LOS ANGELES-Kilroy Realty Corp. has arranged a $500 million lineof credit to be used for general corporate purposes, includingacquisition and development, the L.A.-based REIT says. Kilroy,which bought four properties in the second quarter, arranged thethree-year unsecured line of credit―plus a one-yearextension option―from a syndicated group of 17 US andinternational banks led by J.P. Morgan Securities Inc. and Banc ofAmerica Securities LLC. In addition to acquisitions anddevelopment, Kilroy plans to use the funds for redevelopmentprograms and repaying long-term debt.

Kilroy recently reported its financial results for the secondquarter, which showed that it closed on four separate officeproperty acquisitions totaling approximately 1.3 million squarefeet and $411.4 million during the quarter. The largest of thesewas 303 Second St., a 732,000-square-foot office project in theSouth Financial District of San Francisco that it bought forapproximately $233.3 million. The project was 89.7% occupied atJune 30.

The other threedeals, as reported previously on GlobeSt.com, includeda 99,000-square-foot office building near Children's Hospital ofOrange County in the City of Orange that is 100% occupied by asingle tenant, the 272,000-square-foot 2211 Michelson Dr. officetower in Irvine and three office buildings totaling 191,000 squarefeet in the Mission Valley submarket of San Diego.