Kilroy Realty to redeem all series A preferreds with offering proceeds

By Tali David

Minneapolis, Aug. 6 - Kilroy Realty Corp. plans to use the proceeds from its preferred stock offering to redeem all of its operating partnership's series A preferred units, according to a 424B5 filing with the Securities and Exchange Commission.

The redemption price for the series A preferred units is $75 million plus accrued dividends.

Any remaining net proceeds will be used for general corporate purposes, including repaying borrowings under the operating partnership's revolving credit facility.

Kilroy is a Los Angeles-based real estate investment trust active in West Coast office and industrial submarkets.

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