Kilroy Realty has managed to find stability during the pandemic, despite decelerating market fundamentals. On its third-quarter earnings call, Kilroy reported strong rent collections at 96% portfolio-wide and 98% for office assets only. The firm's nearly $2 billion development pipeline is also well leased and will continue to generate earnings through 2022.
"We continue to perform well and remained optimistic about the future. Here at KRC, we remain focused on several key areas that position us well to play both defense and offense over the coming months and years," said John Kilroy, CEO of Kilroy Realty, on the call. "These include; maintaining a strong financial foundation, proactively managing lease expirations and our stabilized portfolio, executing our under construction development projects, positioning our future development for starts, working with governmental agencies to influence policy as much as possible and preparing for a post-COVID future, which includes continuously enhancing the quality of our portfolio from a sustainability and wellness perspective."
Kilroy added that strong rent collections have been consistent throughout the pandemic, particularly in the company's life science and technology segment. "These strong rent collection levels have remained consistent across the seven months of the pandemic as our well-capitalized technology and life science tenant base continues to outperform," he said.
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