"Kilroy Realty is shedding real estate that it believes is a drag to its portfolio and collecting hot properties, something it's done since Aman took the corner office."
"Aman noted that the campus is continuing to experience strong, broad based demand from the financial services and media and entertainment sectors, notably surpassing our original expectations."
"Kilroy's Los Angeles portfolio is about 79 percent leased, but Aman said it is seeing improved activity, a product of a slowly improving market and the significant portfolio repositioning work that we've done in L.A. over the last two years."
"The REIT isn't exiting L.A. but it is going to take advantage of interest in its West Coast properties with opportunistic sales."
Kilroy Realty is actively reshaping its portfolio by selling off underperforming assets and acquiring high-demand properties. CEO Angela Aman has led the company to sell two luxury apartment towers in Hollywood for over $200 million, emphasizing the right price for the sale. Recent transactions include selling an office building in Hollywood for $61 million and another in Santa Monica for $40 million. The company also purchased Maple Plaza in Beverly Hills for over $200 million, which has seen increased occupancy. Kilroy's Los Angeles portfolio is 79 percent leased, with improved market activity.
Read at therealdeal.com
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