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Kilroy Realty pays $670m for three assets
Transactions - JUNE 17, 2021

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Kilroy Realty pays $670m for three assets

by Andrea Zander

Kilroy Realty Corp. has reached agreement in three separate off-market transactions totaling approximately $670 million. The assets include the Indeed Tower in Austin, a land site adjacent to its 2100 Kettner development project in San Diego and the ground lease under its Key Center office tower in Bellevue, Wash. All three transactions are expected to close by the end of the third quarter and are subject to certain closing conditions.

The $580 million acquisition of Indeed Tower, a new, premier Austin office project, will bring immediate financial and strategic benefits to the company, including the opportunity to grow earnings and create value through additional lease-up, the creation of a platform for future growth in the region and the enhancement of the company’s already strong tenant credit profile.

Indeed Tower, completed in May 2021, is a LEED Platinum targeted, 36-story office project totaling approximately 730,000 square feet located in the heart of A

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