We saw what we thought was an attractive opportunity, and we pursued it. And then just maybe one bigger picture one because I think in the last several conference calls, you guys have mentioned AI as a potential positive for San Francisco leasing activity. But I would also say, on the other side, the tale of two cities. So for us, we can accommodate 44,000 feet on 1 floor or 1.5 floors for a larger tenant in the 60,000-foot range. We didn't have to raise the term loan last year. Kilroy Realty Corporation (NYSE:KRC) Q1 2023 Earnings Conference Call April 27, 2023 1:00 PM ET, Bill Hutcheson - SVP, IR and Capital Markets, Rob Paratte - EVP, Leasing and Business Development, Good afternoon, and thank you for attending today's Kilroy Realty Corporation First Quarter 2023 Earnings Conference Call. Wallmine is a radically better financial terminal. One of the problems with the sublease space and that's not to say that these things are positive. REIT Pay | Stephen Schwarzman | John Kilroy Jr Over the last 20 years, insiders at Kilroy Realty have traded over $3,860,822 worth of Kilroy Realty stock. Please proceed. The next question comes from the line of Georgi Dinkov of Mizuho. This year has already been an active one for Essex in the Los Angeles area. With a 2018 salary of $3.2 million, $1.15 million in option awards, $3.4 million in nonequity incentive plan compensation and approximately $604,000 in all other compensation, Lorber had a decent year. How it plays out on rates? John Kilroy Thank you. As of 2 May 2020 he still owns at least 8,600 units of Kilroy Realty stock. But you have 2 years left on your loan. It looked like leasing was down in the quarter, but second gen lease was up take out last quarter found leasing. First and foremost, while we're seeing strong signs in the economy and remain optimistic, we would like to acknowledge that we are still facing cyclical and secular headwinds. And I can tell you, at Kilroy, we feel exactly the same way. We have also executed notable leases across our Bay Area and San Diego portfolios. So you're just going to keep seeing that trend. This $450 million mixed-use development broke ground in June and will take up an entire city block. As I previously mentioned, development spend for the remainder of the year is expected to be $325 million to $425 million. John has made over 13 trades of the Kilroy Realty stock since 2003, according to the Form 4 filled with the SEC. John? Is it -- it ends up being a slower leasing process at Kilroy Point? Thank you. John Kilroy Net Worth (2023) | wallmine John Kilroy Net Worth (2022) | wallmine Austin, our building is brand-new and all the leases that either just started or will start when the tenant improvements are done, and there's no termination right. As of the first quarter of 2023, the same-store pool represented 93% of our stabilized square footage. So the first quarter interest expense run rate needs to be adjusted if you were trying to use that as a starting point to project the balance of the year. We talked about Pac-12 that's moving out in the Bay Area in the third quarter. Mr. Kilroy has been involved in all aspects of commercial real estate acquisition, entitlement, development, construction, leasing, financing and dispositions for the Company and its predecessor since 1967. Today Elliman has 20 offices in the state, with 12 of those in Los Angeles County. And I think that while AI companies have made headlines, I don't think it's appreciated that. In our other markets like Seattle, I guess I'd say that other markets are going to react in different ways, meaning some will recover quicker than others. I don't know. Some of it is taking a little longer to get signed off on. John Kilroy Net Worth The estimated Net Worth of John B Sr Kilroy is at least Kilroy Realty stock worth over $401,107 and over the last 18 years he sold KRC stock worth over $0. Let me give you a backdrop on South San Francisco. But sometimes, I overruled them and I would come up on deck and I could tell it made him feel a little bit on edgy because kind of to have two captains on deck at the same time. And if we should think about for Phase 2 there, voice [ph] your point? Wallmine is a radically better financial terminal. Our capital requirements for the remainder of the year are $325 million to $425 million of development spend. John Kilroy Net Worth This pay package consisted of a $725,000 salary, a bonus of $290,000, $3.8 million in stock awards, approximately $1.2 million in nonequity incentive plan compensation and $15,060 in other compensation. But of course for chairmen and CEOs, salary is only a portion of the take-home pay, with bonuses and dividends significantly boosting their personal bottom lines. $18.51M on June 27, 2014. Maintaining a strong balance sheet and opportunistically evaluating alternative sources of capital to further enhance our already significant liquidity position, providing certainty to our tenant base in today's environment. John Kilroy Net Worth The estimated Net Worth of John B Jr Kilroy is at least Kilroy Realty stock worth over $327,402 and over the last 19 years he sold KRC stock In 2018, CEO and president Michael Schall took home $5.4 million in total compensation from Essex Property Trust, up from his 2017 take-home pay of $4.6 million. The most recent stock trade was executed by Dale F Kinsella on 2 February 2005, trading 5,000 units of KRC stock currently worth $101,900. And so if you think about AI helping somebody code or an engineer, right? Okay. This building fits and I'll pay up for it and just building even though it's cheap, I don't want it. So some of these things have been approved by senior management two or three times, and it just takes a while. I want to emphasize that we have no debt maturities until December of 2024 and limited interest rate exposure with over 90% of our debt fixed. So I know more about some of these companies' plans, and I can share or we do. Bill, you may now proceed. The Bay Area, in particular, has been the birthplace of many of these businesses and AI is no exception as over 40% of AI companies are based in the region. The estimated Net Worth of John B Jr Kilroy is at least $15 dollars as of 2 May 2020. And lastly, as I'm sure you all saw, last month, I announced my retirement effective at the end of the year. I think what's going to happen is back office kind of things are going to be decimated. And I think one thing I'd remind you of also is that, as you've seen before, whether it's our exchange project or others, they can play both ways. We purposefully built the company to make sure that we have plenty of liquidity and a great balance sheet if we ended up with headwinds, and we do have headwinds. I might point out that I didn't in my comments, this is John speaking, by the way, is that we've been exceeding our pro forma rents quite substantially there. EQ Office has also been shedding properties. San Jose. On average, John trades about 5,921 units every 139 days since 2003. Thank you for the explanation and taking my question. And - my old thing about team and teamwork has been pretty transparent, whether it's been in the sailings that was successful in or whether it's in an enterprise like Kilroy is that one of the benefits you have when you have a strong team that works well together is you can talk about who might be the next leader, whether it be from the inside or out in good opinions and it makes a stronger process. We clarified the footnote. FFO was $1.22 per share in the first quarter, the highest quarterly FFO in the company's history. I can't speak too specifically because we signed an NDA when we looked at some of the stuff. The next question comes from the line of Blaine Heck of Wells Fargo. [indiscernible] lot of the decisions to get made here, it may ultimately come down sometimes to me making the final decision. Good morning and John, congratulations on building a great real estate company. I have a big mouth. The traffic has gone up, et cetera, et cetera. As we discussed on prior calls, physical occupancy in our portfolio continues to trend up and the share of job postings that are remote has been trending down. Excluding this nonrecurring revenue, same-store NOI would have been up about 9%. And any characteristics you could share as far as your preference for a successor? Given the high sublet space, do you see any downside risk in terms of early terminations? John Kilroy Net Worth (2022) | wallmine And - there definitely is a - I think it's a very healthy view coming out, which is we don't need to own everything ourselves. WebMr. Thank you for joining us. Or just how we should think about potential sales, JVs, types of assets you're thinking about? And with that, we will conclude today's conference call. There are 1 older and 16 younger executives at Kilroy Realty. But any time people don't proceed with new development generally is good for existing product, right. Somebody's smarter than me. WebJohn B Kilroy is Chairman/CEO at Kilroy Realty Corp. See John B Kilroy's compensation, career history, education, & memberships. People were all over the place, looking at Salesforce Tower next door in their lobby from where my office is, it was the same thing there, the same thing over $350 million and you just see so many more people. And many of those, we had no CapEx. I don't know, I'm Chairman for now. John T Kilroy, 74 years old, born in Jul 1948. And again, what we found is that the best sublease space in any market is going quickly. . And they just decided it didn't work for their workforce. To clarify, you're not necessarily going to stand as Chairman? I was with a major tech executive yesterday and last evening for dinner. But against that backdrop, that's also a question to how much availability is there. And again, I'll remind you, it's situated in just at the Denny Regrade [ph] which is on the border of South Lake Union, where all the technology companies are, not just Amazon. From a real estate perspective, we have seen the implications of the current economic backdrop translate into near-term obstacles. We'll probably get a few inquiries occasionally. We are comprised of a team of digital learning specialists with a passion for helping professionals reach their potential through digital learning design courses. But now it's become a much bigger factor with regard to just what people want for their student body. John B. Kilroy, Jr. owns about 1,035,923 units of Kilroy Realty Corp common stock. Not known Robert's mother Rose remarried in 1946, to family friend John Francis Kilroy, a car worker at the Rootes plant in Warwickshire. I think you're right. I'm not sure they're a CBD tenant, but Austin continues to attract companies that are not located there and the companies that are in Austin are, I would say, being cautious about taking new space, but the conversations we've had indicate that they want to bring more people to that market. In addition, he makes 12,086,000$ as Chairman of the Board Chief Executive Officer at Kilroy Realty. Late last year, Equity Residential made a long-term investment in going green. I'm always a smart, [indiscernible]. So I think AI is just one segment of where innovation and creativity and what we're all known for in the United States in terms of entrepreneurial spirit are going to go. Thanks. In March The largest trade he's ever made was exercising 50,000 units of Kilroy Realty stock on 20 August 2003 worth over $1,150,000. The Company has over 70 years of experience developing, acquiring and managing office and mixed-use real estate assets. Yes. The oldest executive at Kilroy Realty Corp. is John B. Kilroy Jr., 72, who is the CEO & Chairman.

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