Kilroy Realty Reports Strong Start to 2025

Kilroy Realty ( (KRC) ) has released its Q1 earnings. Here is a breakdown of the information Kilroy Realty presented to its investors.

Kilroy Realty Corporation is a publicly traded real estate investment trust (REIT) specializing in office, life science, and mixed-use projects, primarily on the West Coast of the United States. The company is recognized for its commitment to sustainability and innovative building practices.

Kilroy Realty has reported its financial results for the first quarter of 2025, showing a robust start to the year despite market volatility. The company highlighted strong leasing activity and progress in its development projects, positioning itself to benefit from the ongoing recovery in the West Coast office market.

In the first quarter of 2025, Kilroy Realty generated revenues of $270.8 million, a slight decrease from $278.6 million in the same period last year. Net income available to common stockholders was $39.0 million, down from $49.9 million in the previous year. The company’s Funds From Operations (FFO) also saw a decline to $122.3 million from $133.7 million in the first quarter of 2024. The leasing activity was notable, with approximately 248,000 square feet of leases signed during the quarter, although rent levels on new leases decreased compared to previous rates.

Kilroy Realty also made significant strides in its development projects, with the Kilroy Oyster Point Phase 2 moving to the tenant improvement phase. Additionally, the company entered into an agreement to sell a portion of its Santa Fe Summit site in San Diego, which is expected to close in 2026.

Looking ahead, Kilroy Realty remains optimistic about its future prospects, maintaining its full-year 2025 FFO guidance. The company continues to focus on leveraging its high-quality portfolio to capitalize on the West Coast office market recovery while maintaining its commitment to sustainability and innovation.