Kilroy Realty Files for Public Offering
Times Staff and Wire Reports
Moving to take advantage of an increasingly strong commercial real estate market in California, Kilroy Realty Corp. said it plans to sell 9.26 million common shares in an initial public offering. The El Segundo-based commercial real estate firm said it expects to raise as much as $169.7 million from the offering after expenses while selling new investors an 85% stake in the company. Kilroy Realty, which is named for its founder and chairman, John Kilroy, filed with the Securities and Exchange Commission to register shares of the offering for sale. The Kilroy IPO would follow a recent successful offering by another Southland realty firm, Arden Realty Group Inc. of Los Angeles.
