Kilroy Realty Completes $90 Million Secured Loan
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LOS ANGELES, Oct. 25 /PRNewswire/ -- Kilroy Realty Corporation (NYSE: KRC) today reported that Kilroy Realty, L.P. has obtained a $90 million, four-year secured loan from Commerzbank AG and Dresdner Bank AG. The loan, which bears interest at LIBOR plus 1.75%, is secured by 13 office properties owned by the company in San Diego County. Proceeds from the transaction will be used to pay down the balance on the company's unsecured credit line.
Kilroy Realty Corporation is a Southern California-based real estate investment trust active in the commercial office and industrial property sectors. Principal submarkets for the company's development projects include Los Angeles, San Diego, Long Beach and Orange County, where the company has a development pipeline exceeding $500 million. At June 30, 1999, the company owned 5.8 million square feet of commercial office space and 6.2 million square feet of industrial space. More information on Kilroy Realty can be found at www.kilroyrealty.com.
SOURCE Kilroy Realty Corporation