Kilroy Realty exercises accordion for additional $20 million

By William Gullotti

Buffalo, N.Y., March 9 – Kilroy Realty Corp. operating partnership Kilroy Realty, LP entered into a second amendment on March 6 to its unsecured term loan facility to exercise the accordion feature to provide for an additional $20 million of borrowings, according to an 8-K filing with the Securities and Exchange Commission.

No other terms of the agreement were changed as the amendment only pertained to the exercise of the accordion function.

After signing, the company had $200 million of outstanding term loans under the term agreement and unused lender commitments totaling $320 million. Subject to obtaining lender commitments and satisfaction of certain conditions, the operating partnership may request additional incremental term loan commitments of up to $130 million.

The term loan is provided for under a credit agreement dated Oct. 3, 2022 and amended Jan. 27 with JPMorgan Chase Bank, NA as administrative agent.

Kilroy is a real estate investment trust based in Los Angeles.

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