ADDED
As of February 6, 2026, 118,503,054 shares of Kilroy Realty Corporation s common stock, par value $.01 per share, were outstanding.
As of December 31, 2025, the Company owned an approximate 99.1% common general partnership interest in the Operating Partnership.
The remaining approximate 0.9% common limited partnership interests are owned by non-affiliated investors.
As the sole general partner of the Operating Partnership, the Company exercises exclusive and complete discretion over the Operating Partnership s day-to-day management and control.
The presentation of noncontrolling interests, stockholders equity, and partners capital are the main areas of difference between the consolidated financial statements of the Company and those of the Operating Partnership.
We own, develop, acquire, and manage real estate assets, consisting primarily of premier office and life science properties in the San Francisco Bay Area, Los Angeles, Seattle, San Diego, and Austin, which are markets we believe have strategic advantages and strong barriers to entry.
The remaining approximate 0.9% common limited partnership interest in the Operating Partnership as of December 31, 2025 was owned by non-affiliated investors.
With the exception of the Operating Partnership and property partnerships that we consolidate, all of our subsidiaries are wholly-owned.
Our stabilized portfolio includes all of our properties with the exception of development and redevelopment properties currently committed for construction, under construction, or in the tenant improvement phase, undeveloped land, and real estate assets held for sale, if any.
Our stabilized portfolio of operating properties was comprised of the following at December 31, 2025: Number of Buildings Rentable Square Feet Number of Tenants Percentage Occupied (1) Stabilized Office Properties (2) 121 16,292,164 438 81.6 % ________________________ (1) Represents economic occupancy for space where we have achieved revenue recognition for the associated lease agreements.
REMOVED
As of February 7, 2025, 118,136,676 shares of Kilroy Realty Corporation s common stock, par value $.01 per share, were outstanding.
As of December 31, 2024, the Company owned an approximate 99.0% common general partnership interest in the Operating Partnership.
The remaining approximate 1.0% common limited partnership interests are owned by non-affiliated investors and a former executive officer and director.
As the sole general partner of the Operating Partnership, the Company exercises exclusive and complete discretion over the Operating Partnership s day-to-day management and control and can cause it to enter into certain major transactions, including acquisitions, dispositions, and refinancings, and cause changes in its line of business, capital structure, and distribution policies.
There are a few differences between the Company and the Operating Partnership that are reflected in the disclosures in this Form 10-K.
The Company is a REIT, the only material asset of which is the partnership interests it holds in the Operating Partnership.
The Company itself is not directly obligated under any indebtedness, but generally guarantees all of the debt of the Operating Partnership.
The common limited partnership interests in the Operating Partnership are accounted for as partners capital in the Operating Partnership s financial statements and, to the extent not held by the Company, as noncontrolling interests in the Company s financial statements.
1 To help investors understand the significant differences between the Company and the Operating Partnership, this report presents the following separate sections for each of the Company and the Operating Partnership: Item 7.
The Company owns, develops, acquires, and manages real estate assets, consisting primarily of premier properties in Los Angeles, San Diego, the San Francisco Bay Area, Seattle, and Austin, which we believe have strategic advantages and strong barriers to entry.