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LOS ANGELES-Kilroy Realty Corp. has received an $18.3 million payment from San Diego-based software developer Peregrine Systems Inc. as part of a previously announced settlement resulting from Peregrine’s 2002 bankruptcy filing, according to an announcement by Kilroy late Thursday.

The Los Angeles-based real estate investment trust says that, as part of the settlement, Kilroy will also receive approximately $750,000 to be paid annually in August over the next four years.

After Peregrine filed for Chapter 11 bankruptcy protection last year, the software developer rejected three of its leases with Kilroy under regulations that permit a bankrupt tenant to choose which leases it wants to continue and which it wants to reject. The $18.3 million payment was one of a series of actions approved by the federal bankruptcy court recently in connection with the Peregrine Chapter 11 filing, according to Kilroy’s recent earnings report for the second quarter. The REIT recorded net income of $13.4 million, or 49 cents per share, compared to $5 million, or 18 cents per share, in the second quarter of 2002. Funds from operations in the second quarter totaled $24.9 million, or 78 cents per share, compared to $23.4 million, or 73 cents per share, in the previous year’s second quarter.

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