Kilroy Closes Sale of Industrial and Office Properties
LOS ANGELES-Kilroy Realty Corp., a real estate investment trust based in Los Angeles, has sold its two small office projects and entire industrial portfolio for a total price of $355 million. Two undisclosed institutional buyers purchased the 44 properties totaling 3.7 million square feet located mostly in Orange County. The proceeds from the sale will be reinvested by the REIT into its West Coast office development program.
Kilroy Realty anticipates registering a gain of $185 million in the ongoing quarter. For the full story, go to Los Angeles Business Journal .
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