastal San Diego. At June 30, 2003, the company owned 6.9 million square feet of commercial office space and 4.9 million square feet of industrial space. More information can be found at www.kilroyrealty.com.