吉劳埃地产 2025年季度报告

For the quarterly period endedMarch 31, 2025 ORTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromtoCommission File Number:1-12675(Kilroy Realty Corporation)Commission File Number:000-54005(Kilroy Realty, L.P.)KILROY REALTY CORPORATIONKILROY REALTY, L.P. (Exact name of registrant as specified in its charter)Kilroy Realty CorporationMaryland95-4598246(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)Kilroy Realty, L.P.Delaware95-4612685 Non-acceleratedfiler☐Smallerreportingcompany☐☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Kilroy Realty, L.P. Acceleratedfiler☐Smallerreportingcompany☐ Emerging growth company☐If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Kilroy Realty, L.P. Yes☐As of May2, 2025,118,280,582shares of Kilroy Realty Corporation common stock, par value $.01 per share, were outstanding. This report combines the quarterly reports on Form 10-Q for the period ended March 31, 2025 of Kilroy Realty Corporation andKilroy Realty, L.P. Unless stated otherwise or the context otherwise requires, references to “Kilroy Realty Corporation” or the“Company,” “we,” “our,” and “us” mean Kilroy Realty Corporation, a Maryland corporation, and its controlled and consolidatedsubsidiaries, and references to “Kilroy Realty, L.P.” or the “Operating Partnership” mean Kilroy Realty, L.P., a Delaware limitedpartnership and its controlled and consolidated subsidiaries. 2025, the Company owned an approximate 99.0% common general partnership interest in the Operating Partnership. The remainingapproximate 1.0% common limited partnership interests are owned by non-affiliated investors. As the sole general partner of theOperating Partnership, the Company exercises exclusive and complete discretion over the Operating Partnership’s day-to-daymanagement and control and can cause it to enter into certain major transactions, including acquisitions, dispositions, and refinancingsand cause changes in its line of business, capital structure, and distribution policies. how the Company and the Operating Partnership operate as an interrelated, consolidated company. The Company is a REIT, the onlymaterial asset of which is the partnership interests it holds in the Operating Partnership. As a result, the Company generally does notconduct business itself, other than acting as the sole general partner of the Operating Partnership, issuing equity from time to time andguaranteeing certain debt of the Operating Partnership. The Company itself is not directly obligated under any indebtedness, butgenerally guarantees all of the debt of the Operating Partnership. The Operating Partnership owns substantially all of the assets of theCompany either directly or through its subsidiaries, conducts the operations of the Company’s business, and is structured as a limitedpartnership with no publicly traded equity. Except for net proceeds from equity issuances by the Company, which the Companygenerally contributes to the Operating Partnership in exchange for units of partnership interest, the Operating Partnership generates thecapital required by the Company’s business through the Operating Partnership’s operations, by the Operating Partnership’s incurrence Partnership.We believe combining the quarterly reports on Form 10-Q of the Company and the Operating Partnership into this single reportresults in the following benefits: the business as a whole and in the same manner as management; expense; and To help investors understand the significant differences between the Company and the Operating Partnership, this report presents the following separate sections for each of the Company and the Operating Partnership: •the following notes to the consolidated financial statements: ◦Note 11, Net Income Available to Common Unitholders Per Unit of the Operating Partnership; Note 12, Supplemental Cash Flows Information of the Company; andNote 13, Supplemental Cash Flows Information of the Operating Partnership; i —Liquidity and Capital Resources of the Company;” and—Liquidity and Capital Resources of the Operating Partnership.” 18U.S.C. §1350. We use our website (www.kilroyrealty.com) as a routine channel of distribution of company information, including press releases,presentations, and supplemental information, as a means of disclosing material non-public information and for complying with ourdisclosure obligations under