KILROY REALTY CORP, 10-K filed on 2/11/2026
Annual Report
v3.25.4
Cover Page - USD ($)
12 Months Ended
Dec. 31, 2025
Feb. 06, 2026
Jun. 30, 2025
Entity Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 1-12675    
Entity Registrant Name KILROY REALTY CORPORATION    
Entity Incorporation, State or Country Code MD    
Entity Tax Identification Number 95-4598246    
Entity Address, Address Line One 12200 W. Olympic Boulevard    
Entity Address, Address Line Two Suite 200    
Entity Address, City or Town Los Angeles    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 90064    
City Area Code (310)    
Local Phone Number 481-8400    
Title of 12(b) Security Common Stock, $.01 par value    
Security Exchange Name NYSE    
Trading Symbol KRC    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Public Float     $ 4,045,451,305
Entity Common Stock, Shares Outstanding   118,503,054  
Documents Incorporated by Reference
Portions of the Kilroy Realty Corporation’s Proxy Statement with respect to its 2026 Annual Meeting of Stockholders to be filed not later than 120 days after the end of the registrant’s fiscal year are incorporated by reference into Part III of this Form 10-K.
   
Entity Central Index Key 0001025996    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag false    
Kilroy Realty L.P.      
Entity Information [Line Items]      
Current Fiscal Year End Date --12-31    
Entity File Number 000-54005    
Entity Registrant Name KILROY REALTY, L.P.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 95-4612685    
Title of 12(g) Security Common Units Representing Limited Partnership Interests    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Central Index Key 0001493976    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.25.4
Audit Information
12 Months Ended
Dec. 31, 2025
Entity Information [Line Items]  
Auditor Name Deloitte & Touche LLP
Auditor Firm ID 34
Auditor Location Los Angeles, California
Kilroy Realty L.P.  
Entity Information [Line Items]  
Auditor Name Deloitte & Touche LLP
Auditor Firm ID 34
Auditor Location Los Angeles, California
v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Real estate assets:    
Land $ 1,641,913 $ 1,750,820
Buildings and improvements 8,505,486 8,598,751
Undeveloped land and construction in progress 2,387,742 2,309,624
Total real estate assets held for investment 12,535,141 12,659,195
Accumulated depreciation and amortization (2,843,811) (2,824,616)
Total real estate assets held for investment, net 9,691,330 9,834,579
Real estate and other assets held for sale, net 115,155 0
Cash and cash equivalents 179,316 165,690
Marketable securities 30,807 27,965
Current receivables (net of allowances of $244 and $314 as of December 31, 2025 and 2024, respectively) 12,765 11,033
Deferred rent receivables, net 424,794 451,996
Deferred leasing costs and acquisition-related intangible assets, net 278,232 225,937
Right of use ground lease assets, net 128,116 129,222
Prepaid expenses and other assets, net 54,561 51,935
Total assets 10,915,076 10,898,357
Liabilities:    
Secured debt, net 592,685 598,199
Unsecured debt, net 3,996,774 3,999,566
Accounts payable, accrued expenses, and other liabilities 288,963 285,011
Ground lease liabilities 127,628 128,422
Accrued dividends and distributions 65,009 64,850
Deferred revenue and acquisition-related intangible liabilities, net 125,628 142,437
Rents received in advance and tenant security deposits 75,701 71,003
Liabilities related to real estate assets held for sale 4,945 0
Total liabilities 5,277,333 5,289,488
Commitments and contingencies (Note 17)
Stockholders’ Equity:    
Common stock, $.01 par value, 280,000,000 shares authorized, 118,372,451 and 118,046,674 shares issued and outstanding 1,184 1,181
Additional paid-in capital 5,230,747 5,209,653
Retained earnings 188,876 171,212
Total stockholders’ equity 5,420,807 5,382,046
Noncontrolling Interests:    
Common units of the Operating Partnership 51,911 52,472
Consolidated property partnerships 165,025 174,351
Total noncontrolling interests 216,936 226,823
Total equity 5,637,743 5,608,869
Total liabilities and equity $ 10,915,076 $ 10,898,357
v3.25.4
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Current receivables, net of allowances $ 244 $ 314
Common stock, par value ( in dollars per share) $ 0.01 $ 0.01
Common stock, authorized (in shares) 280,000,000 280,000,000
Common stock, shares issued (in shares) 118,372,451 118,046,674
Common stock, shares outstanding (in shares) 118,372,451 118,046,674
v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Revenue, Product and Service [Extensible List] Service [Member] Service [Member] Service [Member]
Revenues:      
Rental income $ 1,093,587 $ 1,118,115 $ 1,117,737
Other property income 19,080 17,514 11,957
Total revenues 1,112,667 1,135,629 1,129,694
Expenses:      
Property expenses 243,726 243,441 228,964
Real estate taxes 107,564 108,951 105,868
Ground leases 12,048 11,715 9,732
General and administrative expenses 73,108 71,074 94,264
Leasing costs 10,352 8,764 6,506
Depreciation and amortization 354,854 356,182 355,278
Total expenses 801,652 800,127 800,612
Other Income (Expenses):      
Interest income 6,970 37,752 22,592
Interest expense (126,292) (145,287) (114,216)
Other income (expense) 168 (992) 830
Gains on sales of depreciable operating properties 127,038 0 0
Impairment of real estate assets (16,259) 0 0
Gain on sale of long-lived assets 0 5,979 0
Total other expenses (8,375) (102,548) (90,794)
Net income 302,640 232,954 238,288
Net income attributable to noncontrolling common units of the Operating Partnership (2,682) (2,062) (2,083)
Net income attributable to noncontrolling interests in consolidated property partnerships (23,837) (19,923) (23,964)
Total net income attributable to noncontrolling interests (26,519) (21,985) (26,047)
Net income available to common stockholders $ 276,121 $ 210,969 $ 212,241
Net income available to common stockholders per share - basic ( in dollars per share) $ 2.33 $ 1.78 $ 1.80
Net income available to common stockholders per share - diluted (in dollars per share) $ 2.32 $ 1.77 $ 1.80
Weighted average common units outstanding - basic (in shares) 118,278,990 117,649,111 117,160,173
Weighted average shares of common stock outstanding – diluted (in shares) 118,832,035 118,156,987 117,506,255
v3.25.4
CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Total Stock- holders’ Equity
Common Stock
Additional Paid-in Capital
Retained Earnings (Distributions in Excess of Earnings)
Noncontrolling  Interests
Beginning balance (in shares) at Dec. 31, 2022     116,878,031      
Beginning balance at Dec. 31, 2022 $ 5,674,961 $ 5,437,047 $ 1,169 $ 5,170,760 $ 265,118 $ 237,914
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 238,288 212,241     212,241 26,047
Issuance of share-based compensation awards 3,110 3,110   3,110    
Non-cash amortization of share-based compensation 43,721 43,721   43,721    
Net settlement of restricted stock units for shares of common stock (in shares)     361,527      
Net settlement of restricted stock units for shares of common stock (11,595) (11,595) $ 4 (11,599)    
Distributions to noncontrolling interests in consolidated property partnerships (30,097)         (30,097)
Adjustment for noncontrolling interest in the Operating Partnership 0 (153)   (153)   153
Dividends declared per share of common stock and common unit (258,695) (256,210)     (256,210) (2,485)
Ending balance (in shares) at Dec. 31, 2023     117,239,558      
Ending balance at Dec. 31, 2023 5,659,693 5,428,161 $ 1,173 5,205,839 221,149 231,532
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 232,954 210,969     210,969 21,985
Issuance of share-based compensation awards 6,675 6,675   6,675    
Non-cash amortization of share-based compensation 24,402 24,402   24,402    
Net settlement of restricted stock units for shares of common stock (in shares)     807,116      
Net settlement of restricted stock units for shares of common stock (27,636) (27,636) $ 8 (27,644)    
Distributions to noncontrolling interests in consolidated property partnerships (23,829)         (23,829)
Adjustment for noncontrolling interest in the Operating Partnership 0 381   381   (381)
Dividends declared per share of common stock and common unit $ (263,390) (260,906)     (260,906) (2,484)
Ending balance (in shares) at Dec. 31, 2024 118,046,674   118,046,674      
Ending balance at Dec. 31, 2024 $ 5,608,869 5,382,046 $ 1,181 5,209,653 171,212 226,823
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 302,640 276,121     276,121 26,519
Issuance of share-based compensation awards 2,913 2,913   2,913    
Non-cash amortization of share-based compensation 23,968 23,968   23,968    
Net settlement of restricted stock units for shares of common stock (in shares)     308,765      
Net settlement of restricted stock units for shares of common stock (6,551) (6,551) $ 3 (6,554)    
Exchange of common units of the Operating Partnership (in shares)     17,012      
Exchange of common units of the Operating Partnership 0 714   714   (714)
Distributions to noncontrolling interests in consolidated property partnerships (33,163)         (33,163)
Adjustment for noncontrolling interest in the Operating Partnership 0 53   53   (53)
Dividends declared per share of common stock and common unit $ (260,933) (258,457)     (258,457) (2,476)
Ending balance (in shares) at Dec. 31, 2025 118,372,451   118,372,451      
Ending balance at Dec. 31, 2025 $ 5,637,743 $ 5,420,807 $ 1,184 $ 5,230,747 $ 188,876 $ 216,936
v3.25.4
CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]      
Dividends declared per share of common stock and common unit ( in dollars per share) $ 2.16 $ 2.16 $ 2.16
v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 302,640 $ 232,954 $ 238,288
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of real estate assets and leasing costs 349,271 349,828 348,064
Depreciation of non-real estate furniture, fixtures, and equipment 5,583 6,354 7,214
Revenues deemed uncollectible 1,518 2,416 11,553
Non-cash amortization of deferred revenue related to tenant-funded tenant improvements (14,644) (17,605) (19,181)
Straight-line rents, net 11,628 3,160 (19,262)
Non-cash amortization of net below-market rents (3,079) (3,521) (6,648)
Non-cash amortization of deferred financing costs and debt discounts 4,777 6,893 5,200
Non-cash amortization of share-based compensation awards 19,090 17,714 36,858
Amortization of right of use ground lease assets 1,106 1,066 1,024
Gains on sales of depreciable operating properties (127,038) 0 0
Impairment of real estate assets 16,259 0 0
Gain on sale of long-lived assets 0 (5,979) 0
Net change in other operating assets (11,326) 1,894 2,322
Net change in other operating liabilities 10,528 (54,025) (2,843)
Net cash provided by operating activities 566,313 541,149 602,589
Cash flows from investing activities:      
Expenditures for development and redevelopment properties and undeveloped land (174,687) (365,521) (446,426)
Expenditures for operating properties and other capital assets (116,025) (100,303) (97,393)
Expenditures for acquisitions of operating properties (397,251) (35,155) 0
Net proceeds received from dispositions of real estate assets 447,938 0 0
Net proceeds received from disposition of long-lived assets 0 19,354 0
Maturity (Purchases) of certificates of deposit 0 256,581 (256,581)
Net cash used in investing activities (240,025) (225,044) (800,400)
Cash flows from financing activities:      
Distributions to noncontrolling interests in consolidated property partnerships (33,163) (23,829) (30,097)
Dividends and distributions paid to common stockholders and common unitholders (257,861) (256,306) (255,430)
Taxes paid upon net share settlement of restricted share units (6,551) (27,636) (11,595)
Financing costs (4,805) (18,605) (10,924)
Principal payments and repayments of secured debt (6,246) (6,006) (5,775)
Proceeds from the issuance of unsecured debt 395,964 395,516 0
Proceeds from the issuance of secured debt 0 0 375,000
Repayments of unsecured debt (400,000) (723,712) 0
Borrowings on unsecured debt 0 0 320,000
Repurchases of unsecured debt 0 0 (20,584)
Borrowings on unsecured revolving credit facility 65,000 0 0
Repayments on unsecured revolving credit facility (65,000) 0 0
Net cash (used in) provided by financing activities (312,662) (660,578) 360,595
Net increase (decrease) in cash and cash equivalents and restricted cash 13,626 (344,473) 162,784
Cash and cash equivalents and restricted cash, beginning of year 165,690 510,163 347,379
Cash and cash equivalents and restricted cash, end of year $ 179,316 $ 165,690 $ 510,163
v3.25.4
CONSOLIDATED BALANCE SHEETS (KILROY REALTY, L.P.) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Real estate assets:    
Land $ 1,641,913 $ 1,750,820
Buildings and improvements 8,505,486 8,598,751
Undeveloped land and construction in progress 2,387,742 2,309,624
Total real estate assets held for investment 12,535,141 12,659,195
Accumulated depreciation and amortization (2,843,811) (2,824,616)
Total real estate assets held for investment, net 9,691,330 9,834,579
Real estate and other assets held for sale, net 115,155 0
Cash and cash equivalents 179,316 165,690
Marketable securities 30,807 27,965
Current receivables (net of allowances of $244 and $314 as of December 31, 2025 and 2024, respectively) 12,765 11,033
Deferred rent receivables, net 424,794 451,996
Deferred leasing costs and acquisition-related intangible assets, net 278,232 225,937
Right of use ground lease assets, net 128,116 129,222
Prepaid expenses and other assets, net 54,561 51,935
Total assets 10,915,076 10,898,357
Liabilities:    
Secured debt, net 592,685 598,199
Unsecured debt, net 3,996,774 3,999,566
Accounts payable, accrued expenses, and other liabilities 288,963 285,011
Ground lease liabilities 127,628 128,422
Accrued distributions 65,009 64,850
Deferred revenue and acquisition-related intangible liabilities, net 125,628 142,437
Rents received in advance and tenant security deposits 75,701 71,003
Liabilities related to real estate assets held for sale 4,945 0
Total liabilities 5,277,333 5,289,488
Commitments and contingencies (Note 17)
Capital:    
Consolidated property partnerships 165,025 174,351
Total liabilities and equity 10,915,076 10,898,357
Kilroy Realty L.P.    
Real estate assets:    
Land 1,641,913 1,750,820
Buildings and improvements 8,505,486 8,598,751
Undeveloped land and construction in progress 2,387,742 2,309,624
Total real estate assets held for investment 12,535,141 12,659,195
Accumulated depreciation and amortization (2,843,811) (2,824,616)
Total real estate assets held for investment, net 9,691,330 9,834,579
Real estate and other assets held for sale, net 115,155 0
Cash and cash equivalents 179,316 165,690
Marketable securities 30,807 27,965
Current receivables (net of allowances of $244 and $314 as of December 31, 2025 and 2024, respectively) 12,765 11,033
Deferred rent receivables, net 424,794 451,996
Deferred leasing costs and acquisition-related intangible assets, net 278,232 225,937
Right of use ground lease assets, net 128,116 129,222
Prepaid expenses and other assets, net 54,561 51,935
Total assets 10,915,076 10,898,357
Liabilities:    
Secured debt, net 592,685 598,199
Unsecured debt, net 3,996,774 3,999,566
Accounts payable, accrued expenses, and other liabilities 288,963 285,011
Ground lease liabilities 127,628 128,422
Accrued distributions 65,009 64,850
Deferred revenue and acquisition-related intangible liabilities, net 125,628 142,437
Rents received in advance and tenant security deposits 75,701 71,003
Liabilities related to real estate assets held for sale 4,945 0
Total liabilities 5,277,333 5,289,488
Commitments and contingencies (Note 17)
Capital:    
Partner’s Capital - Common units, 118,372,451 and 118,046,674 held by the general partner and 1,133,562 and 1,150,574 held by common limited partners issued and outstanding (Note 13) 5,472,718 5,434,518
Consolidated property partnerships 165,025 174,351
Total capital 5,637,743 5,608,869
Total liabilities and equity $ 10,915,076 $ 10,898,357
v3.25.4
CONSOLIDATED BALANCE SHEETS (KILROY REALTY, L.P.) (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current receivables, net of allowances $ 244 $ 314
Kilroy Realty L.P.    
Current receivables, net of allowances $ 244 $ 314
Common Units | Kilroy Realty L.P.    
General partner, units issued (in shares) 118,372,451 118,046,674
General partner, units outstanding (in shares) 118,372,451 118,046,674
Limited partner, units issued (in shares) 1,133,562 1,150,574
Limited partner, units outstanding (in shares) 1,133,562 1,150,574
v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS (KILROY REALTY, L.P.) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue, Product and Service [Extensible List] Service [Member] Service [Member] Service [Member]
Revenues:      
Rental income $ 1,093,587 $ 1,118,115 $ 1,117,737
Other property income 19,080 17,514 11,957
Total revenues 1,112,667 1,135,629 1,129,694
Expenses:      
Property expenses 243,726 243,441 228,964
Real estate taxes 107,564 108,951 105,868
Ground leases 12,048 11,715 9,732
General and administrative expenses 73,108 71,074 94,264
Leasing costs 10,352 8,764 6,506
Depreciation and amortization 354,854 356,182 355,278
Total expenses 801,652 800,127 800,612
Other Income (Expenses):      
Interest income 6,970 37,752 22,592
Interest expense (126,292) (145,287) (114,216)
Other income (expense) 168 (992) 830
Gains on sales of depreciable operating properties 127,038 0 0
Impairment of real estate assets (16,259) 0 0
Gain on sale of long-lived assets 0 5,979 0
Total other expenses (8,375) (102,548) (90,794)
Net income 302,640 232,954 238,288
Net income attributable to noncontrolling interests in consolidated property partnerships (26,519) (21,985) (26,047)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS (UNITHOLDERS) $ 276,121 $ 210,969 $ 212,241
Net income available to common stockholders per share - basic ( in dollars per share) $ 2.33 $ 1.78 $ 1.80
Net income available to common stockholders per share - diluted (in dollars per share) $ 2.32 $ 1.77 $ 1.80
Weighted average common units outstanding - basic (in shares) 118,278,990 117,649,111 117,160,173
Weighted average common units outstanding - diluted (in shares) 118,832,035 118,156,987 117,506,255
Kilroy Realty L.P.      
Revenue, Product and Service [Extensible List] Service [Member] Service [Member] Service [Member]
Revenues:      
Rental income $ 1,093,587 $ 1,118,115 $ 1,117,737
Other property income 19,080 17,514 11,957
Total revenues 1,112,667 1,135,629 1,129,694
Expenses:      
Property expenses 243,726 243,441 228,964
Real estate taxes 107,564 108,951 105,868
Ground leases 12,048 11,715 9,732
General and administrative expenses 73,108 71,074 94,264
Leasing costs 10,352 8,764 6,506
Depreciation and amortization 354,854 356,182 355,278
Total expenses 801,652 800,127 800,612
Other Income (Expenses):      
Interest income 6,970 37,752 22,592
Interest expense (126,292) (145,287) (114,216)
Other income (expense) 168 (992) 830
Gains on sales of depreciable operating properties 127,038 0 0
Impairment of real estate assets (16,259) 0 0
Gain on sale of long-lived assets 0 5,979 0
Total other expenses (8,375) (102,548) (90,794)
Net income 302,640 232,954 238,288
Net income attributable to noncontrolling interests in consolidated property partnerships (23,837) (19,923) (23,964)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS (UNITHOLDERS) $ 278,803 $ 213,031 $ 214,324
Net income available to common stockholders per share - basic ( in dollars per share) $ 2.33 $ 1.78 $ 1.80
Net income available to common stockholders per share - diluted (in dollars per share) $ 2.32 $ 1.77 $ 1.80
Weighted average common units outstanding - basic (in shares) 119,428,865 118,799,685 118,310,747
Weighted average common units outstanding - diluted (in shares) 119,981,910 119,307,561 118,656,829
v3.25.4
CONSOLIDATED STATEMENTS OF CAPITAL (KILROY REALTY, L.P.) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Net income $ 302,640 $ 232,954 $ 238,288
Non-cash amortization of share-based compensation 23,968 24,402 43,721
Net settlement of restricted stock units for shares of common stock (6,551) (27,636) (11,595)
Distributions to noncontrolling interests in consolidated property partnerships (33,163) (23,829) (30,097)
Noncontrolling Interests in Consolidated Property Partnerships and Subsidiaries      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Net income 26,519 21,985 26,047
Distributions to noncontrolling interests in consolidated property partnerships (33,163) (23,829) (30,097)
Kilroy Realty L.P.      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance 5,608,869 5,659,693 5,674,961
Net income 302,640 232,954 238,288
Issuance of share-based compensation awards 2,913 6,675 3,110
Non-cash amortization of share-based compensation 23,968 24,402 43,721
Net settlement of restricted stock units for shares of common stock (6,551) (27,636) (11,595)
Distributions to noncontrolling interests in consolidated property partnerships (33,163) (23,829) (30,097)
Distributions declared per common unit (260,933) (263,390) (258,695)
Ending balance $ 5,637,743 $ 5,608,869 $ 5,659,693
Kilroy Realty L.P. | Partners’ Capital      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance (in shares) 119,197,248 118,390,132 118,028,605
Beginning balance $ 5,434,518 $ 5,481,436 $ 5,490,571
Net income 278,803 213,031 214,324
Issuance of share-based compensation awards 2,913 6,675 3,110
Non-cash amortization of share-based compensation $ 23,968 $ 24,402 $ 43,721
Net settlement of restricted stock units (in shares) 308,765 807,116 361,527
Net settlement of restricted stock units for shares of common stock $ (6,551) $ (27,636) $ (11,595)
Distributions declared per common unit $ (260,933) $ (263,390) $ (258,695)
Ending balance (in shares) 119,506,013 119,197,248 118,390,132
Ending balance $ 5,472,718 $ 5,434,518 $ 5,481,436
Kilroy Realty L.P. | Noncontrolling Interests in Consolidated Property Partnerships and Subsidiaries      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance 174,351 178,257 184,390
Net income 23,837 19,923 23,964
Distributions to noncontrolling interests in consolidated property partnerships (33,163) (23,829) (30,097)
Ending balance $ 165,025 $ 174,351 $ 178,257
v3.25.4
CONSOLIDATED STATEMENTS OF CAPITAL (KILROY REALTY, L.P.) (Parenthetical) - $ / shares
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Kilroy Realty L.P.      
Distributions declared per common unit (dollars per share) $ 2.16 $ 2.16 $ 2.16
v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS (KILROY REALTY, L.P.) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 302,640 $ 232,954 $ 238,288
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of real estate assets and leasing costs 349,271 349,828 348,064
Depreciation of non-real estate furniture, fixtures, and equipment 5,583 6,354 7,214
Revenues deemed uncollectible 1,518 2,416 11,553
Non-cash amortization of deferred revenue related to tenant-funded tenant improvements (14,644) (17,605) (19,181)
Straight-line rents, net 11,628 3,160 (19,262)
Non-cash amortization of net below-market rents (3,079) (3,521) (6,648)
Non-cash amortization of deferred financing costs and net debt discounts 4,777 6,893 5,200
Non-cash amortization of share-based compensation awards 19,090 17,714 36,858
Amortization of right of use ground lease assets 1,106 1,066 1,024
Gains on sales of depreciable operating properties (127,038) 0 0
Impairment of real estate assets 16,259 0 0
Gain on sale of long-lived assets 0 (5,979) 0
Net change in other operating assets (11,326) 1,894 2,322
Net change in other operating liabilities 10,528 (54,025) (2,843)
Net cash provided by operating activities 566,313 541,149 602,589
Cash flows from investing activities:      
Expenditures for development and redevelopment properties and undeveloped land (174,687) (365,521) (446,426)
Expenditures for operating properties and other capital assets (116,025) (100,303) (97,393)
Expenditures for acquisitions of operating properties (397,251) (35,155) 0
Net proceeds received from dispositions of real estate assets 447,938 0 0
Net proceeds received from disposition of long-lived assets 0 19,354 0
Maturity (Purchases) of certificates of deposit 0 256,581 (256,581)
Net cash used in investing activities (240,025) (225,044) (800,400)
Cash flows from financing activities:      
Distributions to noncontrolling interests in consolidated property partnerships (33,163) (23,829) (30,097)
Distributions paid to common unitholders (257,861) (256,306) (255,430)
Taxes paid upon net share settlement of restricted share units (6,551) (27,636) (11,595)
Financing costs (4,805) (18,605) (10,924)
Principal payments and repayments of secured debt (6,246) (6,006) (5,775)
Proceeds from the issuance of unsecured debt 395,964 395,516 0
Proceeds from the issuance of secured debt 0 0 375,000
Repayments of unsecured debt (400,000) (723,712) 0
Borrowings on unsecured debt 0 0 320,000
Repurchases of unsecured debt 0 0 (20,584)
Borrowings on unsecured revolving credit facility 65,000 0 0
Repayments on unsecured revolving credit facility (65,000) 0 0
Net cash (used in) provided by financing activities (312,662) (660,578) 360,595
Net increase (decrease) in cash and cash equivalents and restricted cash 13,626 (344,473) 162,784
Cash and cash equivalents and restricted cash, beginning of year 165,690 510,163 347,379
Cash and cash equivalents and restricted cash, end of year 179,316 165,690 510,163
Kilroy Realty L.P.      
Cash flows from operating activities:      
Net income 302,640 232,954 238,288
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of real estate assets and leasing costs 349,271 349,828 348,064
Depreciation of non-real estate furniture, fixtures, and equipment 5,583 6,354 7,214
Revenues deemed uncollectible 1,518 2,416 11,553
Non-cash amortization of deferred revenue related to tenant-funded tenant improvements (14,644) (17,605) (19,181)
Straight-line rents, net 11,628 3,160 (19,262)
Non-cash amortization of net below-market rents (3,079) (3,521) (6,648)
Non-cash amortization of deferred financing costs and net debt discounts 4,777 6,893 5,200
Non-cash amortization of share-based compensation awards 19,090 17,714 36,858
Amortization of right of use ground lease assets 1,106 1,066 1,024
Gains on sales of depreciable operating properties (127,038) 0 0
Impairment of real estate assets 16,259 0 0
Gain on sale of long-lived assets 0 (5,979) 0
Net change in other operating assets (11,326) 1,894 2,322
Net change in other operating liabilities 10,528 (54,025) (2,843)
Net cash provided by operating activities 566,313 541,149 602,589
Cash flows from investing activities:      
Expenditures for development and redevelopment properties and undeveloped land (174,687) (365,521) (446,426)
Expenditures for operating properties and other capital assets (116,025) (100,303) (97,393)
Expenditures for acquisitions of operating properties (397,251) (35,155) 0
Net proceeds received from dispositions of real estate assets 447,938 0 0
Net proceeds received from disposition of long-lived assets 0 19,354 0
Maturity (Purchases) of certificates of deposit 0 256,581 (256,581)
Net cash used in investing activities (240,025) (225,044) (800,400)
Cash flows from financing activities:      
Distributions to noncontrolling interests in consolidated property partnerships (33,163) (23,829) (30,097)
Distributions paid to common unitholders (257,861) (256,306) (255,430)
Taxes paid upon net share settlement of restricted share units (6,551) (27,636) (11,595)
Financing costs (4,805) (18,605) (10,924)
Principal payments and repayments of secured debt (6,246) (6,006) (5,775)
Proceeds from the issuance of unsecured debt 395,964 395,516 0
Proceeds from the issuance of secured debt 0 0 375,000
Repayments of unsecured debt (400,000) (723,712) 0
Borrowings on unsecured debt 0 0 320,000
Repurchases of unsecured debt 0 0 (20,584)
Borrowings on unsecured revolving credit facility 65,000 0 0
Repayments on unsecured revolving credit facility (65,000) 0 0
Net cash (used in) provided by financing activities (312,662) (660,578) 360,595
Net increase (decrease) in cash and cash equivalents and restricted cash 13,626 (344,473) 162,784
Cash and cash equivalents and restricted cash, beginning of year 165,690 510,163 347,379
Cash and cash equivalents and restricted cash, end of year $ 179,316 $ 165,690 $ 510,163
v3.25.4
Organization and Ownership
12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Ownership Organization and Ownership
Kilroy Realty Corporation (the “Company”) is a self-administered real estate investment trust (“REIT”) active in premier office, life science, and mixed-use property types in the United States. Our approach to modern business environments is designed to drive creativity and productivity for some of the world’s leading technology, media, life science, and business services companies and we have been consistently recognized for our leadership in sustainability and building operations. 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 Company qualifies as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). The Company’s common stock is publicly traded on the New York Stock Exchange (“NYSE”) under the ticker symbol “KRC.”

We own our interests in all of our real estate assets through Kilroy Realty, L.P. (the “Operating Partnership”) and conduct substantially all of our operations through the Operating Partnership. Unless stated otherwise or the context otherwise requires, the terms “Kilroy Realty Corporation” or the “Company,” “we,” “our,” and “us” refer to Kilroy Realty Corporation and its consolidated subsidiaries, including the Operating Partnership, and the term “Operating Partnership” refers to Kilroy Realty, L.P. and its consolidated subsidiaries. The descriptions of our business, employees, and properties apply to both the Company and the Operating Partnership.

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 properties at December 31, 2025:

Number of
Buildings
Rentable
Square Feet (unaudited)
Number of
Tenants
Percentage 
Occupied
(unaudited) (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.
(2)Includes stabilized life science and retail space.
Number of
Properties
Number of
Units
2025 Average Occupancy
(unaudited)
Stabilized Residential Properties31,001 94.1 %

As of December 31, 2025, the following projects were excluded from our stabilized portfolio:
Number of
Properties / Projects
Actual / Estimated Rentable
Square Feet (unaudited) (1)
Properties held for sale (2)
1427,764
In-process development project - tenant improvement
1871,738
____________________
(1)For the property classified as held for sale, represents actual rentable square feet and consists of three buildings. For the in-process development project in the tenant improvement phase, represents estimated rentable square feet upon completion.
(2)See Note 4 “Dispositions and Held For Sale” for additional information.

Our stabilized portfolio also excludes our future development pipeline, which, as of December 31, 2025, was comprised of eight potential future development sites.
As of December 31, 2025, all of our properties and development and redevelopment projects, and all of our business was conducted in the state of California, with the exception of ten stabilized office properties and one future development project located in the state of Washington, and one stabilized office property and one future development project located in Austin, Texas. All of our properties and development and redevelopment projects are 100% owned, excluding the following four office properties owned by three consolidated property partnerships. Refer to Note 2 “Basis of Presentation and Significant Accounting Policies” for further discussion of the Company’s consolidated property partnerships.

Consolidated Property PartnershipProperty Address
Ownership Interest (1) (2)
100 First Street Member, LLC100 1st Street, San Francisco, CA 9410556%
303 Second Street Member, LLC303 2nd Street, San Francisco, CA 9410756%
Redwood City Partners, LLC900 Jefferson Avenue, Redwood City, CA 9406393%
900 Middlefield Road, Redwood City, CA 94063
________________________
(1)Reflects the Company’s ownership percentage at time of agreement. Actual percentage may vary depending on cash flows or promote structure.
(2)The remaining interests in all three property partnerships were owned by unrelated third parties.

As of December 31, 2025, the Company owned an approximate 99.1% common general partnership interest in the Operating Partnership, and the remaining approximate 0.9% common limited partnership interest in the Operating Partnership as of December 31, 2025 was owned by non-affiliated investors. Both the general and limited common partnership interests in the Operating Partnership are denominated in common units. Generally, the number of common units held by the Company is equivalent to the number of outstanding shares of the Company’s common stock, and the rights of all the common units to quarterly distributions and payments in liquidation mirror those of the Company’s common stockholders. The common limited partners have certain redemption rights as provided in the Operating Partnership’s Seventh Amended and Restated Agreement of Limited Partnership, as amended (the “Partnership Agreement”). With the exception of the Operating Partnership and our consolidated property partnerships, all of our subsidiaries are wholly-owned.
v3.25.4
Basis of Presentation and Significant Accounting Policies
12 Months Ended
Dec. 31, 2025
Basis of Presentation and Significant Accounting Policies [Abstract]  
Basis of Presentation and Significant Accounting Policies Basis of Presentation and Significant Accounting Policies
Basis of Presentation

The consolidated financial statements of the Company include the consolidated financial position and results of operations of the Company, the Operating Partnership, the Consolidated Property Partnerships, and all of our wholly-owned and controlled subsidiaries. The consolidated financial statements of the Operating Partnership include the consolidated financial position and results of operations of the Operating Partnership, the Consolidated Property Partnerships, and all of our wholly-owned and controlled subsidiaries. All intercompany balances and transactions have been eliminated in the consolidated financial statements.

Reclassification of Prior Period Amounts

Commencing January 1, 2025, the Company began presenting a new line item, Other income (expense), which includes tax expenses, acquisition and disposition expenses, and income or expenses related to environmental and sustainability initiatives, which were previously included in General and administrative expenses. Historical amounts for General and administrative expenses and Other income (expense) have been revised to conform with the current period presentation, which resulted in no change to consolidated net income.

During the year ended December 31, 2025, the Company combined certain line items in the Consolidated Statements of Equity. The Company determined that separate disclosure for certain line items was not meaningful to the users of the financial statements. The settlement of restricted stock units for shares of common stock is now presented net of shares withheld and payments made to settle tax obligations. Historical presentation has been revised to conform with the current period presentation. These presentation changes did not affect the total equity balance, net income, or earnings per share in any of the periods reported.
Partially Owned Entities and Variable Interest Entities

Our accounting policy is to consolidate entities in which we have a controlling financial interest and significant decision making control over the entity’s operations. In determining whether we have a controlling financial interest in a partially owned entity and the requirement to consolidate the accounts of that entity, we consider factors such as ownership interest, board representation, management representation, size of our investment (including loans), authority to control decisions, and contractual and substantive participating rights of the members. In addition to evaluating control rights, we consolidate entities in which the other members have no substantive kick-out rights to remove the Company as the managing member.

Entities in which the equity investors do not have sufficient equity at risk to finance their endeavors without additional financial support or the holders of the equity investment at risk do not have a controlling financial interest are variable interest entities (“VIEs”). We evaluate whether an entity is a VIE and whether we are the primary beneficiary. We are deemed to be the primary beneficiary of a VIE when we have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses or receive benefits that could potentially be significant to the VIE.

The Operating Partnership is a VIE that is consolidated by the Company as the primary beneficiary, as the Operating Partnership is a limited partnership in which the common limited partners do not have substantive kick-out or participating rights. At December 31, 2025, the consolidated financial statements of the Company included two VIEs in addition to the Operating Partnership: 100 First LLC and 303 Second LLC. At December 31, 2024, the consolidated financial statements of the Company included three VIEs in addition to the Operating Partnership: 100 First LLC, 303 Second LLC, and one entity established during the third quarter of 2024 to facilitate a potential future Section 1031 Exchange. The Company and the Operating Partnership were determined to be the primary beneficiaries of these VIEs at December 31, 2025 and 2024, since we had the ability to control the activities that most significantly impact each of the VIEs’ economic performance. Revenues, income, and net assets generated by 100 First LLC and 303 Second LLC may only be used to settle their contractual obligations, which primarily consist of operating expenses, capital expenditures, and required distributions. The following table summarizes the total assets, liabilities, and noncontrolling interests included on our consolidated balance sheets attributable to these VIEs:

December 31, 2025December 31, 2024
($ in thousands)
Number of VIEs23
Total assets (1)
$380,940 $435,478 
Total liabilities$18,304 $18,047 
Total noncontrolling interests$160,299 $169,445 
____________________
(1)Includes $319.4 million and $357.3 million related to real estate assets held for investment, net, as of December 31, 2025 and 2024, respectively.

If the requirements for consolidation are not met, the Company would account for investments under the equity method of accounting if we have the ability to exercise significant influence over the entity. Equity method investments would be initially recorded at cost and subsequently adjusted for our share of net income or loss and cash contributions and distributions each period. The Company did not have any equity method investments at December 31, 2025 or 2024.
Significant Accounting Policies

Revenue Recognition

Rental revenue for office, life science, retail, and residential operating properties is our principal source of revenue. We recognize revenue from base rent (fixed lease payments), additional rent (variable lease payments, which consist of amounts due from tenants for common area maintenance, real estate taxes, and other recoverable costs), parking, and other lease-related revenue once all of the following criteria are met: (i) the agreement has been fully executed and delivered, (ii) services have been rendered, (iii) the amount is fixed or determinable, and (iv) payment has been received or the collectability of substantially all of the amount due is probable. Minimum
annual rental revenues are recognized in rental revenues on a straight-line basis over the non-cancellable term of the related lease.

Base Rent

The timing of when we commence rental revenue recognition for office, life science, and retail properties depends largely on our conclusion as to whether we are or the tenant is the owner of tenant improvements at the leased property for accounting purposes. When we conclude that we are the owner of tenant improvements for accounting purposes, we record the cost to construct the tenant improvements as an asset and commence rental revenue recognition when the tenant takes possession of or controls the finished space, which is generally when tenant improvements being recorded as our assets are substantially complete. In certain instances, when we conclude that the tenant is the owner of certain tenant improvements for accounting purposes, rental revenue recognition begins when the tenant takes possession or controls the physical use of the leased space. The determination of who owns the tenant improvements is made on a lease-by-lease basis and has a significant effect on the timing of commencement of revenue recognition. Further, we may deliver leased space in phases, rather than for an entire building or project, resulting in various revenue commencement dates for a particular lease, which involves significant judgment surrounding when the tenant takes possession of or controls each respective phase, building or project.

When we conclude that we are the owner of tenant improvements for accounting purposes, we record the cost to construct the tenant improvements, including costs paid for or reimbursed by the tenants, as our capital asset. For these tenant-funded tenant improvements, we record the amount funded by or reimbursed by tenants as deferred revenue, which is amortized and recognized as rental income on a straight-line basis over the term of the related lease beginning upon substantial completion of the leased premises.

When we conclude that the tenant is the owner of certain tenant improvements for accounting purposes, we record our contribution towards those tenant-owned improvements as a lease incentive, which is included in deferred leasing costs and acquisition-related intangible assets, net, on our consolidated balance sheets and amortized as a reduction to rental revenue on a straight-line basis over the term of the related lease beginning upon substantial completion of the leased premises.

For residential properties, we commence revenue recognition upon lease commencement. Residential rental revenue is recognized on a straight-line basis over the term of the related lease, which is generally one year, net of any concessions.

When a lease is amended, we determine whether (i) an additional right of use not included in the original lease is being granted as a result of the modification, and (ii) there is an increase in the lease payments that is commensurate with the standalone price for the additional right of use. If both of these conditions are met, the amendment is accounted for as a separate lease contract. If either of those conditions are not met, the amendment is accounted for as a lease modification. Most of our lease amendments are accounted for as modifications of our operating leases, which requires us to reassess both the lease term and fixed lease payments, including any prepaid or deferred rent receivables relating to the original lease, as a part of the lease payments for the modified lease.

Termination options in some of our leases allow the tenant to terminate the lease, in part or in whole, prior to the end of the lease term under certain circumstances. Termination options generally require advance notification from the tenant and payment of a termination fee that reimburses us for a portion of the remaining rent under the original lease term and the net book value of lease inception costs such as commissions, tenant improvements and lease incentives. Termination fee income, included in rental income, is recognized on a straight-line basis from the date of the executed termination agreement through the revised lease expiration when the amount of the fee is determinable and collectability of the fee is probable. This fee income is reduced on a straight-line basis by any deferred rent receivable related to the lease.

Generally, our leases require the tenant to restore the leased space to standard office condition upon the expiration of the lease. In some circumstances, tenants may negotiate to pay us a restoration fee in lieu of restoring the space. Restoration fee income, included in rental income, is recognized on a straight-line basis from the date of
the executed restoration fee agreement through lease expiration when the amount of the fee is determinable and collectability of the fee is probable.

When tenants declare bankruptcy, we may be able to collect some portion of their past-due rents through the bankruptcy process, whether through applying security deposit balances, drawing on tenants’ letters of credit, or through bankruptcy settlements. We recognize any amounts collected through the bankruptcy process when cash is received.

Additional Rent - Reimbursements from Tenants

Leases typically provide for the reimbursement of certain property operating expenses accounted for as additional rent, which consists of amounts due from tenants for common area maintenance, real estate taxes, and other recoverable costs, and is recognized in rental income in the period the recoverable costs are incurred. Additional rent where we pay the associated costs directly to third-party vendors and are reimbursed by our tenants are recognized and recorded on a gross basis, with the associated expense recognized in property expenses or real estate taxes.

Other Property Income

Other property income primarily includes amounts recorded in connection with transient daily parking, broken deal income, and property damage settlement-related payments in excess of losses incurred received from third-party insurance carriers. Other property income also includes miscellaneous income from tenants and fees for late rental payments. Amounts recorded within other property income fall within the scope of ASC Topic 606 “Revenue from Contracts with Customers” and are recognized as revenue at the point in time when control of the goods or services transfers to the customer and our performance obligation is satisfied.
Uncollectible Lease Receivables and Allowances for Tenant and Deferred Rent Receivables

Current tenant receivables consist primarily of amounts due for contractual lease payments and reimbursements of common area maintenance expenses, property taxes, and other costs recoverable from tenants. Deferred rent receivables represent the excess of the cumulative straight-line rental revenue recorded to date over cash rents billed to date under the lease agreement.

We carry our current and deferred rent receivables net of allowances for amounts that may not be collected, which are adjusted through rental income. The adequacy of these allowances is assessed quarterly using a binary assessment of whether or not substantially all of the amounts due under a tenant’s lease agreement are probable of collection. This assessment incorporates specific identification and aging analyses, considering the current economic and business environment, including factors such as the age and nature of the receivables, tenant payment history and financial condition, our assessment of the tenant’s ability to meet its lease obligations, and the status of negotiations of any disputes with the tenant. Significant judgment is required, and actual results may differ materially from estimates due to factors beyond our control.

For leases that are deemed probable of collection, revenue continues to be recorded on a straight-line basis over the non-cancellable lease term, with partial allowances for uncollectible accounts exhibiting a certain level of collection risk. For leases that are deemed not probable of collection, revenue is recorded as the lesser of (i) cash received, or (ii) the amount recognized on a straight-line basis with any tenant and deferred rent receivable balances charged as a direct write-off against rental income in the period of the change in the collectability determination. If the collectability determination subsequently changes to being probable of collection for leases for which revenue is recorded based on cash received from the tenant, we resume recognizing revenue, including deferred revenue, on a straight-line basis and recognize incremental revenue related to the reinstatement of cumulative deferred rent receivable and deferred revenue balances, as if revenue had been recorded on a straight-line basis since the inception of the lease.
Acquisitions

Acquisitions of operating properties and development and redevelopment opportunities generally do not meet the definition of a business and are accounted for as asset acquisitions, as substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. For these asset acquisitions, we record the acquired tangible and intangible assets and assumed liabilities based on each asset’s and liability’s relative fair value compared to the total purchase price plus any capitalized closing costs, including costs incurred during negotiation.

Fair values are determined using estimated cash flow projections, market information and discount and/or capitalization rates, considering historical operating results, known and anticipated trends, and market and economic conditions. The acquired assets and assumed liabilities for an acquisition generally include, but are not limited to: (i) land and improvements, buildings and improvements, undeveloped land, and construction in progress, and (ii) identified tangible and intangible assets and liabilities associated with in-place leases, including tenant improvements, leasing costs, value of above-market and below-market operating leases and ground leases, acquired in-place lease values, and tenant relationships, if any. Any debt assumed and equity (including common units of the Operating Partnership) issued in connection with a property acquisition is recorded at relative fair value on the date of acquisition.

The fair value of land and improvements is derived from comparable sales of land and improvements within the same submarket and/or region. The fair value of buildings and improvements, tenant improvements, and leasing costs considers the value of the property as if it was vacant as well as current replacement costs and other relevant market rate information.

The fair value of the above-market or below-market component of an acquired in-place operating lease is based upon the present value (calculated using a market discount rate) of the difference between (i) the contractual rents to be paid pursuant to the lease over its remaining non-cancellable lease term, and (ii) management’s estimate of the rents that would be paid using fair market rental rates and rent escalations at the date of acquisition measured over the remaining non-cancellable term of the lease for above-market operating leases and the initial non-cancellable term plus the term of any below-market fixed rate renewal options, if applicable, for below-market operating leases. Our below-market operating leases generally do not include fixed rate or below-market renewal options. The amounts recorded for above-market operating leases are included in deferred leasing costs and acquisition-related intangible assets, net, on the balance sheet and are amortized on a straight-line basis as a reduction of rental income over the remaining term of the applicable leases. The amounts recorded for below-market operating leases are included in deferred revenue and acquisition-related intangible liabilities, net, on the balance sheet and are amortized on a straight-line basis as an increase to rental income over the remaining term of the applicable leases plus the term of any below-market fixed rate renewal options, if applicable. The amortization of a below-market ground lease obligation is recorded as an increase to ground lease expense in the consolidated statements of operations for the periods presented. The amortization of an above-market ground lease obligation is recorded as a decrease to ground lease expense in the consolidated statements of operations for the periods presented.

The fair value of acquired in-place leases is derived based on management’s assessment of lost revenue and costs incurred for the period required to lease the “assumed vacant” property to the occupancy level when purchased. This fair value is based on a variety of considerations, including, but not necessarily limited to: (i) the value associated with lost rental revenue from existing leases during the assumed lease-up period; (ii) the value associated with avoiding the cost of originating the acquired in-place leases; and (iii) the value associated with lost revenue related to tenant reimbursable operating costs estimated to be incurred during the assumed lease-up period. Factors we consider in performing these analyses include an estimate of the carrying costs during the expected lease-up periods, current market conditions, and costs to execute similar leases. In estimating carrying costs, we include real estate taxes, insurance, and other operating expenses, and estimates of lost rental revenue during the expected lease-up periods based on current market demand at market rates. In estimating costs to execute similar leases, we consider leasing commissions, legal, and other related expenses. The amount recorded for acquired in-place leases is included in deferred leasing costs and acquisition-related intangible assets, net on the balance sheet and amortized as an increase to depreciation and amortization expense over the remaining term of the applicable leases.
The determination of the fair value of any debt assumed in connection with a property acquisition is estimated by discounting the future cash flows using market interest rates available for the issuance of debt with similar terms and remaining maturities.

The determination of the fair value of the acquired tangible and intangible assets and assumed liabilities of acquisitions requires us to make significant judgments and assumptions about the numerous inputs discussed above. The use of different assumptions in these fair value calculations could significantly affect the reported amounts of the allocation of our acquisition related assets and liabilities and the related depreciation and amortization expense recorded for such assets and liabilities. In addition, because the value of above and below-market leases are amortized as either a reduction or increase to rental income, respectively, our judgments for these intangibles could have a significant impact on our reported rental revenues and results of operations.

Transaction costs associated with our acquisitions, including costs incurred during negotiation, are capitalized as part of the purchase price of the acquisition.
Operating Properties

Operating properties are generally carried at historical cost less accumulated depreciation. Properties held for sale are reported at the lower of the carrying value or the fair value less estimated cost to sell. The cost of operating properties includes the purchase price or development costs of the properties. Costs incurred for the renovation and extension of the useful life of the operating properties are capitalized to our investment in that property. Maintenance and repairs are charged to expense as incurred.
Cost Capitalization

We capitalize all costs associated with development and redevelopment activities, capital improvements, and tenant improvements as project costs, including internal compensation costs related to those activities. In addition, the following costs are capitalized as project costs during periods in which activities necessary to prepare development and redevelopment properties for their intended use are in progress: pre-construction costs essential to the development of the property, interest costs based on the weighted average interest rate of our outstanding indebtedness for the period, real estate taxes, and insurance.

Determining whether expenditures meet the criteria for capitalization requires management to exercise significant judgment. Expenditures that meet one or more of the following criteria generally qualify for capitalization:
Provide benefit in future periods;
Extend the useful life of the asset beyond our original estimates; and
Increase the quality of the asset beyond our original estimates.

We define redevelopment properties as those properties for which we expect to spend significant development and construction costs pursuant to a formal plan to change its use, the intended result of which is a higher economic return on the property.

We define a property in the tenant improvement phase as a development or redevelopment property where the project has reached “cold shell condition” and is ready for tenant improvements, which may require additional major base building modifications before being placed in service. Projects in the tenant improvement phase are moved into our stabilized portfolio once the project reaches the earlier of 95% occupancy or one year from the date of the cessation of major base building construction activities.

For office, life science, and retail development and redevelopment properties, the date the capitalization period ends is based on property-specific leasing activity:
For properties that are pre-leased, we cease capitalization when revenue recognition has commenced on the leased space, which is upon substantial completion of tenant improvements deemed to be the Company’s asset for accounting purposes.
For properties that are not pre-leased, we may not immediately build out the tenant improvements. Therefore, we cease capitalization and begin depreciation on the portion of the property for which revenue recognition has commenced on the leased space, but in any event, no later than one year after the cessation of major base building construction activities. Revenue recognition commences on leased space upon substantial completion of the tenant improvements deemed to be the Company’s asset for accounting purposes. We also cease capitalization when activities necessary to prepare the property for its intended use have been suspended.

Once major base building construction activities have ceased and the development or redevelopment property (or phases thereof) have been placed in service, the costs capitalized to construction in progress are transferred to land and improvements, buildings and improvements, and deferred leasing costs on our consolidated balance sheets as the historical cost of the property.
Evaluation of Asset Impairment

We evaluate our real estate assets, including land held for future development, for potential impairment whenever events or changes in circumstances indicate that the carrying amount of a given asset may not be recoverable. This evaluation is performed property-by-property basis. Factors we use to determine whether an impairment evaluation is necessary include:
low occupancy levels, forecasted low occupancy levels, or near term lease expirations at a specific property;
current period operating or cash flow losses combined with a historical pattern or future projection of potential continued operating or cash flow losses at a specific property;
deterioration in rental rates for a specific property as evidenced by sudden significant rental rate decreases or continuous rental rate decreases over numerous quarters, which could signal a continued decrease in future cash flows for that property;
deterioration of a given rental submarket as evidenced by significant increases in market vacancy and/or negative absorption rates, or continuous increases in market vacancy and/or negative absorption rates over numerous quarters, which could signal a decrease in future cash flows for properties within that submarket;
significant increases in property sales yields, continuous increases in property sales yields over several quarters, or recent property sales at a loss within a given submarket, each of which could signal a decrease in the market value of properties;
significant change in strategy or use of a specific property, or any other event that could result in a decreased holding period, including classifying a property as held for sale, or significant development delay;
evidence of material physical damage to the property; and
default by a significant tenant when any of the other indicators above are present.

When evaluating operating real estate assets to be held and used for potential impairment, including land held for future development, we first evaluate whether there are any indicators of impairment. If any impairment indicators are present for a specific real estate asset, we compare the asset’s net carrying amount to its estimated undiscounted future cash flows over the anticipated holding period. If the carrying amount exceeds these cash flows, we calculate an impairment loss by comparing the carrying amount to the asset’s estimated fair value, using discounted cash flow models or third-party appraisals. An impairment loss recognized sets a new cost basis for the asset, which is then depreciated over its remaining useful life. Assets held for sale are carried at the lower of carrying value or fair value less closing costs, and depreciation ceases.
Depreciation and Amortization of Buildings and Improvements and Furniture, Fixtures, and Other Long-Lived Assets

The costs of buildings and improvements, tenant improvements, and furniture, fixtures and other long-lived assets are depreciated using the straight-line method of accounting over the estimated useful lives set forth in the table below. Depreciation expense for buildings and improvements for the three years ended December 31, 2025, 2024, and 2023 was $305.8 million, $308.0 million, and $300.1 million, respectively:

Asset DescriptionDepreciable Lives
Buildings and improvements (1)
25 – 40 years
Tenant improvements (2)
1 - 20 years
Furniture, fixtures, and other long-lived assets (3)
1 - 5 years
____________________
(1)Building improvements associated with in-process capital improvement projects begin depreciation once placed in service.
(2)Tenant improvements are amortized over the shorter of the lease term or the estimated useful life.
(3)Accumulated depreciation for furniture, fixtures, and other long-lived assets is included in “Prepaid expense and other assets, net” on our consolidated balance sheets.
Real Estate Assets Held for Sale and Dispositions

A real estate asset is classified as held for sale when certain criteria are met, including, but not limited to, the availability of the asset for immediate sale, the existence of an active program to locate a buyer, and the probable sale or transfer of the asset within one year. If such criteria are met, we present the applicable assets and liabilities related to the real estate asset, if material, separately on the balance sheet as held for sale and we would cease to record depreciation and amortization expense. Real estate assets held for sale are reported at the lower of carrying value or fair value less costs to sell.

The net gains (losses) on dispositions of non-depreciable real estate property (i.e. land) are reported in the consolidated statements of operations as gains (losses) on sale of land in the period the land is sold. The net gains (losses) on dispositions of certain other depreciable assets, such as a corporate aircraft, are reported in the consolidated statements of operations as gains (loss) on sales of long-lived assets in the period the asset is sold. The net gains (losses) on dispositions of depreciable real estate property are reported in the consolidated statements of operations as gains (losses) on sales of depreciable operating properties in the period the property is sold.
Cash and Cash Equivalents

We consider all highly-liquid investments, including certificates of deposit, with original maturities of three months or less to be cash equivalents.

Restricted Cash

Restricted cash consists of cash proceeds from dispositions that are temporarily held at qualified intermediaries for purposes of facilitating potential Section 1031 Exchanges, and cash held in escrow related to acquisition and disposition holdbacks. Restricted cash may also include cash held as collateral to provide credit enhancement for the Operating Partnership’s mortgage debt, including cash reserves for capital expenditures, tenant improvements, and property taxes. We did not have any restricted cash at December 31, 2025 and 2024.
Marketable Securities

Marketable securities reported in our consolidated balance sheets represent assets held in connection with the Kilroy Realty Corporation 2007 Deferred Compensation Plan (the “Deferred Compensation Plan”) (see Note 15 “Employee Benefit Plans” for additional information). These assets are held in a limited rabbi trust and invested in various mutual and money market funds. As a result, the marketable securities are treated as trading securities for financial reporting purposes and are adjusted to fair value at the end of each reporting period.
At the time eligible management employees (“Participants”) defer compensation or earn mandatory Company contributions, or if we were to make a discretionary contribution, we record compensation cost and a corresponding deferred compensation plan liability, which is included in accounts payable, accrued expenses, and other liabilities on our consolidated balance sheets. This liability is adjusted to fair value at the end of each accounting period based on the performance of the benchmark funds selected by each Participant, and the impact of adjusting the liability to fair value is recorded as an increase or decrease to compensation cost. The impact of adjusting the deferred compensation plan liability to fair value and the changes in the value of the marketable securities held in connection with the Deferred Compensation Plan generally offset and therefore do not significantly impact net income.
Deferred Leasing Costs

Costs incurred in connection with successful property leasing are capitalized as deferred leasing costs and classified as investing activities in the statement of cash flows. Deferred leasing costs consist of leasing commissions paid to external third-party brokers and lease incentives, and are amortized using the straight-line method of accounting over the lives of the associated leases which generally range from one to 20 years. We may re-evaluate the remaining useful lives of leasing costs as the creditworthiness of our tenants and economic and market conditions change. If we determine that the estimated remaining life of a lease has changed, we adjust the amortization period accordingly. Fully amortized deferred leasing costs are written off each quarter.
Deferred Financing Costs

Financing costs related to the origination or assumption of long-term debt are deferred and generally amortized into interest expense using the straight-line method of accounting, which approximates the effective interest method, over the contractual terms of the applicable financings. Deferred financing costs incurred in connection with the establishment of the unsecured revolving credit facility are initially recorded as prepaid assets on the balance sheet and subsequently amortized to interest expense over the contractual term of the facility, typically using the straight-line method.

Debt Discounts and Premiums

Original issuance debt discounts and discounts/premiums related to recording debt acquired in connection with operating property acquisitions at fair value are generally amortized and accreted on a straight-line basis, which approximates the effective interest method. Discounts are recorded as additional interest expense from date of issuance or acquisition through the contractual maturity date of the related debt. Premiums are recorded as a reduction to interest expense from the date of issuance or acquisition through the contractual maturity date of the related debt.
Noncontrolling Interests - Common Units of the Operating Partnership in the Company’s Consolidated Financial Statements

Common units of the Operating Partnership within noncontrolling interests in the Company’s consolidated financial statements represent the common limited partnership interests in the Operating Partnership not held by the Company (“noncontrolling common units”). Noncontrolling common units are presented in the equity section of the Company’s consolidated balance sheets and are reported at their proportionate share of the net assets of the Operating Partnership. Noncontrolling interests with redemption provisions that permit the issuer to settle in either cash or shares of common stock must be further evaluated to determine whether equity or temporary equity classification on the balance sheet is appropriate. Since the common units contain such a provision, we evaluated the accounting guidance and determined that the common units qualify for equity presentation in the Company’s consolidated financial statements. Net income attributable to noncontrolling common units is allocated based on their relative ownership percentage of the Operating Partnership during the reported period. The noncontrolling interest ownership percentage is determined by dividing the number of noncontrolling common units by the total number of common units outstanding. The issuance or redemption of additional shares of common stock or common units results in changes to the noncontrolling interest percentage as well as the total net assets of the Company. As a result, all equity transactions result in an allocation between equity and the noncontrolling interest in the Company’s
consolidated balance sheets and statements of equity to account for the changes in the noncontrolling interest ownership percentage as well as the change in total net assets of the Company.

Noncontrolling Interests in Consolidated Property Partnerships

Noncontrolling interests in consolidated property partnerships represent the equity interests held by unrelated third parties in our three consolidated property partnerships (see Note 10 “Noncontrolling Interests on the Company’s Consolidated Financial Statements” and see Note 11 “Noncontrolling Interests on the Operating Partnership’s Consolidated Financial Statements”). Noncontrolling interests in consolidated property partnerships are not redeemable and are presented as permanent equity in the Company’s consolidated balance sheets. We account for the noncontrolling interests in consolidated property partnerships using the hypothetical liquidation at book value (“HLBV”) method to attribute the earnings or losses of the consolidated property partnerships between the controlling and noncontrolling interests. Under the HLBV method, the amounts reported as noncontrolling interests in consolidated property partnerships in the consolidated balance sheets represent the amounts the noncontrolling interests would hypothetically receive at each balance sheet reporting date under the liquidation provisions of the governing agreements assuming the net assets of the consolidated property partnerships were liquidated at recorded amounts and distributed between the controlling and noncontrolling interests in accordance with the governing documents. The net income attributable to noncontrolling interests in consolidated property partnerships in the consolidated statements of operations is associated with the increase or decrease in the noncontrolling interest holders’ contractual claims on the respective entities’ balance sheets assuming a hypothetical liquidation at the end of that reporting period when compared with their claims on the respective entities’ balance sheets assuming a hypothetical liquidation at the beginning of that reporting period, after removing the impact of any contributions or distributions.

Common Partnership Interests on the Operating Partnership’s Consolidated Balance Sheets

The common units held by the Company and the noncontrolling common units held by the common limited partners are both presented in the permanent equity section of the Operating Partnership’s consolidated balance sheets in partners’ capital. The redemption rights of the noncontrolling common units permit us to settle the redemption obligation in either cash or shares of the Company’s common stock at our option (see Note 10 “Noncontrolling Interests on the Company’s Consolidated Financial Statements” for additional information).

Noncontrolling Interests on the Operating Partnership’s Consolidated Financial Statements

Noncontrolling interests in the Operating Partnership’s consolidated financial statements include the noncontrolling interest in property partnerships (See Note 11 “Noncontrolling Interests on the Operating Partnership’s Consolidated Financial Statements”).
Equity Offerings

Underwriting commissions and offering costs incurred in connection with common equity offerings and any at-the-market stock offering programs (See Note 12 “Stockholders’ Equity of the Company”) are reflected as a reduction of additional paid-in capital.

The net proceeds from any equity offering of the Company are generally contributed to the Operating Partnership in exchange for a number of common units equivalent to the number of shares of common stock issued and are reflected in the Operating Partnership’s consolidated financial statements as an increase in partners’ capital.
Share-Based Incentive Compensation Accounting

Compensation cost for all share-based awards requires measurement at estimated fair value on the grant date. Compensation cost is recognized on a straight-line basis over the requisite service period. The grant date fair value of share-based awards with market conditions are calculated using a Monte Carlo simulation pricing model. Forfeitures of all share-based awards are recognized when they occur.
For share-based awards in which the performance period precedes the grant date, we recognize compensation cost over the requisite service period, which includes both the performance and service vesting periods, using the accelerated attribution expense method. The requisite service period begins on the date the Executive Compensation Committee authorizes the award and adopts any relevant performance measures.

For share-based awards with performance conditions, the total estimated compensation cost is based on our most recent estimate of the probable achievement of the pre-established specific performance measures. These estimates are based on actual results and our latest internal forecasts for each performance measure. For share-based awards with market conditions, the total estimated compensation cost is based on the fair value of the award at the grant date. For share-based awards with performance conditions and market conditions, the total estimated compensation cost is based on the fair value per share at the grant date multiplied by our most recent estimate of the number of shares to be earned based on actual results and the probable achievement of the pre-established corporate performance measures based on our latest internal forecasts.

In accordance with the provisions of our share-based incentive compensation plan, we accept the return of shares of Company common stock, at the current quoted market price, from employees to satisfy minimum statutory tax-withholding requirements related to shares that vested during the period.
For share-based awards granted by the Company, the Operating Partnership issues a number of common units equal to the number of shares of common stock ultimately granted by the Company in respect of such awards.
Basic and Diluted Net Income Available to Common Stockholders per Share

Basic net income available to common stockholders per share is computed by dividing net income available to common stockholders after the allocation of income to participating securities, by the weighted-average number of shares of common stock outstanding for the period. Diluted net income available to common stockholders per share is computed by dividing net income available for common stockholders, after the allocation of income to participating securities, by the sum of the weighted-average number of shares of common stock outstanding for the period plus the assumed exercise of all dilutive securities. The impact of the outstanding common units is considered in the calculation of diluted net income available to common stockholders per share. The common units are not reflected in the diluted net income available to common stockholders per share calculation because the exchange of common units into common stock is on a one for one basis, and the common units are allocated net income on a per share basis equal to the common stock (See Note 19 “Net Income Available to Common Stockholders Per Share of the Company”). Accordingly, any exchange would not have any effect on diluted net income (loss) available to common stockholders per share.

Share-based payment awards (primarily vested restricted stock units (“RSUs”)) containing nonforfeitable rights to dividends or dividend equivalents are accounted for as participating securities and included in the computation of basic and diluted net income available to common stockholders per share pursuant to the two-class method. The dilutive effect of shares issuable under executed forward equity sale agreements, if any, are reflected in the weighted average diluted outstanding shares calculation by application of the treasury stock method. The dilutive effect of the outstanding nonvested shares of common stock (“nonvested shares”) and RSUs that have not yet been vested but are contingently issuable under the share-based compensation programs is reflected in the weighted average diluted shares calculation by application of the treasury stock method.

Basic and Diluted Net Income Available to Common Unitholders per Unit

Basic net income available to common unitholders per unit is computed by dividing net income available to the general partner and common unitholders, after the allocation of income to participating securities, by the weighted-average number of vested common units outstanding for the period. Diluted net income available to common unitholders per unit is computed by dividing net income available to the general partner and common unitholders, after the allocation of income to participating securities, by the sum of the weighted-average number of common units outstanding for the period plus the assumed exercise of all dilutive securities.
The dilutive effect of outstanding nonvested shares, RSUs, awards containing nonforfeitable rights to dividend equivalents and shares issuable under executed forward equity sale agreements, if any, are reflected in diluted net income available to the general partner and common unitholders per unit in the same manner as noted above for net income available to common stockholders per share.
Fair Value Measurements

The marketable securities held in connection with our Deferred Compensation Plan are recorded at fair value on a recurring basis in our consolidated financial statements. All other financial instruments of the Company, with the exception of our secured and unsecured debt instruments which are disclosed in Note 18 “Fair Value Measurements and Disclosures” to our consolidated financial statements, are recorded at amounts which, in management’s judgment, reasonably approximate their fair values. We elected not to apply the fair value option for any of our eligible financial instruments or other items.

We determine the estimated fair value of financial assets and liabilities utilizing a hierarchy of valuation techniques based on whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. This hierarchy requires the use of observable market data when available. The following is the fair value hierarchy:
Level 1 – quoted prices for identical instruments in active markets;
Level 2 – quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and
Level 3 – fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

We determine the fair value for the marketable securities using quoted prices in active markets for identical assets. Our other financial instruments, which are only disclosed at fair value, are comprised of certificates of deposit, secured debt, unsecured senior notes, unsecured revolving credit facility, and unsecured term loan facility.

We generally determine the fair value of our secured debt, unsecured senior notes, unsecured revolving credit facility, and unsecured term loan facility by performing discounted cash flow analyses using an appropriate market discount rate. For our fixed-rate debt instruments, including our secured debt and unsecured senior notes, we calculate the market rate by obtaining period-end treasury rates for maturities that correspond to the maturities of our fixed-rate debt and then adding an appropriate credit spread based on information obtained from third-party financial institutions. These credit spreads take into account factors, including, but not limited to, our credit profile, the tenure of the debt, amortization period, whether the debt is secured or unsecured, and the loan-to-value ratio of the debt to the collateral. These calculations are significantly affected by the assumptions used, including the discount rate, credit spreads, and estimates of future cash flows. We determine the fair value of each of our publicly traded unsecured senior notes based on their quoted trading price at the end of the reporting period, if such prices are available. For our floating-rate debt instruments, including our unsecured line of credit agreement and unsecured term loan, we calculate the market rate by obtaining Adjusted SOFR and then adding an appropriate credit spread based on our credit ratings.
Income Taxes

We have elected to be taxed as a REIT under Sections 856 through 860 of the Code. To qualify as a REIT, we must distribute annually at least 90% of our adjusted taxable income, as defined in the Code, to our stockholders and satisfy certain other organizational and operating requirements. We generally will not be subject to federal income taxes if we distribute 100% of our taxable income for each year to our stockholders. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes on our taxable income at regular corporate rates and we may not be able to qualify as a REIT for four subsequent taxable years. Even if we qualify for taxation as a REIT, we may be subject to certain state and local taxes on our income and property and to federal income taxes and excise taxes on our undistributed taxable income. We believe that we have met all of the REIT distribution and
technical requirements for the years ended December 31, 2025, 2024, and 2023, and we were not subject to any federal income taxes (See Note 22 “Tax Treatment of Distributions” for additional information). We intend to continue to adhere to these requirements and maintain the Company’s REIT status. Accordingly, no provision for federal income taxes has been made in the accompanying financial statements.

In addition, any taxable income from our taxable REIT subsidiaries are subject to federal, state, and local income taxes. For the years ended December 31, 2025, 2024, and 2023 the taxable REIT subsidiaries had de minimis taxable income.

Uncertain Tax Positions

We include favorable tax positions in the calculation of tax liabilities if it is more likely than not that our adopted tax position will prevail if challenged by tax authorities.

We evaluated the potential impact of identified uncertain tax positions for all tax years still subject to audit under state and federal income tax law and concluded that we did not have any unrecognized tax benefits or any additional tax liabilities as of December 31, 2025 or 2024. As of December 31, 2025, the years still subject to audit are 2021 through 2025 under the California state income tax law, 2023 through 2025 under the Texas state income tax law and 2022 through 2025 under the federal income tax law.
Use of Estimates

The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from those estimates.
Segments

We currently operate as one reportable segment. See Note 23 “Segments” for additional information.
Concentration of Credit Risk

All of our business is currently conducted in the state of California, with the exception of the ownership and operation of ten stabilized office properties and one future development project located in the state of Washington, and one stabilized office property and one future development project located in Austin, Texas. The ability of tenants to honor the terms of their leases is dependent upon the economic, regulatory, and social factors affecting the communities in which our tenants operate.

We have deposited cash with financial institutions that is insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per institution. As of December 31, 2025 and 2024, we had cash accounts in excess of FDIC insured limits.
Recently Issued Accounting Pronouncements

Accounting Pronouncements Adopted January 1, 2025

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09 “Income Taxes (Topic 740): Improvements to Tax Disclosures.” The ASU is effective for annual periods beginning after December 15, 2024. The guidance did not have a material impact on our consolidated financial statements or notes to our consolidated financial statements.

Accounting Pronouncements Effective 2026 and Beyond

In November 2024, the FASB issued ASU 2024-03 “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” The ASU is effective for annual periods beginning after December 15, 2026. The Company is currently evaluating whether the guidance will have a material impact on our consolidated financial statements or notes to our consolidated financial statements.
v3.25.4
Acquisitions
12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
Operating Property Acquisitions

During the years ended December 31, 2025 and 2024, we acquired the operating properties listed below from unrelated third parties:
Property
Month of Acquisition
Number of Buildings
Rentable
Square Feet
(Unaudited)
Purchase Price (in millions) (1)
2025 Acquisitions
3530 & 3550 John Hopkins Court and
3535 & 3565 General Atomics Court
(Nautilus)
December4232,166$192.0 
335-345 N. Maple Drive (Maple Plaza)September1306,366205.3 
Total 2025 Acquisitions
5538,532$397.3 
2024 Acquisitions
12707 & 12777 High Bluff Drive (One Paseo Junction)September2103,731$35.0 
Total 2024 Acquisitions2103,731$35.0 
________________________ 
(1)Excludes closing costs and purchase price credits.

The related assets, liabilities, and results of operations of the acquired properties are included in the consolidated financial statements as of the date of acquisition. The following table summarizes the estimated relative fair values of the assets acquired and liabilities assumed as of the date of acquisition, net of credits, and excluding acquisition-related costs of $0.8 million:
Total 2025 Operating
Property Acquisitions
Total 2024 Operating
Property Acquisitions
(in thousands)
Assets
Land
$50,382 $6,000 
Buildings and improvements
287,563 15,703 
Deferred leasing costs and acquisition-related intangible assets (1)
61,454 13,534 
Prepaid expenses and other assets, net— 30 
Total assets acquired$399,399 $35,267 
Liabilities
Acquisition-related intangible liabilities (2)
$2,981 $267 
Total liabilities assumed2,981 267 
Net assets and liabilities acquired$396,418 $35,000 
________________________ 
(1)For the 2025 operating property acquisitions, represents in-place leases (approximately $46.6 million with a weighted average amortization period of 4.4 years), leasing commissions (approximately $7.9 million with a weighted average amortization period of 4.7 years), and above-market leases (approximately $7.0 million with a weighted average amortization period of 4.7 years). For the 2024 operating property acquisitions, represents in-place leases (approximately $10.5 million with a weighted average amortization period of 4.7 years), leasing commissions (approximately $2.0 million with a weighted average amortization period of 4.9 years), and an above-market lease (approximately $1.0 million with a weighted average amortization period of 4.6 years).
(2)For the 2025 operating property acquisitions, represents below-market leases (approximately $3.0 million with a weighted average amortization period of 3.3 years). For the 2024 operating property acquisitions, represents below-market leases (approximately $0.3 million with a weighted average amortization period of 4.9 years).

Acquisition Costs

During the years ended December 31, 2025 and 2024, we capitalized $0.8 million and $0.2 million of closing costs, respectively.
v3.25.4
Dispositions and Real Estate Held For Sale
12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Dispositions and Real Estate Held For Sale Dispositions and Real Estate Held For Sale
Operating Property Dispositions

We did not dispose of any operating properties during the years ended December 31, 2024 and 2023. The following table summarizes the operating properties sold during the year ended December 31, 2025:
LocationMonth of
Disposition
Number of BuildingsRentable
Square Feet (unaudited)
Sales Price
(in millions) (1)
2025 Dispositions
501 Santa Monica Boulevard, Santa Monica, CA (2)
June178,509 $40.0 
Silicon Valley Campus, CA (2)
September4663,460 365.0 
6255 W. Sunset Boulevard, Los Angeles, CA
(Sunset Media Center) (3)
December1325,772 61.0 
Total 2025 Dispositions61,067,741 $466.0 
____________________
(1)Represents gross sales price before broker commissions, closing costs, and purchase price credits.
(2)The total gains on the sales of the operating properties sold during the year ended December 31, 2025 was $127.0 million.
(3)During the three months and year ended December 31, 2025, we recognized an impairment charge of approximately $16.3 million to reduce the carrying amount of this property to its current fair value less closing costs.

Real Estate Assets Held for Sale

As of December 31, 2025, we classified a three-building office property, totaling 427,764 rentable square feet (unaudited), in the I-15 Corridor of San Diego as held for sale. The property was sold on January 23, 2026, for a gross sales price of $124.5 million, resulting in an estimated gain on sale of $8.2 million.

The major classes of assets and liabilities of the property classified as held for sale as of December 31, 2025 were as follows:
Real estate and other assets held for sale, net(in thousands)
Land
$23,158 
Buildings and improvements198,535 
     Total real estate assets held for sale
221,693 
Accumulated depreciation and amortization(116,693)
     Total real estate assets held for sale, net
105,000 
Current receivables, net598 
Deferred rent receivables, net5,433 
Deferred leasing costs and acquisition-related intangible assets, net
3,939 
Prepaid expenses and other assets, net185 
     Total real estate and other assets held for sale, net$115,155 
Liabilities related to real estate assets held for sale
Accounts payable, accrued expenses, and other liabilities$663 
Deferred revenue and acquisition-related intangible liabilities, net1,882 
Rents received in advance and tenant security deposits2,400 
    Total liabilities related to real estate assets held for sale
$4,945 
v3.25.4
Deferred Leasing Costs and Acquisition-Related Intangible Assets and Liabilities, net
12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Deferred Leasing Costs and Acquisition-Related Intangible Assets and Liabilities, net Deferred Leasing Costs and Acquisition-Related Intangible Assets and Liabilities, net
The following table summarizes our deferred leasing costs and acquisition-related intangible assets (acquired value of leasing costs, above-market operating leases, and in-place leases) and acquisition-related intangible liabilities (acquired value of below-market operating leases):
December 31, 2025December 31, 2024
Deferred Leasing Costs and Acquisition-related Intangible Assets, net:(in thousands)
Deferred leasing costs$310,936 $303,541 
Accumulated amortization(131,985)(136,171)
Deferred leasing costs, net178,951 167,370 
Above-market operating leases8,239 1,269 
Accumulated amortization(779)(156)
Above-market operating leases, net7,460 1,113 
In-place leases123,329 78,979 
Accumulated amortization(31,508)(21,525)
In-place leases, net91,821 57,454 
Total deferred leasing costs and acquisition-related intangible assets, net$278,232 $225,937 
Acquisition-related Intangible Liabilities, net (1):
Below-market operating leases$41,292 $38,413 
Accumulated amortization(14,613)(10,995)
Below-market operating leases, net26,679 27,418 
Total acquisition-related intangible liabilities, net$26,679 $27,418 
____________________
(1)Included in deferred revenue and acquisition-related intangible liabilities, net in the consolidated balance sheets. Refer to Note 9 “Deferred Revenue and Acquisition-Related Intangible Liabilities, net” for a detailed breakdown of this line item .

The following table sets forth amortization related to deferred leasing costs and acquisition-related intangibles:
Year Ended December 31,
202520242023
(in thousands)
Deferred leasing costs$31,670 $34,135 $31,771 
Above-market operating leases645 86 31 
In-place leases12,122 7,453 15,878 
Below-market operating leases(3,724)(3,607)(6,679)
Total$40,713 $38,067 $41,001 

The following table sets forth the estimated annual amortization expense related to deferred leasing costs and acquisition-related intangibles as of December 31, 2025 for future periods:
Deferred
Leasing Costs
Above-Market Operating Leases
In-Place Leases
Below-Market Operating Leases
Year Ending(in thousands)
2026$32,410 $1,809 $21,138 $(4,530)
202728,802 1,620 16,914 (4,075)
202826,406 1,520 14,792 (3,739)
202922,950 1,371 12,083 (2,976)
203019,717 893 8,487 (2,593)
Thereafter48,666 247 18,407 (8,766)
Total$178,951 $7,460 $91,821 $(26,679)
____________________
(1)Refer to Note 2 “Basis of Presentation and Significant Accounting Policies” for presentation in the consolidated statements of operations.
v3.25.4
Prepaid Expenses and Other Assets, net
12 Months Ended
Dec. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Prepaid Expenses and Other Assets, net Prepaid Expenses and Other Assets, net
Prepaid expenses and other assets, net, consisted of the following:
December 31, 2025December 31, 2024
(in thousands)
Furniture, fixtures, and other long-lived assets, net (1)
$29,179 $26,316 
Prepaid expenses, net11,000 8,470 
Deferred financing costs, net (2)
9,150 12,692 
Other assets5,232 4,457 
Total prepaid expenses and other assets, net$54,561 $51,935 
____________________
(1)Includes $43.4 million and $40.2 million of accumulated depreciation for furniture, fixtures, and other long-lived assets as of as of December 31, 2025 and 2024, respectively.
(2)Refer to Note 8 “Secured and Unsecured Debt of the Operating Partnership” for a discussion of the deferred financing costs for the unsecured revolving credit facility.
v3.25.4
Secured and Unsecured Debt of the Company
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Secured and Unsecured Debt of the Company Secured and Unsecured Debt of the Company
In this Note 7, the “Company” refers solely to Kilroy Realty Corporation and not to any of our subsidiaries. The Company itself does not hold any indebtedness. All of our secured and unsecured debt is held directly by the Operating Partnership or its subsidiaries.

The Company generally guarantees all of the Operating Partnership’s unsecured debt obligations, including the unsecured revolving credit facility, the unsecured term loan facility, and all of the unsecured senior notes. At December 31, 2025 and 2024, the Operating Partnership had $4.0 billion outstanding in total, including unamortized discounts and deferred financing costs, under these unsecured debt obligations.

In addition, although the remaining $0.6 billion of the Operating Partnership’s debt as of December 31, 2025 and 2024 is secured and non-recourse to the Company, the Company provides limited customary secured debt guarantees for items such as voluntary bankruptcy, fraud, misapplication of payments, and environmental liabilities.

Debt Covenants and Restrictions
One of the covenants contained within the unsecured revolving credit facility, as discussed further below in Note 8, prohibits the Company from paying dividends during an event of default in excess of an amount that results in distributions to us in an amount sufficient to permit us to pay dividends to our stockholders that we reasonably believe are necessary to (i) maintain our qualification as a REIT for federal and state income tax purposes, and (ii) avoid the payment of federal or state income or excise tax.
v3.25.4
Secured and Unsecured Debt of the Operating Partnership
12 Months Ended
Dec. 31, 2025
Debt Instrument [Line Items]  
Secured and Unsecured Debt of the Operating Partnership Secured and Unsecured Debt of the Company
In this Note 7, the “Company” refers solely to Kilroy Realty Corporation and not to any of our subsidiaries. The Company itself does not hold any indebtedness. All of our secured and unsecured debt is held directly by the Operating Partnership or its subsidiaries.

The Company generally guarantees all of the Operating Partnership’s unsecured debt obligations, including the unsecured revolving credit facility, the unsecured term loan facility, and all of the unsecured senior notes. At December 31, 2025 and 2024, the Operating Partnership had $4.0 billion outstanding in total, including unamortized discounts and deferred financing costs, under these unsecured debt obligations.

In addition, although the remaining $0.6 billion of the Operating Partnership’s debt as of December 31, 2025 and 2024 is secured and non-recourse to the Company, the Company provides limited customary secured debt guarantees for items such as voluntary bankruptcy, fraud, misapplication of payments, and environmental liabilities.

Debt Covenants and Restrictions
One of the covenants contained within the unsecured revolving credit facility, as discussed further below in Note 8, prohibits the Company from paying dividends during an event of default in excess of an amount that results in distributions to us in an amount sufficient to permit us to pay dividends to our stockholders that we reasonably believe are necessary to (i) maintain our qualification as a REIT for federal and state income tax purposes, and (ii) avoid the payment of federal or state income or excise tax.
Kilroy Realty L.P.  
Debt Instrument [Line Items]  
Secured and Unsecured Debt of the Operating Partnership Secured and Unsecured Debt of the Operating Partnership
Secured Debt

The following table sets forth the composition of our secured debt:
Annual Stated
Interest Rate (1)
GAAP
Effective Rate (1) (2)
Maturity Date

December 31, 2025December 31, 2024
Type of Debt(in thousands)
Mortgage note payable3.57%3.80%December 2026$148,815 $152,668 
Mortgage note payable
4.48%4.57%July 202776,627 79,020 
Mortgage note payable5.90%6.13%August 2034375,000 375,000 
Total secured debt (3)
$600,442 $606,688 
Unamortized deferred financing costs(7,757)(8,489)
Total secured debt, net$592,685 $598,199 
____________________
(1)All interest rates presented are fixed-rate interest rates.
(2)Represents the effective interest rate including the amortization of initial issuance discounts and deferred financing costs.
(3)The secured debt and the related properties that secure this debt are held in a special purpose entity and the properties are not available to satisfy the debts and other obligations of the Company or the Operating Partnership.

The Operating Partnership’s secured debt was collateralized by operating properties with a combined net book value of approximately $950.4 million as of December 31, 2025.

Although our secured debt is secured and non-recourse to the Company and the Operating Partnership, the Company provides limited customary secured debt guarantees for items such as voluntary bankruptcy, fraud, misapplication of payments, and environmental liabilities.

The mortgage notes payable are collateralized by deeds of trust on specific real estate assets owned by the Company, as well as by the assignment of certain rents and leases associated with those properties. These secured loans generally contain customary covenants and restrictions, including limitations on additional indebtedness and requirements to maintain the properties securing the loans.

Unsecured Debt

Issuance of $400.0 million Unsecured Senior Notes Due 2036

In January 2024, the Operating Partnership issued $400.0 million aggregate principal amount of unsecured senior notes in a registered public offering. The outstanding balance of the unsecured senior notes is included in unsecured debt, net of an initial issuance discount of $4.5 million, on our consolidated balance sheets. The unsecured senior notes, which are scheduled to mature on January 15, 2036, require semi-annual interest payments each January and July based on a stated annual interest rate of 6.250%. The Operating Partnership may redeem the notes at any time, either in whole or in part, subject to the payment of an early redemption premium with respect to redemptions prior to October 15, 2035. On or after October 15, 2035, the Operating Partnership may redeem the notes at any time, either in whole or in part, at par.

Repayment of $425.0 million Unsecured Senior Notes Due 2024

In December 2024, the Company repaid the aggregate remaining principal balance of $403.7 million of the Operating Partnership’s 3.450% $425.0 million unsecured senior notes due December 15, 2024.
Unsecured Senior Notes - Registered Public Offering and Repayment

In August 2025, the Operating Partnership issued $400.0 million aggregate principal amount of unsecured senior notes in a registered public offering. The outstanding balance of the unsecured senior notes is included in unsecured debt, net of an initial issuance discount of $4.0 million, on our consolidated balance sheets. The unsecured senior notes, which are scheduled to mature on October 15, 2035, require semi-annual interest payments each April and October based on a stated annual interest rate of 5.875%. The Operating Partnership may redeem the notes at any time, either in whole or in part, subject to the payment of an early redemption premium with respect to redemptions prior to July 15, 2035. On or after July 15, 2035, the Operating Partnership may redeem the notes at any time, either in whole or in part, at par. In September 2025, the Operating Partnership used the net proceeds from the issuance of the $400.0 million 5.875% unsecured senior notes to redeem the $400.0 million aggregate principal amount of our outstanding 4.375% unsecured senior notes due October 1, 2025.

The following table summarizes the balance and significant terms of the unsecured senior notes issued by the Operating Partnership and outstanding, including unamortized discounts and unamortized deferred financing costs:

Maturity DateStated
Coupon
Rate
Effective
Interest
Rate (1) (2)
December 31, 2025December 31, 2024
(in thousands)
Private Placement Notes
Unsecured Senior Notes
July 20264.300%4.389%$50,000 $50,000 
Unsecured Senior Notes
October 20264.350%4.437%200,000 200,000 
Unsecured Senior Notes
February 20273.350%3.416%175,000 175,000 
Unsecured Senior Notes
February 20293.450%3.507%75,000 75,000 
Unsecured Senior Notes
January 20314.270%4.322%350,000 350,000 
Public Notes
Unsecured Senior Notes
October 20254.375%4.444%— 400,000 
Unsecured Senior Notes
December 20284.750%4.874%400,000 400,000 
Unsecured Senior Notes
August 20294.250%4.383%400,000 400,000 
Unsecured Senior Notes
February 20303.050%3.168%500,000 500,000 
Unsecured Senior Notes
November 20322.500%2.626%425,000 425,000 
Unsecured Senior Notes
November 20332.650%2.727%450,000 450,000 
Unsecured Senior Notes
October 20355.875%6.076%400,000 — 
Unsecured Senior Notes
January 20366.250%6.412%400,000 400,000 
Total Unsecured Senior Notes
$3,825,000 $3,825,000 
Less: Unamortized Net Discounts and Deferred Financing costs(27,949)(24,205)
Total Unsecured Senior Notes, Net (3)
$3,797,051 $3,800,795 
____________________
(1)Represents the effective interest rate including the amortization of initial issuance discounts and deferred financing costs.
(2)Interest on unsecured senior notes is payable semi-annually.
(3)Includes unamortized discounts of $11.0 million and $8.4 million and unamortized deferred financing costs of $16.9 million and $15.8 million as of December 31, 2025 and December 31, 2024, respectively.

Unsecured Revolving Credit Facility and Term Loan Facility

In March 2024, the Operating Partnership amended and restated the terms of its unsecured revolving credit facility. The amendment and restatement maintained the $1.1 billion borrowing capacity and extended the maturity date of the unsecured revolving credit facility to July 31, 2028.
The following table summarizes the balance and terms of our unsecured revolving credit facility:
Unsecured Revolving Credit Facility
December 31, 2025December 31, 2024
($ in thousands)
Outstanding borrowings$— $— 
Remaining borrowing capacity (1)
1,100,000 1,100,000 
Total borrowing capacity (1)
$1,100,000 $1,100,000 
Interest rate (2)
5.07 %5.69 %
Annual facility fee (3)
0.250%
Unamortized deferred financing costs (3)
$9,150 $12,692 
Maturity date (4)
July 31, 2028
____________________
(1)Remaining and total borrowing capacity are further reduced by the amount of our outstanding letters of credit which total approximately $5.2 million as of December 31, 2025 and December 31, 2024. We may elect to borrow, subject to bank approval and obtaining commitments for any additional borrowing capacity, up to an additional $500.0 million under an accordion feature pursuant to the terms of the unsecured revolving credit facility.
(2)Our unsecured revolving credit facility interest rate was calculated using the Secured Overnight Financing Rate (“SOFR”) plus a SOFR adjustment of 0.10% (together “Adjusted SOFR”) and a margin of 1.100% based on our credit rating as of December 31, 2025 and 2024. We may be entitled to a temporary 0.01% reduction in the interest rate provided we meet certain sustainability goals with respect to the ongoing reduction of greenhouse gas emissions.
(3)Our annual facility fee is paid on a quarterly basis and is calculated based on total borrowing capacity. In addition to the facility fee, we incurred debt origination and legal costs in connection with the amendment and restatement of the unsecured revolving credit facility in 2024. These costs are included in Prepaid expenses and other assets, net on our consolidated balance sheets, and will continue to be amortized through the maturity date of our unsecured revolving credit facility.
(4)The maturity date may be extended by two six-month periods, at the Operating Partnership’s election.

The Operating Partnership intends to borrow under the unsecured revolving credit facility from time to time for general corporate purposes, including, to finance development and redevelopment expenditures, to fund potential acquisitions, to repay long-term debt, and to supplement cash balances in response to market conditions.

In connection with amending and restating the unsecured revolving credit facility in 2024, the Operating Partnership also amended its $520.0 million unsecured term loan facility (the “2022 Term Loan Facility”). In doing so, the Operating Partnership repaid $200.0 million and extended the maturity date on $200.0 million of the principal balance by 12 months to October 3, 2025 (the “2024 Term Loan Facility”). In September 2024, the Operating Partnership repaid the remaining $120.0 million outstanding on its 2022 Term Loan Facility. In September 2025, the Operating Partnership exercised the loan extension option on the 2024 Term Loan Facility, extending the maturity date by 12 months to October 3, 2026.

The following table summarizes the balance and terms of our 2024 Term Loan Facility:

2024 Term Loan Facility
December 31, 2025December 31, 2024
($ in thousands)
Outstanding borrowings (1)
$200,000 $200,000 
Interest rate (2)
5.02 %5.70 %
Unamortized deferred financing costs (3)
$277 $1,229 
Maturity date (4)
October 3, 2026October 3, 2025
____________________
(1)We may elect to borrow, subject to bank approval and obtaining commitments for any additional borrowing capacity, up to an additional $130.0 million, under an accordion feature pursuant to the terms of the 2024 Term Loan Facility, as of December 31, 2025.
(2)Our 2024 Term Loan Facility interest rate was calculated using Adjusted SOFR plus a margin of 1.200% based on our credit rating as of December 31, 2025 and 2024.
(3)We incurred debt origination and legal costs in connection with the amendment and restatement of the 2024 Term Loan Facility in 2024, which remain to be amortized through the maturity date. Additionally, in connection with extending the maturity date in September 2025, we incurred additional costs which will continue to be amortized through the extended maturity date of the 2024 Term Loan Facility.
(4)During the year ended December 31, 2025, we exercised our option to extend the maturity date by 12 months to October 3, 2026. The maturity date may be extended by an additional 12-month period, at the Operating Partnership’s election.
Financial Covenants and Restrictions

The unsecured revolving credit facility, unsecured term loan facility, unsecured senior notes, including the private placement notes, and certain other secured debt arrangements contain covenants and restrictions requiring us to meet certain financial ratios and reporting requirements. Some of the more restrictive financial covenants include a maximum ratio of total debt to total asset value, a minimum fixed-charge coverage ratio, a maximum ratio of secured debt to total asset value, a minimum unsecured debt ratio, and a minimum unencumbered asset pool debt service coverage ratio. Noncompliance with one or more of the covenants and restrictions could result in the full principal balance of the associated debt becoming immediately due and payable. We were in compliance with all of our financial covenants as of December 31, 2025 and 2024.

Debt Maturities

The following table summarizes the stated debt maturities and scheduled amortization payments for all outstanding debt as of December 31, 2025:

Year(in thousands)
2026$601,317 
2027249,125 
2028400,000 
2029475,000 
2030500,000 
Thereafter2,400,000 
Total aggregate principal value
$4,625,442 
Less: unamortized net discounts and deferred financing costs (1)
(35,983)
Total debt, net$4,589,459 
________________________ 
(1)     Includes $25.0 million of unamortized deferred financing costs for the unsecured term loan facility, unsecured senior notes, and secured debt, and $11.0 million of unamortized discounts for the unsecured senior notes. Excludes unamortized deferred financing costs on the unsecured revolving credit facility, which are included in Prepaid expenses and other assets, net on our consolidated balance sheets.

Capitalized Interest

The following table sets forth our gross interest expense and capitalized interest. The interest expense capitalized was recorded as a cost of development and redevelopment and increased the carrying value of undeveloped land and construction in progress currently under construction:
Year Ended December 31,
202520242023
(in thousands)
Gross interest expense$211,379 $227,748 $192,983 
Capitalized interest(85,087)(82,461)(78,767)
Interest expense$126,292 $145,287 $114,216 
v3.25.4
Deferred Revenue and Acquisition-Related Intangible Liabilities, net
12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Deferred Revenue and Acquisition-Related Intangible Liabilities, net Deferred Revenue and Acquisition-Related Intangible Liabilities, net
Deferred revenue and acquisition-related intangible liabilities, net consisted of the following:
December 31, 2025December 31, 2024
(in thousands)
Deferred revenue related to tenant-funded tenant improvements, net
$70,813 $81,738 
Other deferred revenue, net (1)
28,136 33,281 
Acquisition-related intangible liabilities, net (2)
26,679 27,418 
Total$125,628 $142,437 
_____________________
(1)Represents cash received in advance of revenue recognition, net of accumulated amortization.
(2)See Note 5 “Deferred Leasing Costs and Acquisition-Related Intangible Assets and Liabilities, net” for additional information regarding our acquisition-related intangible liabilities.

Deferred Revenue Related to Tenant-funded Tenant Improvements

During the years ended December 31, 2025, 2024, and 2023, $14.6 million, $19.1 million, and $20.7 million, respectively, of deferred revenue related to tenant-funded tenant improvements was amortized and recognized as rental income. The following is the estimated amortization of deferred revenue related to tenant-funded tenant improvements as of December 31, 2025 for the next five years and thereafter:
Year Ending(in thousands)
2026$12,933 
202711,619 
202810,457 
20299,726 
20309,037 
Thereafter17,041 
Total$70,813 
v3.25.4
Noncontrolling Interests on the Company’s Consolidated Financial Statements
12 Months Ended
Dec. 31, 2025
Noncontrolling Interest [Abstract]  
Noncontrolling Interests on the Company’s Consolidated Financial Statements Noncontrolling Interests on the Company’s Consolidated Financial Statements
Common Units of the Operating Partnership

The Company owned an approximate 99.1% and 99.0% common general partnership interest in the Operating Partnership as of December 31, 2025 and 2024, respectively. The remaining approximate 0.9% and 1.0% common limited partnership interest as of December 31, 2025 and 2024, respectively, was owned by non-affiliated investors in the form of noncontrolling common units. There were 1,133,562 and 1,150,574 common units outstanding held by these investors as of December 31, 2025 and 2024, respectively.

The noncontrolling common units may be redeemed by unitholders for cash. Except under certain circumstances, we, at our option, may satisfy the cash redemption obligation with shares of the Company’s common stock on a one-for-one basis. If satisfied in cash, the value for each noncontrolling common unit upon redemption is the amount equal to the average of the closing quoted price per share of the Company’s common stock, par value $0.01 per share, as reported on the NYSE for the ten trading days immediately preceding the applicable redemption date. The aggregate value upon redemption of the then-outstanding noncontrolling common units was $43.2 million and $46.8 million as of December 31, 2025 and 2024, respectively. This redemption value does not necessarily represent the amount that would be distributed with respect to each noncontrolling common unit in the event of our termination or liquidation. In the event of our termination or liquidation, it is generally expected that each common unit would be entitled to a liquidating distribution equal to the liquidating distribution payable in respect of each share of the Company’s common stock.

Noncontrolling Interest in Consolidated Property Partnerships

Refer to Note 11 “Noncontrolling Interests on the Operating Partnership’s Consolidated Financial Statements” for additional information regarding these consolidated property partnerships.
v3.25.4
Noncontrolling Interests on the Operating Partnership’s Consolidated Financial Statements
12 Months Ended
Dec. 31, 2025
Noncontrolling Interest [Line Items]  
Noncontrolling Interests on the Operating Partnership’s Consolidated Financial Statements Noncontrolling Interests on the Company’s Consolidated Financial Statements
Common Units of the Operating Partnership

The Company owned an approximate 99.1% and 99.0% common general partnership interest in the Operating Partnership as of December 31, 2025 and 2024, respectively. The remaining approximate 0.9% and 1.0% common limited partnership interest as of December 31, 2025 and 2024, respectively, was owned by non-affiliated investors in the form of noncontrolling common units. There were 1,133,562 and 1,150,574 common units outstanding held by these investors as of December 31, 2025 and 2024, respectively.

The noncontrolling common units may be redeemed by unitholders for cash. Except under certain circumstances, we, at our option, may satisfy the cash redemption obligation with shares of the Company’s common stock on a one-for-one basis. If satisfied in cash, the value for each noncontrolling common unit upon redemption is the amount equal to the average of the closing quoted price per share of the Company’s common stock, par value $0.01 per share, as reported on the NYSE for the ten trading days immediately preceding the applicable redemption date. The aggregate value upon redemption of the then-outstanding noncontrolling common units was $43.2 million and $46.8 million as of December 31, 2025 and 2024, respectively. This redemption value does not necessarily represent the amount that would be distributed with respect to each noncontrolling common unit in the event of our termination or liquidation. In the event of our termination or liquidation, it is generally expected that each common unit would be entitled to a liquidating distribution equal to the liquidating distribution payable in respect of each share of the Company’s common stock.

Noncontrolling Interest in Consolidated Property Partnerships

Refer to Note 11 “Noncontrolling Interests on the Operating Partnership’s Consolidated Financial Statements” for additional information regarding these consolidated property partnerships.
Kilroy Realty L.P.  
Noncontrolling Interest [Line Items]  
Noncontrolling Interests on the Operating Partnership’s Consolidated Financial Statements Noncontrolling Interests on the Operating Partnership’s Consolidated Financial Statements
Consolidated Property Partnerships

The noncontrolling equity interests in 100 First LLC and 303 Second LLC as of December 31, 2025 and 2024 were $160.3 million and $169.4 million, respectively. The remaining amount of noncontrolling equity interests in consolidated property partnerships represents the third party equity interests in Redwood LLC. This noncontrolling equity interest was $4.7 million and $4.9 million as of December 31, 2025 and 2024, respectively.
v3.25.4
Stockholders' Equity of the Company
12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Stockholders' Equity of the Company Stockholders’ Equity of the Company
Common Stock

At-The-Market Stock Offering Program

Under our at-the-market (“ATM”) stock offering program (the “2024 ATM Program”), which commenced in March 2024, we may offer and sell shares of our common stock having an aggregate gross sales price up to $500.0 million from time to time in “at-the-market” offerings. In connection with the 2024 ATM Program, the Company may also, at its discretion, enter into forward equity sale agreements. The use of forward equity sale agreements allows the Company to lock in a share price on the sale of shares of our common stock at the time an agreement is executed, but defer settling the forward equity sale agreements and receiving the proceeds from the sale of shares until a later date. The Company did not have any outstanding forward equity sale agreements to be settled at December 31, 2025. Since commencement of the 2024 ATM Program, we have not completed any sales of common stock.
Share Repurchase Program

Under our current share repurchase program, which commenced in February 2024 (the “Share Repurchase Program”), we are authorized to repurchase shares of the Company’s common stock having an aggregate gross purchase price of up to $500.0 million. Under the Share Repurchase Program, repurchases may be made from time to time using a variety of methods, which may include open market purchases and privately negotiated transactions. The specific timing, price, and size of purchases will depend on prevailing stock prices, general economic and market conditions, and other considerations. The Share Repurchase Program does not have a termination date and repurchases may be discontinued at any time. As of December 31, 2025, the Share Repurchase Program had $500.0 million of available repurchase capacity. Since commencement of the Share Repurchase Program, we have not completed any common stock repurchases and did not repurchase any common stock under the previous share repurchase program approved by the Company’s Board of Directors in 2016 during the year ended December 31, 2023.

Accrued Dividends and Distributions

The following tables summarize accrued dividends and distributions for the noted outstanding shares of common stock and noncontrolling units:
December 31, 2025December 31, 2024
(in thousands)
Dividends and Distributions payable to:
Common stockholders$63,921 $63,745 
Noncontrolling common unitholders of the Operating Partnership612 621 
RSU holders (1)
476 484 
Total accrued dividends and distribution to common stockholders and noncontrolling unitholders$65,009 $64,850 
_____________________
(1)The amount includes the value of the dividend equivalents that will be paid with additional RSUs (See Note 14 “Share-Based and Other Compensation” for additional information).

 December 31, 2025December 31, 2024
Outstanding Shares and Units:
Common stock118,372,451 118,046,674 
Noncontrolling common units1,133,562 1,150,574 
RSUs (1)
846,072 861,385 
_____________________
(1)The amount includes nonvested RSUs. Does not include 1,394,111 and 926,695 performance-based RSUs because not all the necessary performance conditions have been met as of December 31, 2025 and 2024, respectively. Refer to Note 14 “Share-Based and Other Compensation” for additional information.
v3.25.4
Partners' Capital of the Operating Partnership
12 Months Ended
Dec. 31, 2025
Partners' Capital [Abstract]  
Partners' Capital of the Operating Partnership Partners’ Capital of the Operating Partnership
Common Units

Common Units Outstanding

The following table sets forth the number of common units held by the Company as the general partner and the number of common units held by non-affiliated investors in the form of common limited partner units as well as the ownership interest held on each respective date:
December 31, 2025December 31, 2024
Company owned common units in the Operating Partnership118,372,451 118,046,674 
Company owned general partnership interest99.1 %99.0 %
Non-affiliated investors and other common units of the Operating Partnership1,133,562 1,150,574 
Ownership interest of limited partnership interests0.9 %1.0 %

For a further discussion of the redemption features of the common units not owned by the Company as of December 31, 2025 and 2024, refer to Note 10 “Noncontrolling Interests on the Company’s Consolidated Financial Statements.”

Accrued Distributions

The following tables summarize accrued distributions for the noted common units:
December 31, 2025December 31, 2024
 (in thousands)
Distributions payable to:
General partner$63,921 $63,745 
Common limited partners612 621 
RSU holders (1)
476 484 
Total accrued distributions to common unitholders$65,009 $64,850 
_____________________
(1)The amount includes the value of the dividend equivalents that will be paid with additional RSUs (See Note 14 “Share-Based and Other Compensation” for additional information).
December 31, 2025December 31, 2024
Outstanding Units:
Common units held by the general partner118,372,451 118,046,674 
Common units held by the limited partners1,133,562 1,150,574 
RSUs (1)
846,072 861,385 
_____________________
(1)Does not include 1,394,111 and 926,695 performance-based RSUs because not all the necessary performance conditions have been met as of December 31, 2025 and 2024, respectively. Refer to Note 14 “Share-Based and Other Compensation” for additional information.
v3.25.4
Share-Based and Other Compensation
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based and Other Compensation Share-Based and Other Compensation
Share-Based Incentive Compensation Plan

As of December 31, 2025, we maintained one share-based incentive compensation plan, the Kilroy Realty 2006 Incentive Award Plan, as amended (the “2006 Plan”). The Company has a currently effective registration statement registering 12.6 million shares of our common stock for possible issuance under our 2006 Plan. As of December 31, 2025, approximately 1.8 million shares were available for grant under the 2006 Plan. The calculation of shares available for grant is presented after taking into account a reserve to cover the vesting and payment of 2006 Plan awards that were outstanding on that date, including performance-based vesting awards at (i) levels actually achieved for the performance conditions (as defined below) for which the performance period has been completed, and (ii) at maximum levels for the performance conditions (as defined below) for which the performance period has not been completed.

The Executive Compensation Committee of the Company’s Board of Directors (the “Executive Compensation Committee”) may grant the following share-based awards to eligible individuals, as provided under the 2006 Plan: incentive stock options, nonqualified stock options, restricted stock (nonvested shares), stock appreciation rights, performance shares, performance stock units, dividend equivalents, stock payments, deferred stock, restricted stock units, profit interest units, performance bonus awards, performance-based awards, and other incentive awards. For each award granted under our share-based incentive compensation programs, the Operating Partnership simultaneously issues to the Company a number of common units equal to the number of shares of common stock ultimately paid by the Company in respect of such awards. The Executive Compensation Committee generally grants RSU awards to certain officers of the Company under the 2006 Plan annually in the first quarter. A portion of these awards are subject to service and/or performance vesting conditions (“Performance-Based RSUs”) and the remainder are subject to only service vesting conditions (“Time-Based RSUs”).

2025, 2024, and 2023 Annual Performance-Based RSU Grants

During each of the three years in the period ended December 31, 2025, the Executive Compensation Committee granted Performance-Based RSUs to certain officers of the Company under the 2006 Plan. The Performance-Based RSUs have a three-year performance measurement period. A target number of Performance-Based RSUs were awarded, and the final number of Performance-Based RSUs that vest (which may be more or less than the target number) will be based upon (i) during the first calendar year of the respective awards’ three-year performance measurement period, the achievement of a pre-set FFO per share goal that applies to 100% of the Performance-Based RSUs awarded (the “FFO Performance Condition”), and (ii) a performance measure that applies to 50% of the award based upon the Company’s average net debt to EBITDAre ratio for the three year performance period (the “Net Debt to EBITDAre Ratio Performance Condition”), and a market measure that applies to the other 50% of the award based upon the relative ranking of the Company’s total stockholder return for the three year performance period compared to the total stockholder returns of an established comparison group of companies over the same period (the “TSR Condition”). The Performance-Based RSUs are also subject to a three-year service vesting provision (the “Service Vesting Condition”) and are scheduled to cliff vest on the date the final vesting percentage is determined following the end of the three-year performance measurement period under the awards. The number of Performance-Based RSUs ultimately earned could fluctuate from the target number of Performance-Based RSUs granted based upon the levels of achievement for the above performance conditions. The estimate of the number of Performance-Based RSUs earned is evaluated quarterly during the performance period based on our estimate for each of the performance conditions relative to the applicable goals. Compensation expense for the Performance-Based RSU grants is recognized on a straight-line basis over the requisite service period for each participant, which is generally the three-year service period.

Each Performance-Based RSU represents the right to receive one share of our common stock in the future, subject to, and as modified by, the Company’s level of achievement of the applicable performance conditions. The fair values for the awards subject to the TSR Condition were calculated using a Monte Carlo simulation pricing model based on the assumptions in the table below. The determination of the fair values of the Performance-Based RSUs take into consideration the likelihood of achievement of the TSR Condition and the share price on the grant date. The following table summarizes the estimated number of RSUs earned for the 2025 and 2024 Performance-
Based RSUs and the actual number of RSUs earned for the 2023 Performance-Based RSUs and the assumptions utilized in the Monte Carlo simulation pricing models:
2025
2024
2023
Service vesting periodFebruary 14, 2025 - January, 2028February 1, 2024 - January, 2027February 6, 2023 - January, 2026
Performance measurement period
January 1, 2025 - December 31, 2027
January 1, 2024 - December 31, 2026
January 1, 2023 - December 31, 2025
Target RSUs granted308,671265,205300,007
Estimated RSUs earned net of forfeitures (1)
472,942474,214729,890
Fair Value Assumptions:
Valuation dateFebruary 14, 2025February 1, 2024February 6, 2023
Fair value on valuation date (in millions)$11.3$9.5$12.0
Weighted average fair value per share
$36.49$35.66$39.95
Expected share price volatility38.0 %34.0 %35.0 %
Risk-free interest rate4.35 %3.98 %4.12 %
_____________________
(1)Estimated RSUs earned for the 2025 and 2024 Performance-Based RSUs are based on the actual achievement of the applicable FFO Performance Condition and estimated achievement of the Net Debt to EBITDA Ratio Performance Condition and the TSR Condition. The 2023 Performance-Based RSUs earned are based on actual achievement of the FFO Performance Condition, the Net Debt to EBITDA Ratio Performance Condition, and the TSR Condition upon completion of the performance measurement period at December 31, 2025.

Summary of Performance-Based RSUs

A summary of our Performance-Based RSUs activity from January 1, 2025 through December 31, 2025 is presented below:
Nonvested RSUsVested RSUsTotal RSUs
Amount
Weighted-Average
Grant-Date
Fair Value
Per Share
Outstanding at January 1, 2025 (1)
926,695 $42.26 81,274 1,007,969 
Granted308,671 36.49 — 308,671 
Performance award achievement adjustment (2)
294,387 36.51 — 294,387 
Vested(183,474)62.93 183,474 — 
Settled
— — (137,016)(137,016)
Issuance of dividend equivalents (3)
91,948 35.87 7,352 99,300 
Forfeited
(44,116)37.24 — (44,116)
Outstanding as of December 31, 2025 (4)
1,394,111 $37.11 135,084 1,529,195 
____________________
(1)Effective 2025, management updated the presentation of the opening balance to reflect the performance adjustment related to Net Debt to EBITDA Ratio Performance Condition and the TSR Condition.
(2)Represents performance adjustments above target based on the actual achievement for 2023 awards and estimated achievement for 2024 and 2025 awards.
(3)Represents the issuance of dividend equivalents earned on the underlying RSUs. The dividend equivalents vest based on terms specified under the related RSU award agreements.
(4)Outstanding nonvested RSUs as of December 31, 2025 represent the actual achievement of the 2023 Performance-Based RSUs and the estimated achievement of 2024 and 2025 Performance-Based RSUs as of December 31, 2025. Dividend equivalents earned will vest along with the underlying award and are also subject to changes based on the number of RSUs ultimately earned for each underlying award.

A summary of our Performance-Based RSUs activity for the years ended December 31, 2025, 2024, and 2023 is presented below:
RSUs GrantedRSUs Vested
Years ended December 31,
Non-Vested
RSUs Granted
Weighted-Average
Fair Value
Per Share
Vested RSUsTotal Vest-Date
Fair Value
(in thousands)
2025
308,671 $36.49 190,826 $7,016 
2024
265,205 $35.66 1,089,879 $38,364 
2023
300,007 $39.95 290,570 $11,105 
2025, 2024, and 2023 Time-Based RSU Grants

During each of the three years in the period ended December 31, 2025, the Executive Compensation Committee granted Time-Based RSUs to certain officers of the Company under the 2006 Plan. The Time-Based RSUs are generally scheduled to vest in three equal annual installments. Compensation expense for the Time-Based RSUs is recognized on a straight-line basis over the requisite service period, which is generally the explicit service period. Each Time-Based RSU represents the right to receive one share of our common stock in the future, subject to continued employment through the applicable vesting date.

Summary of Time-Based RSUs

A summary of our Time-Based RSUs activity from January 1, 2025 through December 31, 2025 is presented below:
Nonvested RSUsVested RSUsTotal RSUs
Amount
Weighted Average
Grant-Date Fair Value Per Share
Outstanding at January 1, 2025
537,426 $36.37 242,685 780,111 
Granted258,356 34.66 — 258,356 
Vested(313,893)40.85 313,893 — 
Settled
(347,900)(347,900)
Issuance of dividend equivalents (1)
27,154 35.87 18,668 45,822 
Forfeited(25,401)35.81 — (25,401)
Outstanding as of December 31, 2025
483,642 $35.37 227,346 710,988 
____________________
(1)Represents the issuance of dividend equivalents earned on the underlying RSUs. The dividend equivalents vest based on terms specified under the related RSU award agreements.

A summary of our Time-Based RSUs activity for the years ended December 31, 2025, 2024, and 2023 is presented below:
RSUs GrantedRSUs Vested
Year ended December 31,Non-Vested
RSUs Issued
Weighted-Average Grant Date Fair Value Per Share
Vested RSUs
Total Vest-Date
Fair Value (1)
(in thousands)
2025258,356 $34.66 332,561 $12,236 
2024385,718 $36.12 281,168 $10,878 
2023247,017 $38.12 343,334 $12,425 
____________________
(1)    Total fair value of RSUs vested was calculated based on the quoted closing share price of the Company’s common stock on the NYSE on the day of vesting. Excludes the issuance of dividend equivalents earned on the underlying RSUs. The dividend equivalents vest based on terms specified under the related RSU award agreement.


Share-Based Compensation Cost

The total compensation cost for all share-based compensation programs was $24.0 million, $24.4 million, and $43.7 million for the years ended December 31, 2025, 2024, and 2023, respectively. Share-based compensation costs for the year ended December 31, 2023 includes $27.3 million of accelerated share-based compensation costs for our former CEO and former President. Of the total share-based compensation costs, $4.9 million, $6.8 million, and $6.9 million was capitalized as part of real estate assets for the years ended December 31, 2025, 2024, and 2023, respectively. As of December 31, 2025, there was approximately $26.5 million of total unrecognized compensation cost related to nonvested incentive awards granted under share-based compensation arrangements and outstanding as of December 31, 2025. Such amount is based in part upon the estimated future outcome of the performance metrics as of December 31, 2025, and the actual compensation cost ultimately recognized could increase or decrease from this estimate based upon actual performance results. These costs are expected to be recognized over a weighted-average period of 1.7 years.
v3.25.4
Employee Benefit Plans
12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plans
401(k) Plan

We have a retirement savings plan designed to qualify under Section 401(k) of the Code (the “401(k) Plan”). Our employees are eligible to participate in the 401(k) Plan on the first day of the month after the date of hire. The 401(k) Plan allows eligible employees (“401(k) Participants”) to defer up to 60% of their eligible compensation on a pre-tax basis, subject to certain maximum amounts allowed by the Code. The 401(k) Plan provides for a matching contribution by the Company in an amount equal to 50 cents of each one dollar of participant contributions up to a maximum of 10% of the 401(k) Participant’s annual salary. 401(k) Participants vest immediately in the amounts contributed by us. For each of the years ended December 31, 2025, 2024, and 2023, we contributed $1.7 million, $1.8 million, and $1.7 million, respectively, to the 401(k) Plan.

Deferred Compensation Plan

In 2007, we adopted the Deferred Compensation Plan, under which directors and certain management employees may defer receipt of their compensation, including up to 70% of their salaries and up to 100% of their director fees and bonuses, as applicable. In addition, certain employee participants received mandatory Company contributions to their Deferred Compensation Plan accounts equal to 10% of their gross monthly salaries, without regard to whether such employees elect to defer salary or bonus compensation under the Deferred Compensation Plan. Our Board may, but has no obligation to, approve additional discretionary contributions by the Company to Participant accounts. We hold the Deferred Compensation Plan assets in a limited rabbi trust, which is subject to the claims of our creditors in the event of bankruptcy or insolvency.

See Note 18 “Fair Value Measurements and Disclosures” for further discussion of our Deferred Compensation Plan assets as of December 31, 2025 and 2024. Our liability of $30.2 million and $27.4 million under the Deferred Compensation Plan was fully funded as of December 31, 2025 and 2024, respectively.
v3.25.4
Rental Income and Future Minimum Rent
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Rental Income and Future Minimum Rent Rental Income and Future Minimum Rent
The table below sets forth the allocation of rental income between fixed and variable lease payments and net collectability considerations:
Year Ended December 31,
202520242023
(in thousands)
Fixed lease payments$900,285 $923,029 $944,618 
Variable lease payments194,374 197,502 184,672 
Impact from tenant creditworthiness considerations (1)
(1,072)(2,416)(11,553)
Total rental income$1,093,587 $1,118,115 $1,117,737 
____________________
(1)Represents reversal/reserve adjustments to rental income related to our assessment of the collectability of amounts due under leases with our tenants, including recognition of deferred rent balances associated with tenants moved to / restored from a cash basis of revenue recognition and allowances for uncollectible receivables.

We have operating leases with tenants that expire at various dates through 2050 and may be subject to scheduled fixed increases and future renewal options. Leases may also provide for reimbursements of certain property-related operating expenses. Future contractual minimum rent under operating leases, which includes amounts contractually due from leases that are on a cash basis of reporting due to creditworthiness considerations, as of December 31, 2025 for future periods is summarized as follows:
Year Ending(in thousands)
2026$769,406 
2027769,403 
2028742,321 
2029666,034 
2030583,844 
Thereafter1,591,508 
Total (1)
$5,122,516 
____________________
(1)Excludes residential leases, leases at properties classified as held for sale, and leases with an initial term of one year or less.
v3.25.4
Commitments and Contingencies
12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Development and Construction Commitments

As of December 31, 2025, we had commitments of approximately $283.9 million, excluding our ground lease commitments, for contracts and executed leases directly related to our operating and development and redevelopment properties.

Ground Leases

The following table summarizes our properties that are held subject to long-term non-cancellable ground lease obligations as of December 31, 2025 and the respective contractual expiration dates:
Property (1)
Contractual Expiration Date
701, 801, and 837 N. 34th Street, Seattle, WA (2)
December 2041
1701 Page Mill Road and 3150 Porter Drive, Palo Alto, CADecember 2067
Kilroy Airport Center Phases I, II, and III, Long Beach, CA (3)
July 2084
3243 S. La Cienega Boulevard, Los Angeles, CAOctober 2106
200 W. 6th Street, Austin, TXDecember 2112
____________________
(1)    Excludes one month-to-month ground lease.
(2) The Company has three 10-year and one 45-year extension options for this ground lease, which if exercised would extend the expiration date to December 2116. These extension options are not assumed to be exercised in our calculation of the present value of the future minimum lease payments for this lease. The Company also has a purchase option for this ground lease.
(3)    Assumes the impact of all extension options held by the Company.

To determine the discount rates used to calculate the present value of the minimum future lease payments for our ground leases, we used a hypothetical curve derived from unsecured corporate borrowing rates over the lease term. The weighted average discount rate used to determine the present value of our minimum lease payments was 4.67%. As of December 31, 2025, the weighted average remaining lease term of our ground leases is 62 years. For the years ended December 31, 2025, 2024, and 2023, variable lease costs totaling $5.0 million, $4.7 million, and $4.0 million, respectively, were recorded to ground leases expense on our consolidated statements of operations.

The minimum commitment under our ground leases as of December 31, 2025 for future periods is as follows:

Year Ending
(in thousands)
2026$6,809 
20276,850 
20286,869 
20296,869 
20306,869 
Thereafter360,875 
Total undiscounted cash flows (1) (2) (3) (4) (5) (6)
$395,141 
Present value discount(267,513)
Ground lease liabilities$127,628 
________________________
(1)Excludes contingent future rent payments based on gross income or adjusted gross income and reflects the minimum obligations under the ground leases including any extension options (but excluding the Seattle ground lease extension options).
(2)    Our 701, 801, and 837 N. 34th Street ground lease obligation is subject to a fair market value adjustment every five years based on CPI adjustments and every 15 years based on third-party appraisals. The contractual obligations for that ground lease included above assume the current annual ground lease obligation in effect at December 31, 2025 for the remainder of the lease term, as we cannot predict future adjustments.
(3)    Our 1701 Page Mill Road and 3150 Porter Drive ground lease obligation includes a component that is based on the percentage of adjusted gross income that exceeds the minimum ground rent. The minimum rent is subject to increases every 10 years by an amount equal to 60% of the average annual percentage rent for the previous three years. The contractual obligations for this lease included above assume the current annual ground lease obligation in effect at December 31, 2025 for the remainder of the lease term, as we cannot predict future adjustments.
(4)    Our Kilroy Airport Center Phases I, II, and III ground lease obligation is subject to a fair market value adjustment every five years based on a combination of CPI adjustments and third-party appraisals with predetermined maximum annual increases. The contractual obligations for that ground lease included above assume the contractual minimum annual rent prior to the consideration of any variable rental payments in effect at December 31, 2025 for the remainder of the lease term, as we cannot predict future adjustments.
(5)    Our 3243 S. La Cienega Boulevard ground lease obligation is subject to fixed 5% ground rent increases every five years, with the next increase occurring on November 1, 2027.
(6)    Our 200 W. 6th Street ground lease obligation is subject to fixed 2% annual ground rent increases, with resets occurring every ten years based on CPI. The contractual obligations for that ground lease included above assume increases for the remaining current ten-year period based on the contractual minimum annual rent prior to the consideration of any variable rental payments (1.5% of gross income) in effect at December 31, 2025.

Environmental Matters

We follow the policy of evaluating all of our properties, including acquisitions, developments and redevelopments, and existing stabilized properties, for the presence of hazardous or toxic substances. While there can be no assurance that a material environmental liability does not exist, we are not currently aware of any undisclosed environmental liability with respect to our stabilized portfolio properties that would have a material adverse effect on our financial condition, results of operations, and cash flows, or that we believe would require additional disclosure or the recording of a loss contingency.

We had the following accrued environmental remediation liabilities in connection with certain of our in-process and future development projects:
December 31, 2025December 31, 2024
(in thousands)
Environmental liabilities
$70,030 $72,003 

The accrued environmental remediation liabilities represent the remaining costs we estimate we will incur prior to and during the development process at various development sites. These estimates, which we developed with the assistance of third-party experts, consist primarily of the removal of contaminated soil, treatment of contaminated groundwater in connection with dewatering efforts, performance of environmental closure activities, construction of remedial systems, and other related costs that are necessary when we develop new buildings at these sites.

We record estimated environmental remediation obligations for acquired properties at the acquisition date when we are aware of such costs and when such costs are probable of being incurred and can be reasonably estimated. Estimated costs related to development environmental remediation liabilities are recorded as an increase to the cost of the development project. Actual costs are recorded as a decrease to the liability when incurred. These accruals are adjusted as an increase or decrease to the development project costs and as an increase or decrease to the accrued environmental remediation liability if we obtain further information or circumstances change. The environmental remediation obligations recorded at December 31, 2025 and 2024 were not discounted to their present values since the amount and timing of cash payments are not fixed. It is possible that we could incur additional environmental remediation costs in connection with these development projects. However, potential additional environmental costs for these development projects cannot be reasonably estimated at this time and certain changes in estimates could occur as the site conditions, final project timing, design elements, actual soil conditions, and other aspects of the projects, which may depend upon municipal and other approvals beyond the control of the Company, are determined.

Other than the accrued environmental liabilities discussed above, we are not aware of any unasserted claims and assessments with respect to an environmental liability or an asset retirement obligation that we believe would require additional disclosure or the recording of an additional loss contingency.

Litigation

We and our properties are subject to litigation arising in the ordinary course of business. To our knowledge, neither we nor any of our properties are presently subject to any litigation or threat of litigation which, if determined unfavorably to us, would have a material adverse effect on our cash flows, financial condition, or results of operations.

Insurance

We maintain comprehensive insurance coverage for our real estate portfolio, including commercial general liability, property, environmental, rental income, and specialty risk policies covering all properties. Management believes the policy specifications and insured limits are reasonable given the relative risk of loss, the cost of the coverage, and industry practice. We do not carry insurance for generally uninsurable losses such as loss from
governmental action, nuclear hazard, and war and military action. Policies are subject to various terms, conditions, and exclusions and some policies may involve large deductibles or co-payments.
v3.25.4
Fair Value Measurements and Disclosures
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements and Disclosures Fair Value Measurements and Disclosures
The only assets we record at fair value on a recurring basis in our consolidated financial statements are the marketable securities related to our Deferred Compensation Plan (See Note 15 “Employee Benefit Plans” for additional information). The following table sets forth the fair value of our Deferred Compensation Plan:

Fair Value (Level 1) (1)
December 31, 2025December 31, 2024
Description(in thousands)
Deferred Compensation Plan assets (2)
$30,807 $27,965 
____________________
(1)Based on quoted prices in active markets for identical securities.
(2)The Deferred Compensation Plan assets are held in a limited rabbi trust.

Financial Instruments Disclosed at Fair Value

The following table sets forth the carrying value and the fair value of our other financial instruments: 

December 31, 2025December 31, 2024
Carrying Value
Fair Value
Carrying Value
Fair Value
(in thousands)
Liabilities
Secured debt, net$592,685 $587,244 $598,199 $569,061 
Unsecured debt, net$3,996,774 $3,834,485 $3,999,566 $3,681,914 

Fair value is calculated using Level 2 inputs, which are based on model-derived valuations in which significant inputs and significant value drivers are observable in active markets.
v3.25.4
Net Income Available to Common Stockholders Per Share of the Company
12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Net Income Available to Common Stockholders Per Share of the Company Net Income Available to Common Stockholders Per Share of the Company
The following table reconciles the numerator and denominator in computing the Company’s basic and diluted per-share computations for net income available to common stockholders:
Year Ended December 31,
202520242023
(in thousands, except share and per share amounts)
Numerator:
Net income available to common stockholders$276,121 $210,969 $212,241 
Allocation to participating securities (1)
(925)(1,967)(1,233)
Numerator for basic and diluted net income available to common stockholders$275,196 $209,002 $211,008 
Denominator: 
Basic weighted average vested shares outstanding118,278,990 117,649,111 117,160,173 
Effect of dilutive securities 553,045 507,876 346,082 
Diluted weighted average vested shares and common stock equivalents outstanding118,832,035 118,156,987 117,506,255 
Basic earnings per share: 
Net income available to common stockholders per share$2.33 $1.78 $1.80 
Diluted earnings per share: 
Net income available to common stockholders per share$2.32 $1.77 $1.80 
_____________________ 
(1)Participating securities include certain time-based RSUs and vested market measure-based RSUs.

Share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are considered participating securities. The impact of potentially dilutive common shares, including RSUs, are considered in our diluted earnings per share calculation for the years ended December 31, 2025, 2024, and 2023. Certain performance-based RSUs are not included in dilutive securities as of December 31, 2025, 2024, and 2023 as not all performance metrics had been met by the end of the applicable reporting periods. Additionally, certain unvested time-based RSUs are not included in dilutive securities for the year ended December 31, 2023 as they were anti-dilutive.
See Note 14 “Share-Based and Other Compensation” for additional information regarding the RSUs.
v3.25.4
Net Income Available to Common Unitholders Per Unit of the Operating Partnership
12 Months Ended
Dec. 31, 2025
Net Income Available To Common Unitholders [Line Items]  
Net Income Available to Common Unitholders Per Unit of the Operating Partnership Net Income Available to Common Stockholders Per Share of the Company
The following table reconciles the numerator and denominator in computing the Company’s basic and diluted per-share computations for net income available to common stockholders:
Year Ended December 31,
202520242023
(in thousands, except share and per share amounts)
Numerator:
Net income available to common stockholders$276,121 $210,969 $212,241 
Allocation to participating securities (1)
(925)(1,967)(1,233)
Numerator for basic and diluted net income available to common stockholders$275,196 $209,002 $211,008 
Denominator: 
Basic weighted average vested shares outstanding118,278,990 117,649,111 117,160,173 
Effect of dilutive securities 553,045 507,876 346,082 
Diluted weighted average vested shares and common stock equivalents outstanding118,832,035 118,156,987 117,506,255 
Basic earnings per share: 
Net income available to common stockholders per share$2.33 $1.78 $1.80 
Diluted earnings per share: 
Net income available to common stockholders per share$2.32 $1.77 $1.80 
_____________________ 
(1)Participating securities include certain time-based RSUs and vested market measure-based RSUs.

Share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are considered participating securities. The impact of potentially dilutive common shares, including RSUs, are considered in our diluted earnings per share calculation for the years ended December 31, 2025, 2024, and 2023. Certain performance-based RSUs are not included in dilutive securities as of December 31, 2025, 2024, and 2023 as not all performance metrics had been met by the end of the applicable reporting periods. Additionally, certain unvested time-based RSUs are not included in dilutive securities for the year ended December 31, 2023 as they were anti-dilutive.
See Note 14 “Share-Based and Other Compensation” for additional information regarding the RSUs.
Kilroy Realty L.P.  
Net Income Available To Common Unitholders [Line Items]  
Net Income Available to Common Unitholders Per Unit of the Operating Partnership Net Income Available to Common Unitholders Per Unit of the Operating Partnership
The following table reconciles the numerator and denominator in computing the Operating Partnership’s basic and diluted per-unit computations for net income available to common unitholders:
Year Ended December 31,
202520242023
(in thousands, except unit and per unit amounts)
Numerator:
Net income available to common unitholders$278,803 $213,031 $214,324 
Allocation to participating securities (1)
(925)(1,967)(1,233)
Numerator for basic and diluted net income available to common unitholders$277,878 $211,064 $213,091 
Denominator: 
Basic weighted average vested units outstanding119,428,865 118,799,685 118,310,747 
Effect of dilutive securities553,045 507,876 346,082 
Diluted weighted average vested units and common unit equivalents outstanding119,981,910 119,307,561 118,656,829 
Basic earnings per unit:
Net income available to common unitholders per unit$2.33 $1.78 $1.80 
Diluted earnings per unit: 
Net income available to common unitholders per unit$2.32 $1.77 $1.80 
____________________ 
(1)Participating securities include certain time-based RSUs and vested market measure-based RSUs.

Share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are considered participating securities. The impact of potentially dilutive common units, including RSUs, are considered in our diluted earnings per share calculation for the years ended December 31, 2025, 2024, and 2023. Certain performance-based RSUs are not included in dilutive securities as of December 31, 2025, 2024, and 2023 as not all performance metrics had been met by the end of the applicable reporting periods. Additionally, certain unvested time-based RSUs are not included in dilutive securities for the year ended December 31, 2023 as they were anti-dilutive.
See Note 14 “Share-Based and Other Compensation” for additional information regarding the RSUs.
v3.25.4
Supplemental Cash Flow Information of the Company and the Operating Partnership
12 Months Ended
Dec. 31, 2025
Supplemental Cash Flow Elements [Abstract]  
Supplemental Cash Flows Information of the Company and the Operating Partnership Supplemental Cash Flows Information of the Company and the Operating Partnership
Supplemental cash flows information of the Company is as follows:
Year Ended December 31,
202520242023
(in thousands)
SUPPLEMENTAL CASH FLOWS INFORMATION:
Cash paid for interest, net of capitalized interest of $79,542, $77,871, and $74,052 as of
   December 31, 2025, 2024, and 2023, respectively
$115,912 $126,668 $105,767 
Cash paid for amounts included in the measurement of ground lease liabilities$7,578 $6,484 $6,733 
NON-CASH INVESTING TRANSACTIONS:
Accrual for expenditures for operating properties and development and redevelopment properties$62,570 $54,190 $95,575 
Tenant improvements funded directly by tenants$3,026 $2,745 $7,364 
Remeasurement of ground lease liability and related right of use ground lease asset$— $4,782 $— 
NON-CASH FINANCING TRANSACTIONS:
Accrual of dividends and distributions payable to common stockholders and common
    unitholders (Note 12)
$65,009 $64,850 $64,440 

Supplemental cash flows information of the Operating Partnership is as follows:
 
Year Ended December 31,  
 202520242023
(in thousands)
SUPPLEMENTAL CASH FLOWS INFORMATION:
Cash paid for interest, net of capitalized interest of $79,542, $77,871, and $74,052 as of
December 31, 2025, 2024, and 2023, respectively
$115,912 $126,668 $105,767 
Cash paid for amounts included in the measurement of ground lease liabilities$7,578 $6,484 $6,733 
NON-CASH INVESTING TRANSACTIONS:
Accrual for expenditures for operating properties and development and redevelopment properties$62,570 $54,190 $95,575 
Tenant improvements funded directly by tenants$3,026 $2,745 $7,364 
Remeasurement of ground lease liability and related right of use ground lease asset$— $4,782 $— 
NON-CASH FINANCING TRANSACTIONS:
Accrual of distributions payable to common unitholders (Note 13)
$65,009 $64,850 $64,440 
v3.25.4
Tax Treatment of Distributions
12 Months Ended
Dec. 31, 2025
Tax Treatment of Distributions [Abstract]  
Tax Treatment of Distributions Tax Treatment of Distributions
The following table reconciles the dividends declared per share of common stock to the dividends paid per share of common stock as follows: 

Year Ended December 31,
Dividends202520242023
Dividends declared per share of common stock$2.16 $2.16 $2.16 
Less: Dividends declared in the current year and paid in the following year(0.54)(0.54)(0.54)
Add: Dividends declared in the prior year and paid in the current year0.54 0.54 0.54 
Dividends paid per share of common stock$2.16 $2.16 $2.16 

The unaudited income tax treatment for the dividends to common stockholders reportable as identified in the table above was as follows: 

Year Ended December 31,
Shares of Common Stock202520242023
Ordinary dividend (1) (2)
$1.43 66.34 %$1.92 88.75 %$2.09 96.67 %
Return of capital0.25 11.62 %0.24 11.02 %0.07 3.21 %
Capital gains
0.04 1.76 %0.01 0.23 %— 0.12 %
Unrecaptured section 1250 gains0.44 20.28 %— — %— — %
$2.16 100.00 %$2.16 100.00 %$2.16 100.00 %
____________________
(1)Total qualified dividend, which is a subset of, and is included in, the Ordinary dividend amount.
(2)The Tax Cuts and Jobs Act enacted on December 22, 2017 generally allows a deduction for noncorporate taxpayers equal to 20% of ordinary dividends distributed by a REIT (excluding capital gain dividends and qualified dividend income). The amount of dividend eligible for this deduction is referred to as the Section 199A Dividend. For the year ended December 31, 2025, the Section 199A Dividend is equal to the total ordinary income dividend.
v3.25.4
Segments
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segments Segments
Operating segments are defined as components of an enterprise that engage in business activities from which they may earn revenues and incur expenses and about which discrete financial information is available that is evaluated regularly by the Chief Operating Decision Maker (“CODM”). The CODM decides how resources are allocated and assesses performance on a recurring basis, at least quarterly. Our CODM is our CEO, who evaluates the operating performance and financial results of our consolidated portfolio based on Net Income through monthly operations meetings.

We conduct our business on a consolidated basis in one operating segment and therefore have one reportable segment. Asset information by segment is not reported because the Company does not use this measure to assess performance.

Our reportable segment derives its revenues primarily from rental revenue and related property income through the leasing of commercial real estate space to tenants. We recognize revenue from base rent (fixed lease payments), additional rent (variable lease payments, which consist of amounts due from tenants for common area maintenance, real estate taxes, percentage rent, and other recoverable costs), parking, and other lease-related revenue.

The following table presents Net Income:
Year Ended December 31,
202520242023
(in thousands)
REVENUES:
Rental income$1,093,587 $1,118,115 $1,117,737 
Other property income19,080 17,514 11,957 
Total revenues1,112,667 1,135,629 1,129,694 
EXPENSES:
Property expenses 243,726 243,441 228,964 
Real estate taxes 107,564 108,951 105,868 
Ground leases12,048 11,715 9,732 
General and administrative expenses73,108 71,074 94,264 
Leasing costs 10,352 8,764 6,506 
Depreciation and amortization354,854 356,182 355,278 
Total expenses801,652 800,127 800,612 
OTHER INCOME (EXPENSES):
Interest income
6,970 37,752 22,592 
Interest expense(126,292)(145,287)(114,216)
Other income (expense)
168 (992)830 
Gains on sales of depreciable operating properties127,038 — — 
Impairment of real estate assets
(16,259)— — 
Gain on sale of long-lived assets
— 5,979 — 
Total other expenses
(8,375)(102,548)(90,794)
NET INCOME$302,640 $232,954 $238,288 
v3.25.4
Schedule II - Valuation and Qualifying Accounts
12 Months Ended
Dec. 31, 2025
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule II - Valuation and Qualifying Accounts
SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS
Years ended December 31, 2025, 2024, and 2023
(in thousands)
 
 Balance at
Beginning
of Period
Charged to
Costs and
Expenses (1)
Deductions (2)
Balance
at End
of Period
Allowance for Uncollectible Tenant Receivables for the year ended
December 31,
2025 – Allowance for uncollectible tenant receivables$314 $420 $(490)$244 
2024 – Allowance for uncollectible tenant receivables$1,567 $374 $(1,627)$314 
2023 – Allowance for uncollectible tenant receivables$2,233 $1,524 $(2,190)$1,567 
Allowance for Deferred Rent Receivables for the year ended
December 31,
2025 – Allowance for deferred rent$— $$(1)$— 
2024 – Allowance for deferred rent$728 $— $(728)$— 
2023 – Allowance for deferred rent$965 $667 $(904)$728 
____________________
(1)Amounts do not reflect leases deemed not probable of collection for which we reversed the associated revenue under Topic 842. Also does not reflect the adjustment to restore leases previously deemed not probable of collection to an accrual basis.
(2)For the year ended December 31, 2024, includes reversals of allowance for doubtful accounts for tenants with an allowance at January 1, 2024, that were subsequently deemed not probable of collection and transitioned to a cash basis of reporting within the same year.
v3.25.4
Schedule III - Real Estate and Accumulated Depreciation
12 Months Ended
Dec. 31, 2025
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
Schedule III - Real Estate and Accumulated Depreciation
SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2025
 Initial CostGross Amounts at Which
Carried at Close of Period
Property LocationEncumb-
rances
Land and Improve-
ments
Buildings
and
Improve-
ments
Costs
Capitalized
Subsequent 
to
Acquisition/
Improvement
Land and Improve-
ments
Buildings
and
Improve-
ments
TotalAccumulated
Depreciation
Depreci-
ation
Life (1)
Date of
Acquisition
(A)/
Construction
(C) (2)
Rentable
Square
Feet (3)
(unaudited)
 ($ in thousands)
Commercial Real Estate Properties:
335 - 345 N. Maple Dr., Beverly Hills, CA (4)
$28,986 $154,148 $305 $28,986 $154,453 $183,439 $2,356 352025A306,366 
3101 - 3243 S. La Cienega Blvd., Culver City, CA150,718 31,033 8,524 150,718 39,557 190,275 29,276 352019A166,207 
2240 E. Imperial Highway, El Segundo, CA1,044 11,763 30,740 1,048 42,499 43,547 33,616 351983C122,870 
2250 E. Imperial Highway, El Segundo, CA2,579 29,062 38,157 2,547 67,251 69,798 63,889 351983C298,728 
2260 E. Imperial Highway, El Segundo, CA2,518 28,370 38,003 2,547 66,344 68,891 29,746 352012C298,728 
909 N. Pacific Coast Highway, El Segundo, CA3,577 34,042 60,611 3,565 94,665 98,230 61,673 352005C244,880 
999 N. Pacific Coast Highway, El Segundo, CA1,407 34,326 19,308 1,407 53,634 55,041 37,781 352003C138,389 
3750 Kilroy Airport Way, Long Beach, CA— 1,941 13,718 — 15,659 15,659 13,660 351989C10,718 
3760 Kilroy Airport Way, Long Beach, CA— 17,467 24,161 — 41,628 41,628 35,657 351989C166,761 
3780 Kilroy Airport Way, Long Beach, CA— 22,319 41,190 — 63,509 63,509 53,312 351989C221,452 
3800 Kilroy Airport Way, Long Beach, CA— 19,408 25,856 — 45,264 45,264 35,231 352000C192,476 
3840 Kilroy Airport Way, Long Beach, CA— 13,586 33,409 — 46,995 46,995 25,243 351999C138,441 
3880 Kilroy Airport Way, Long Beach, CA— 9,704 18,398 — 28,102 28,102 8,721 352013C96,922 
3900 Kilroy Airport Way, Long Beach, CA— 12,615 23,741 — 36,356 36,356 24,566 351997A130,935 
1350 Ivar Ave., Los Angeles, CA (5)
1,575 — 14,276 1,575 14,276 15,851 2,104 352020C16,448 
1355 Vine St., Los Angeles, CA (5)
17,588 — 120,294 17,588 120,294 137,882 18,232 352020C183,129 
1375 Vine St., Los Angeles, CA (5)
15,578 — 103,368 15,578 103,368 118,946 15,626 352020C159,236 
1395 Vine St., Los Angeles, CA (5)
278 — 3,261 278 3,261 3,539 481 352020C2,575 
1500 N. El Centro Ave., Los Angeles, CA (6)
9,235 21 64,156 9,235 64,177 73,412 21,890 352016C113,447 
1525 N. Gower St., Los Angeles, CA (6)
1,318 9,774 1,318 9,777 11,095 3,374 352016C9,610 
1575 N. Gower St., Los Angeles, CA (6)
22,153 51 120,294 22,153 120,345 142,498 33,933 352016C264,430 
6115 W. Sunset Blvd., Los Angeles, CA (6)
1,313 17,259 2,455 16,120 18,575 6,235 352015C26,238 
6121 W. Sunset Blvd., Los Angeles, CA (6)
11,120 4,256 42,373 8,703 49,046 57,749 14,678 352015C93,418 
8560 W. Sunset Blvd., West Hollywood, CA9,720 50,956 8,435 9,720 59,391 69,111 19,995 352016A76,359 
8570 W. Sunset Blvd., West Hollywood, CA31,693 27,974 7,277 31,693 35,251 66,944 12,137 352016A49,276 
8580 W. Sunset Blvd., West Hollywood, CA10,013 3,695 1,844 10,013 5,539 15,552 2,047 352016A6,875 
8590 W. Sunset Blvd., West Hollywood, CA39,954 27,884 6,157 39,954 34,041 73,995 11,092 352016A56,750 
12100 W. Olympic Blvd., Los Angeles, CA352 45,611 30,156 9,633 66,486 76,119 41,670 352003C155,679 
12200 W. Olympic Blvd., Los Angeles, CA4,329 35,488 32,085 3,977 67,925 71,902 52,690 352000C154,544 
12233 W. Olympic Blvd., Los Angeles, CA22,100 53,170 7,147 22,100 60,317 82,417 25,998 352012A156,746 
12312 W. Olympic Blvd., Los Angeles, CA3,325 12,202 12,741 3,399 24,869 28,268 21,516 351997A78,900 
2100/2110 Colorado Ave., Santa Monica, CA5,474 26,087 21,796 5,476 47,881 53,357 35,412 351997A104,853 
12225 El Camino Real, San Diego, CA1,700 9,633 4,890 1,673 14,550 16,223 11,750 351998A58,401 
12235 El Camino Real, San Diego, CA1,507 8,543 10,461 1,540 18,971 20,511 15,572 351998A53,751 
KILROY REALTY CORPORATION AND KILROY REALTY, L.P.
SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION – (Continued)
December 31, 2025
 Initial CostGross Amounts at Which
Carried at Close of Period
Property LocationEncumb-
rances
Land and Improve-
ments
Buildings
and
Improve-
ments
Costs
Capitalized
Subsequent 
to
Acquisition/
Improvement
Land and Improve-
ments
Buildings
and
Improve-
ments
TotalAccumulated
Depreciation
Depreci-
ation
Life (1)
Date of
Acquisition
(A)/
Construction
(C) (2)
Rentable
Square
Feet (3)
(unaudited)
 ($ in thousands)
12340 El Camino Real, San Diego, CA4,201 — 40,640 4,201 40,640 44,841 6,474 352022C110,950 
12390 El Camino Real, San Diego, CA3,453 11,981 12,910 3,453 24,891 28,344 16,959 352000C73,238 
12770 El Camino Real, San Diego, CA9,360 — 37,329 9,360 37,329 46,689 10,747 352016C75,035 
12780 El Camino Real, San Diego, CA18,398 54,954 24,329 18,398 79,283 97,681 35,624 352013A140,591 
12790 El Camino Real, San Diego, CA10,252 21,236 17,163 10,252 38,399 48,651 16,560 352013A87,944 
12830 El Camino Real, San Diego, CA $375,000(7)28,645 — 113,232 28,645 113,232 141,877 20,696 352021C196,444 
12860 El Camino Real, San Diego, CA(7)11,326 — 53,257 11,326 53,257 64,583 9,658 352021C92,042 
12348 High Bluff Dr., San Diego, CA1,629 3,096 10,270 1,629 13,366 14,995 10,115 351999C39,192 
12400 High Bluff Dr., San Diego, CA15,167 — 50,063 15,167 50,063 65,230 14,629 352022C216,518 
12707 High Bluff Dr., San Diego, CA3,013 8,032 1,400 3,013 9,432 12,445 775 352024A59,245 
12777 High Bluff Dr., San Diego, CA3,013 6,134 782 3,013 6,916 9,929 573 352024A44,486 
3579 Valley Centre Dr., San Diego, CA2,167 6,897 11,977 2,858 18,183 21,041 13,286 351999C54,960 
3611 Valley Centre Dr., San Diego, CA4,184 19,352 29,823 5,259 48,100 53,359 37,365 352000C132,425 
3661 Valley Centre Dr., San Diego, CA4,038 21,144 21,366 4,725 41,823 46,548 33,190 352001C124,756 
3721 Valley Centre Dr., San Diego, CA4,297 18,967 19,934 4,254 38,944 43,198 25,998 352003C117,777 
3811 Valley Centre Dr., San Diego, CA3,452 16,152 22,042 4,457 37,189 41,646 29,027 352000C118,912 
3745 Paseo Place, San Diego, CA (Retail)(7)24,358 — 76,879 24,358 76,879 101,237 16,296 352019C95,871 
2100 Kettner Blvd., San Diego, CA19,861 — 113,891 19,861 113,891 133,752 10,557 352022C212,915 
2305 Historic Decatur Rd., San Diego, CA5,240 22,220 12,114 5,240 34,334 39,574 19,661 352010A107,456 
3530 John Hopkins Ct., San Diego, CA (8)
4,225 31,258 332 4,262 31,553 35,815 190 352025A45,589 
3535 General Atomics Ct., San Diego, CA (8)
7,433 43,774 465 7,499 44,173 51,672 193 352025A80,543 
3550 John Hopkins Ct., San Diego, CA (8)
5,598 33,443 347 5,647 33,741 39,388 112 352025A62,739 
3565 General Atomics Ct., San Diego, CA (8)
4,057 24,355 253 4,093 24,572 28,665 84 352025A43,295 
4690 Executive Dr., San Diego, CA (9)
1,623 19,686 1,368 1,624 21,053 22,677 1,447 352025C52,074 
9455 Towne Centre Dr., San Diego, CA6,081 — 79,595 6,081 79,595 85,676 12,233 352021C160,444 
9514 Towne Centre Dr., San Diego, CA4,928 — 47,756 4,928 47,756 52,684 3,451 352023C70,616 
4100 Bohannon Dr., Menlo Park, CA4,835 15,526 1,525 4,860 17,026 21,886 7,743 352012A47,643 
4200 Bohannon Dr., Menlo Park, CA4,798 15,406 8,414 4,662 23,956 28,618 11,723 352012A43,600 
4300 Bohannon Dr., Menlo Park, CA6,527 20,958 8,047 6,470 29,062 35,532 14,265 352012A63,430 
4400 Bohannon Dr., Menlo Park, CA (10)
4,939 43,213 3,115 4,939 46,328 51,267 2,589 352025C48,414 
4500 Bohannon Dr., Menlo Park, CA6,527 20,957 6,035 6,470 27,049 33,519 12,920 352012A63,429 
4600 Bohannon Dr., Menlo Park, CA4,798 15,406 5,424 4,939 20,689 25,628 10,692 352012A48,413 
4700 Bohannon Dr., Menlo Park, CA6,527 20,958 1,576 6,470 22,591 29,061 10,384 352012A63,429 
1290 - 1300 Terra Bella Ave., Mountain View, CA28,730 27,555 13,522 28,730 41,077 69,807 13,628 352016A114,175 
680 E. Middlefield Rd., Mountain View, CA34,755 — 56,759 34,755 56,759 91,514 21,383 352014C171,676 
KILROY REALTY CORPORATION AND KILROY REALTY, L.P.
SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION – (Continued)
December 31, 2025
 Initial CostGross Amounts at Which
Carried at Close of Period
Property LocationEncumb-
rances
Land and Improve-
ments
Buildings
and
Improve-
ments
Costs
Capitalized
Subsequent 
to
Acquisition/
Improvement
Land and Improve-
ments
Buildings
and
Improve-
ments
TotalAccumulated
Depreciation
Depreci-
ation
Life (1)
Date of
Acquisition
(A)/
Construction
(C) (2)
Rentable
Square
Feet (3)
(unaudited)
 ($ in thousands)
690 E. Middlefield Rd., Mountain View, CA34,605 — 56,515 34,605 56,515 91,120 21,291 352014C171,215 
1701 Page Mill Rd., Palo Alto, CA— 99,522 117 — 99,639 99,639 27,030 352016A128,688 
3150 Porter Dr., Palo Alto, CA— 21,715 6,446 — 28,161 28,161 8,888 352016A36,886 
900 Jefferson Ave., Redwood City, CA (11)
16,668 — 109,784 18,063 108,389 126,452 38,994 352015C228,226 
900 Middlefield Rd., Redwood City, CA (11)
7,959 — 64,979 8,626 64,312 72,938 19,269 352015C119,616 
100 First St., San Francisco, CA (12)
49,150 131,238 86,415 49,150 217,653 266,803 125,428 352010A480,457 
100 Hooper St., San Francisco, CA148,815 (13)78,564 — 197,034 85,510 190,088 275,598 41,819 352018C417,914 
201 Third St., San Francisco, CA19,260 84,018 85,856 19,260 169,874 189,134 109,440 352011A355,960 
360 Third St., San Francisco, CA— 88,235 128,912 28,504 188,643 217,147 87,745 352011A436,357 
250 Brannan St., San Francisco, CA7,630 22,770 10,797 7,630 33,567 41,197 17,628 352011A100,850 
301 Brannan St., San Francisco, CA5,910 22,450 17,817 5,910 40,267 46,177 19,487 352011A82,834 
333 Brannan St., San Francisco, CA18,645 — 80,685 18,645 80,685 99,330 23,730 352016C185,602 
345 Brannan St., San Francisco, CA29,405 113,179 1,358 29,403 114,539 143,942 23,665 352018A110,050 
303 Second St., San Francisco, CA (14)
63,550 154,153 123,735 63,550 277,888 341,438 159,024 352010A784,658 
350 Mission St., San Francisco, CA52,815 — 212,906 52,815 212,906 265,721 64,520 352016C455,340 
345 Oyster Point Blvd., South San Francisco, CA13,745 18,575 13,745 18,576 32,321 4,504 352018A40,410 
347 Oyster Point Blvd., South San Francisco, CA14,071 18,289 44 14,071 18,333 32,404 4,455 352018A39,780 
349 Oyster Point Blvd., South San Francisco, CA23,112 22,601 352 23,112 22,953 46,065 6,824 352018A65,340 
350 Oyster Point Blvd., South San Francisco, CA23,719 — 177,047 23,719 177,047 200,766 22,614 352021C234,892 
352 Oyster Point Blvd., South San Francisco, CA23,449 — 165,524 23,449 165,524 188,973 23,061 352021C232,215 
354 Oyster Point Blvd., South San Francisco, CA19,538 — 141,063 19,538 141,063 160,601 22,126 352021C193,472 
365 Oyster Point Blvd., South San Francisco, CA (15)
— — — — — — 62 350C— 
10900 NE 4th St., Bellevue, WA25,080 150,877 66,352 25,080 217,229 242,309 106,671 352012A428,557 
601 108th Ave., Bellevue, WA— 214,095 99,439 42,680 270,854 313,534 136,292 352011A490,738 
2001 8th Ave., Seattle, WA84,076 371,154 36,691 84,076 407,845 491,921 53,879 352021A535,395 
320 Westlake Ave. North, Seattle, WA76,627 (16)14,710 82,018 16,653 14,710 98,671 113,381 41,086 352013A184,644 
321 Terry Ave. North, Seattle, WA(16)10,430 60,003 11,066 10,430 71,069 81,499 30,777 352013A135,755 
401 Terry Ave. North, Seattle, WA22,500 77,046 235 22,500 77,281 99,781 28,806 352014A174,530 
333 Dexter Ave. North, Seattle, WA42,854 — 328,064 42,854 328,064 370,918 48,068 352022C618,766 
701 N. 34th St., Seattle, WA— 48,027 16,696 — 64,723 64,723 28,986 352012A143,136 
801 N. 34th St., Seattle, WA— 58,537 23,925 — 82,462 82,462 37,188 352012A173,615 
837 N. 34th St., Seattle, WA— 37,404 8,619 — 46,023 46,023 21,410 352012A112,487 
200 W. 6th St., Austin, TX— — 664,974 — 664,974 664,974 60,117 352023C758,975 
Residential Properties:
1550 N. El Centro Ave., Los Angeles, CA (6)
16,970 39 139,686 16,970 139,725 156,695 38,230 352016C— 
KILROY REALTY CORPORATION AND KILROY REALTY, L.P.
SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION – (Continued)
December 31, 2025
 Initial CostGross Amounts at Which
Carried at Close of Period
Property LocationEncumb-
rances
Land and Improve-
ments
Buildings
and
Improve-
ments
Costs
Capitalized
Subsequent 
to
Acquisition/
Improvement
Land and Improve-
ments
Buildings
and
Improve-
ments
TotalAccumulated
Depreciation
Depreci-
ation
Life (1)
Date of
Acquisition
(A)/
Construction
(C) (2)
Rentable
Square
Feet (3)
(unaudited)
 ($ in thousands)
6390 De Longpre Ave., Los Angeles, CA (5)
12,112 — 162,693 12,112 162,693 174,805 22,108 352021C— 
3200 Paseo Village Way, San Diego, CA(7)106,419 — 272,319 106,419 272,319 378,738 46,203 352020C— 
TOTAL OPERATING PROPERTIES600,442 1,550,535 3,163,966 5,432,898 1,641,913 8,505,486 10,147,399 2,843,811 16,292,164 
Undeveloped land and construction in progress— 787,640 — 1,600,102 787,640 1,600,102 2,387,742 — — 
TOTAL ALL PROPERTIES$600,442 (17)$2,338,175 $3,163,966 $7,033,000 $2,429,553 $10,105,588 $12,535,141 $2,843,811 16,292,164 
____________________
(1)The initial costs of buildings and improvements are depreciated over 35 years using a straight-line method of accounting; improvements capitalized subsequent to acquisition or development are depreciated over the shorter of the lease term or useful life, generally ranging from one to 20 years.
(2)Represents our date of construction or acquisition, or of our predecessor, the Kilroy Group.
(3)Represents the square footage of our stabilized portfolio.
(4)This property was acquired in the third quarter of 2025.
(5)These properties include the allocated costs of a shared parking structure for a complex comprised of four office buildings and one residential tower.
(6)These properties include the allocated costs of a shared parking structure for a complex comprised of five office buildings and one residential tower.
(7)These properties secure a $375.0 million mortgage note.
(8)These properties were acquired in the fourth quarter of 2025.
(9)This property was taken out of the stabilized portfolio in the first quarter of 2022 for redevelopment in phases, and placed back into the stabilized portfolio during the third quarter of 2025, upon reaching one year from substantial completion of base building components.
(10)This property was taken out of the stabilized portfolio in the fourth quarter of 2022 for redevelopment, and placed back into the stabilized portfolio during the third quarter of 2025, upon reaching one year from substantial completion of base building components.
(11)These properties are owned by Redwood City Partners LLC, a consolidated property partnership.
(12)This property is owned by 100 First Street Member LLC, a consolidated property partnership.
(13)This property secures a $148.8 million mortgage note.
(14)This property is owned by 303 Second Street Member LLC, a consolidated property partnership.
(15)This property is currently in the tenant improvement phase of our in-process development projects and not yet in the stabilized portfolio. The estimated rentable square feet for this property is 871,738 rentable square feet.
(16)These properties secure a $76.6 million mortgage note.
(17)Represents gross aggregate principal amount before the effect of the deferred financing costs of $7.8 million as of December 31, 2025.
As of December 31, 2025, the aggregate gross cost of property included above for federal income tax purposes approximated $10.6 billion.

The following table reconciles the historical cost of total real estate held for investment from January 1, 2023 to December 31, 2025:

 Year Ended December 31,
 202520242023
 (in thousands)
Total real estate held for investment, beginning of year$12,659,195 $12,241,648 $11,732,183 
Additions during period:
Acquisitions338,678 21,941 — 
Improvements, etc.  249,704 400,880 511,866 
Total additions during period588,382 422,821 511,866 
Deductions during period:
Cost of real estate sold(483,776)— — 
Properties held for sale(221,693)— — 
Other(6,967)(5,274)(2,401)
Total deductions during period(712,436)(5,274)(2,401)
Total real estate held for investment, end of year$12,535,141 $12,659,195 $12,241,648 

The following table reconciles the accumulated depreciation from January 1, 2023 to December 31, 2025:

 Year Ended December 31,
 202520242023
 (in thousands)
Accumulated depreciation, beginning of year$2,824,616 $2,518,304 $2,218,710 
Additions during period:
Depreciation of real estate305,751 307,967 300,119 
Total additions during period305,751 307,967 300,119 
Deductions during period:
Write-offs due to sale(166,696)— — 
Properties held for sale(116,693)— — 
Other (3,167)(1,655)(525)
Total deductions during period(286,556)(1,655)(525)
Accumulated depreciation, end of year$2,843,811 $2,824,616 $2,518,304 
v3.25.4
Insider Trading Arrangements
3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Insider Trading Policies and Procedures
12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Cybersecurity

Our Board of Directors recognizes the critical importance of maintaining the trust and confidence of our tenants, investors, business partners, and employees, and is actively involved in the oversight of our enterprise risk management (“ERM”). As a key component of our ERM framework, the Board of Directors oversees cybersecurity risk as part of its overall risk oversight responsibilities. The Board of Directors has delegated primary oversight of cybersecurity and other information technology risks to the Audit Committee, which monitors management’s implementation and administration of our cybersecurity risk management program.

Our cybersecurity policies, standards, processes, and practices are integrated into our enterprise risk strategy and are explicitly mapped to the NIST Cybersecurity Framework (Identify, Protect, Detect, Respond, Recover). This framework defines how we structure, implement, and govern our controls, including risk assessments, monitoring, incident response, and recovery activities, alongside other applicable standards.

In general, we seek to address cybersecurity risks through a cross-functional approach that is focused on preserving the confidentiality, integrity, and availability of the information systems and information that we collect and store by identifying, preventing and mitigating cybersecurity threats and effectively responding to any incidents.

Risk Management and Strategy

Our cybersecurity program is focused on the following areas:

Governance. The Board of Directors’ oversight of cybersecurity risk management is supported by the Audit Committee, which regularly interacts with members of Kilroy’s executive team including our Senior Vice President, Chief Technology Officer (“CTO”), Executive Vice President, General Counsel and Secretary, and Senior Director, Cybersecurity.

Collaborative Approach. We have implemented a cross-functional approach to identifying, preventing, and mitigating cybersecurity threats and incidents.

Safeguards. We deploy technical and non-technical safeguards that are designed to protect our information systems from cybersecurity threats, including anti-malware, firewalls, intrusion prevention and detection systems, and privilege access controls, which are evaluated and improved through vulnerability assessments and control testing. We operate a security operations center which monitors our environment in a continuous manner.

Incident Response and Recovery Planning. We have established and maintain business continuity and technical recovery plans of critical systems and resources in the event of a cybersecurity incident, and such plans are tested and evaluated on a recurring basis. We also maintain a cybersecurity insurance policy, though the cost related to cybersecurity incidents or disruptions may not fully be covered.

Third Party Risk Management. We maintain a third-party cyber risk management program to identify and oversee cybersecurity risks presented by third-party providers, including vendors, consultants, service providers, and other external users of our system, as well as systems of third parties that could adversely impact our business in the event of a cybersecurity incident. We may conduct upfront diligence and ongoing monitoring and/or seek contractual protections depending on our assessment of each provider’s criticality to our operations, access to our systems and information, and overall risk profile. In the event that we identify a risk, we communicate the risk to the third party and monitor remediation.

Education and Awareness. We provide regular training, including ongoing end-user security awareness training and attack simulation assessments for employees regarding cybersecurity threats to equip our employees with tools
to address cybersecurity threats, and to communicate our evolving information security policies, standards, processes, and practices.

We are aware of known risks, including as a result of prior cybersecurity incidents, that have not materially affected us, including our operations, business strategy, results of operations, or financial condition. We face certain ongoing risks from cybersecurity threats that, if realized, are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition. See “Part 1. Item 1A. Risk Factors – We face risks associated with perceived or actual security breaches through cyberattacks, cyber intrusions or otherwise, as well as other significant disruptions of our information technology (IT) networks and related systems or those of our critical service providers.”
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Our cybersecurity policies, standards, processes, and practices are integrated into our enterprise risk strategy and are explicitly mapped to the NIST Cybersecurity Framework (Identify, Protect, Detect, Respond, Recover). This framework defines how we structure, implement, and govern our controls, including risk assessments, monitoring, incident response, and recovery activities, alongside other applicable standards.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
In connection with their oversight responsibilities, the Audit Committee receives periodic updates and the Board of Directors is briefed at least annually by our CTO on cybersecurity risks and related risk management, which includes topics such as the status of and specific metrics related to our cybersecurity program, recent developments, evolving standards and regulations, vulnerability assessments, third-party and independent reviews, the current threat environment, technology trends, and information security considerations arising with respect to our peers and third parties. Additionally, the Audit Committee receives prompt and ongoing information regarding significant cybersecurity incidents.

The CTO and Senior Director, Cybersecurity are primarily responsible for assessing and managing cybersecurity risks and work collaboratively across the business to implement a program designed to protect our information systems from cybersecurity threats and to promptly respond to any future cybersecurity incidents in accordance with our incident response and business continuity plans. Through ongoing communications, the CTO and Senior Director, Cybersecurity help our Executive Vice President, General Counsel and Secretary, among others, to stay informed of, and monitor the prevention, detection, mitigation, and remediation of cybersecurity threats and incidents.
Our CTO has more than 15 years of experience in senior information technology leadership roles spanning enterprise data, analytics, and corporate applications, with responsibilities that have included technology platform strategy, cybersecurity risk management, and operational resilience. The CTO also holds industry‑recognized credentials, including the Certified Information Security Manager (CISM) certification and a graduate certificate in Information Technology and Information Systems. Our Senior Director, Cybersecurity, brings extensive leadership experience in information security, having served as the Chief Information Security Officer for three public companies, and holds an undergraduate degree in Information Systems, a master’s degree in Cybersecurity and Information Assurance, and multiple professional certifications, including Certified Chief Information Security Officer and Certified Chief Risk Officer.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Board of Directors’ oversight of cybersecurity risk management is supported by the Audit Committee,
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The Board of Directors’ oversight of cybersecurity risk management is supported by the Audit Committee, which regularly interacts with members of Kilroy’s executive team including our Senior Vice President, Chief Technology Officer (“CTO”), Executive Vice President, General Counsel and Secretary, and Senior Director, Cybersecurity.
Cybersecurity Risk Role of Management [Text Block]
In connection with their oversight responsibilities, the Audit Committee receives periodic updates and the Board of Directors is briefed at least annually by our CTO on cybersecurity risks and related risk management, which includes topics such as the status of and specific metrics related to our cybersecurity program, recent developments, evolving standards and regulations, vulnerability assessments, third-party and independent reviews, the current threat environment, technology trends, and information security considerations arising with respect to our peers and third parties. Additionally, the Audit Committee receives prompt and ongoing information regarding significant cybersecurity incidents.

The CTO and Senior Director, Cybersecurity are primarily responsible for assessing and managing cybersecurity risks and work collaboratively across the business to implement a program designed to protect our information systems from cybersecurity threats and to promptly respond to any future cybersecurity incidents in accordance with our incident response and business continuity plans. Through ongoing communications, the CTO and Senior Director, Cybersecurity help our Executive Vice President, General Counsel and Secretary, among others, to stay informed of, and monitor the prevention, detection, mitigation, and remediation of cybersecurity threats and incidents.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] The Board of Directors’ oversight of cybersecurity risk management is supported by the Audit Committee, which regularly interacts with members of Kilroy’s executive team including our Senior Vice President, Chief Technology Officer (“CTO”), Executive Vice President, General Counsel and Secretary, and Senior Director, Cybersecurity.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our CTO has more than 15 years of experience in senior information technology leadership roles spanning enterprise data, analytics, and corporate applications, with responsibilities that have included technology platform strategy, cybersecurity risk management, and operational resilience. The CTO also holds industry‑recognized credentials, including the Certified Information Security Manager (CISM) certification and a graduate certificate in Information Technology and Information Systems. Our Senior Director, Cybersecurity, brings extensive leadership experience in information security, having served as the Chief Information Security Officer for three public companies, and holds an undergraduate degree in Information Systems, a master’s degree in Cybersecurity and Information Assurance, and multiple professional certifications, including Certified Chief Information Security Officer and Certified Chief Risk Officer.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] In connection with their oversight responsibilities, the Audit Committee receives periodic updates and the Board of Directors is briefed at least annually by our CTO on cybersecurity risks and related risk management, which includes topics such as the status of and specific metrics related to our cybersecurity program, recent developments, evolving standards and regulations, vulnerability assessments, third-party and independent reviews, the current threat environment, technology trends, and information security considerations arising with respect to our peers and third parties. Additionally, the Audit Committee receives prompt and ongoing information regarding significant cybersecurity incidents.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Basis of Presentation and Significant Accounting Policies (Policies)
12 Months Ended
Dec. 31, 2025
Basis of Presentation and Significant Accounting Policies [Abstract]  
Basis of Presentation The consolidated financial statements of the Company include the consolidated financial position and results of operations of the Company, the Operating Partnership, the Consolidated Property Partnerships, and all of our wholly-owned and controlled subsidiaries. The consolidated financial statements of the Operating Partnership include the consolidated financial position and results of operations of the Operating Partnership, the Consolidated Property Partnerships, and all of our wholly-owned and controlled subsidiaries. All intercompany balances and transactions have been eliminated in the consolidated financial statements.
Reclassification of Prior Period Amounts
Reclassification of Prior Period Amounts

Commencing January 1, 2025, the Company began presenting a new line item, Other income (expense), which includes tax expenses, acquisition and disposition expenses, and income or expenses related to environmental and sustainability initiatives, which were previously included in General and administrative expenses. Historical amounts for General and administrative expenses and Other income (expense) have been revised to conform with the current period presentation, which resulted in no change to consolidated net income.

During the year ended December 31, 2025, the Company combined certain line items in the Consolidated Statements of Equity. The Company determined that separate disclosure for certain line items was not meaningful to the users of the financial statements. The settlement of restricted stock units for shares of common stock is now presented net of shares withheld and payments made to settle tax obligations. Historical presentation has been revised to conform with the current period presentation. These presentation changes did not affect the total equity balance, net income, or earnings per share in any of the periods reported.
Partially Owned Entities and Variable Interest Entities
Partially Owned Entities and Variable Interest Entities

Our accounting policy is to consolidate entities in which we have a controlling financial interest and significant decision making control over the entity’s operations. In determining whether we have a controlling financial interest in a partially owned entity and the requirement to consolidate the accounts of that entity, we consider factors such as ownership interest, board representation, management representation, size of our investment (including loans), authority to control decisions, and contractual and substantive participating rights of the members. In addition to evaluating control rights, we consolidate entities in which the other members have no substantive kick-out rights to remove the Company as the managing member.

Entities in which the equity investors do not have sufficient equity at risk to finance their endeavors without additional financial support or the holders of the equity investment at risk do not have a controlling financial interest are variable interest entities (“VIEs”). We evaluate whether an entity is a VIE and whether we are the primary beneficiary. We are deemed to be the primary beneficiary of a VIE when we have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses or receive benefits that could potentially be significant to the VIE.
The Operating Partnership is a VIE that is consolidated by the Company as the primary beneficiary, as the Operating Partnership is a limited partnership in which the common limited partners do not have substantive kick-out or participating rights. If the requirements for consolidation are not met, the Company would account for investments under the equity method of accounting if we have the ability to exercise significant influence over the entity. Equity method investments would be initially recorded at cost and subsequently adjusted for our share of net income or loss and cash contributions and distributions each period.
Revenue Recognition, Base Rent, Additional Rent - Reimbursements from Tenants, Other Property Income, Uncollectible Lease Receivables and Allowance for Tenant and Deferred Rent Receivables
Revenue Recognition

Rental revenue for office, life science, retail, and residential operating properties is our principal source of revenue. We recognize revenue from base rent (fixed lease payments), additional rent (variable lease payments, which consist of amounts due from tenants for common area maintenance, real estate taxes, and other recoverable costs), parking, and other lease-related revenue once all of the following criteria are met: (i) the agreement has been fully executed and delivered, (ii) services have been rendered, (iii) the amount is fixed or determinable, and (iv) payment has been received or the collectability of substantially all of the amount due is probable. Minimum
annual rental revenues are recognized in rental revenues on a straight-line basis over the non-cancellable term of the related lease.

Base Rent

The timing of when we commence rental revenue recognition for office, life science, and retail properties depends largely on our conclusion as to whether we are or the tenant is the owner of tenant improvements at the leased property for accounting purposes. When we conclude that we are the owner of tenant improvements for accounting purposes, we record the cost to construct the tenant improvements as an asset and commence rental revenue recognition when the tenant takes possession of or controls the finished space, which is generally when tenant improvements being recorded as our assets are substantially complete. In certain instances, when we conclude that the tenant is the owner of certain tenant improvements for accounting purposes, rental revenue recognition begins when the tenant takes possession or controls the physical use of the leased space. The determination of who owns the tenant improvements is made on a lease-by-lease basis and has a significant effect on the timing of commencement of revenue recognition. Further, we may deliver leased space in phases, rather than for an entire building or project, resulting in various revenue commencement dates for a particular lease, which involves significant judgment surrounding when the tenant takes possession of or controls each respective phase, building or project.

When we conclude that we are the owner of tenant improvements for accounting purposes, we record the cost to construct the tenant improvements, including costs paid for or reimbursed by the tenants, as our capital asset. For these tenant-funded tenant improvements, we record the amount funded by or reimbursed by tenants as deferred revenue, which is amortized and recognized as rental income on a straight-line basis over the term of the related lease beginning upon substantial completion of the leased premises.

When we conclude that the tenant is the owner of certain tenant improvements for accounting purposes, we record our contribution towards those tenant-owned improvements as a lease incentive, which is included in deferred leasing costs and acquisition-related intangible assets, net, on our consolidated balance sheets and amortized as a reduction to rental revenue on a straight-line basis over the term of the related lease beginning upon substantial completion of the leased premises.

For residential properties, we commence revenue recognition upon lease commencement. Residential rental revenue is recognized on a straight-line basis over the term of the related lease, which is generally one year, net of any concessions.

When a lease is amended, we determine whether (i) an additional right of use not included in the original lease is being granted as a result of the modification, and (ii) there is an increase in the lease payments that is commensurate with the standalone price for the additional right of use. If both of these conditions are met, the amendment is accounted for as a separate lease contract. If either of those conditions are not met, the amendment is accounted for as a lease modification. Most of our lease amendments are accounted for as modifications of our operating leases, which requires us to reassess both the lease term and fixed lease payments, including any prepaid or deferred rent receivables relating to the original lease, as a part of the lease payments for the modified lease.

Termination options in some of our leases allow the tenant to terminate the lease, in part or in whole, prior to the end of the lease term under certain circumstances. Termination options generally require advance notification from the tenant and payment of a termination fee that reimburses us for a portion of the remaining rent under the original lease term and the net book value of lease inception costs such as commissions, tenant improvements and lease incentives. Termination fee income, included in rental income, is recognized on a straight-line basis from the date of the executed termination agreement through the revised lease expiration when the amount of the fee is determinable and collectability of the fee is probable. This fee income is reduced on a straight-line basis by any deferred rent receivable related to the lease.

Generally, our leases require the tenant to restore the leased space to standard office condition upon the expiration of the lease. In some circumstances, tenants may negotiate to pay us a restoration fee in lieu of restoring the space. Restoration fee income, included in rental income, is recognized on a straight-line basis from the date of
the executed restoration fee agreement through lease expiration when the amount of the fee is determinable and collectability of the fee is probable.

When tenants declare bankruptcy, we may be able to collect some portion of their past-due rents through the bankruptcy process, whether through applying security deposit balances, drawing on tenants’ letters of credit, or through bankruptcy settlements. We recognize any amounts collected through the bankruptcy process when cash is received.

Additional Rent - Reimbursements from Tenants

Leases typically provide for the reimbursement of certain property operating expenses accounted for as additional rent, which consists of amounts due from tenants for common area maintenance, real estate taxes, and other recoverable costs, and is recognized in rental income in the period the recoverable costs are incurred. Additional rent where we pay the associated costs directly to third-party vendors and are reimbursed by our tenants are recognized and recorded on a gross basis, with the associated expense recognized in property expenses or real estate taxes.

Other Property Income
Other property income primarily includes amounts recorded in connection with transient daily parking, broken deal income, and property damage settlement-related payments in excess of losses incurred received from third-party insurance carriers. Other property income also includes miscellaneous income from tenants and fees for late rental payments. Amounts recorded within other property income fall within the scope of ASC Topic 606 “Revenue from Contracts with Customers” and are recognized as revenue at the point in time when control of the goods or services transfers to the customer and our performance obligation is satisfied.For leases that are deemed probable of collection, revenue continues to be recorded on a straight-line basis over the non-cancellable lease term, with partial allowances for uncollectible accounts exhibiting a certain level of collection risk. For leases that are deemed not probable of collection, revenue is recorded as the lesser of (i) cash received, or (ii) the amount recognized on a straight-line basis with any tenant and deferred rent receivable balances charged as a direct write-off against rental income in the period of the change in the collectability determination. If the collectability determination subsequently changes to being probable of collection for leases for which revenue is recorded based on cash received from the tenant, we resume recognizing revenue, including deferred revenue, on a straight-line basis and recognize incremental revenue related to the reinstatement of cumulative deferred rent receivable and deferred revenue balances, as if revenue had been recorded on a straight-line basis since the inception of the lease.
Acquisitions
Acquisitions

Acquisitions of operating properties and development and redevelopment opportunities generally do not meet the definition of a business and are accounted for as asset acquisitions, as substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. For these asset acquisitions, we record the acquired tangible and intangible assets and assumed liabilities based on each asset’s and liability’s relative fair value compared to the total purchase price plus any capitalized closing costs, including costs incurred during negotiation.

Fair values are determined using estimated cash flow projections, market information and discount and/or capitalization rates, considering historical operating results, known and anticipated trends, and market and economic conditions. The acquired assets and assumed liabilities for an acquisition generally include, but are not limited to: (i) land and improvements, buildings and improvements, undeveloped land, and construction in progress, and (ii) identified tangible and intangible assets and liabilities associated with in-place leases, including tenant improvements, leasing costs, value of above-market and below-market operating leases and ground leases, acquired in-place lease values, and tenant relationships, if any. Any debt assumed and equity (including common units of the Operating Partnership) issued in connection with a property acquisition is recorded at relative fair value on the date of acquisition.

The fair value of land and improvements is derived from comparable sales of land and improvements within the same submarket and/or region. The fair value of buildings and improvements, tenant improvements, and leasing costs considers the value of the property as if it was vacant as well as current replacement costs and other relevant market rate information.

The fair value of the above-market or below-market component of an acquired in-place operating lease is based upon the present value (calculated using a market discount rate) of the difference between (i) the contractual rents to be paid pursuant to the lease over its remaining non-cancellable lease term, and (ii) management’s estimate of the rents that would be paid using fair market rental rates and rent escalations at the date of acquisition measured over the remaining non-cancellable term of the lease for above-market operating leases and the initial non-cancellable term plus the term of any below-market fixed rate renewal options, if applicable, for below-market operating leases. Our below-market operating leases generally do not include fixed rate or below-market renewal options. The amounts recorded for above-market operating leases are included in deferred leasing costs and acquisition-related intangible assets, net, on the balance sheet and are amortized on a straight-line basis as a reduction of rental income over the remaining term of the applicable leases. The amounts recorded for below-market operating leases are included in deferred revenue and acquisition-related intangible liabilities, net, on the balance sheet and are amortized on a straight-line basis as an increase to rental income over the remaining term of the applicable leases plus the term of any below-market fixed rate renewal options, if applicable. The amortization of a below-market ground lease obligation is recorded as an increase to ground lease expense in the consolidated statements of operations for the periods presented. The amortization of an above-market ground lease obligation is recorded as a decrease to ground lease expense in the consolidated statements of operations for the periods presented.

The fair value of acquired in-place leases is derived based on management’s assessment of lost revenue and costs incurred for the period required to lease the “assumed vacant” property to the occupancy level when purchased. This fair value is based on a variety of considerations, including, but not necessarily limited to: (i) the value associated with lost rental revenue from existing leases during the assumed lease-up period; (ii) the value associated with avoiding the cost of originating the acquired in-place leases; and (iii) the value associated with lost revenue related to tenant reimbursable operating costs estimated to be incurred during the assumed lease-up period. Factors we consider in performing these analyses include an estimate of the carrying costs during the expected lease-up periods, current market conditions, and costs to execute similar leases. In estimating carrying costs, we include real estate taxes, insurance, and other operating expenses, and estimates of lost rental revenue during the expected lease-up periods based on current market demand at market rates. In estimating costs to execute similar leases, we consider leasing commissions, legal, and other related expenses. The amount recorded for acquired in-place leases is included in deferred leasing costs and acquisition-related intangible assets, net on the balance sheet and amortized as an increase to depreciation and amortization expense over the remaining term of the applicable leases.
The determination of the fair value of any debt assumed in connection with a property acquisition is estimated by discounting the future cash flows using market interest rates available for the issuance of debt with similar terms and remaining maturities.

The determination of the fair value of the acquired tangible and intangible assets and assumed liabilities of acquisitions requires us to make significant judgments and assumptions about the numerous inputs discussed above. The use of different assumptions in these fair value calculations could significantly affect the reported amounts of the allocation of our acquisition related assets and liabilities and the related depreciation and amortization expense recorded for such assets and liabilities. In addition, because the value of above and below-market leases are amortized as either a reduction or increase to rental income, respectively, our judgments for these intangibles could have a significant impact on our reported rental revenues and results of operations.
Transaction costs associated with our acquisitions, including costs incurred during negotiation, are capitalized as part of the purchase price of the acquisition.
Operating Properties, Cost Capitalization, Depreciation and Amortization of Buildings and Improvements
Operating Properties

Operating properties are generally carried at historical cost less accumulated depreciation. Properties held for sale are reported at the lower of the carrying value or the fair value less estimated cost to sell. The cost of operating properties includes the purchase price or development costs of the properties. Costs incurred for the renovation and extension of the useful life of the operating properties are capitalized to our investment in that property. Maintenance and repairs are charged to expense as incurred.
Cost Capitalization

We capitalize all costs associated with development and redevelopment activities, capital improvements, and tenant improvements as project costs, including internal compensation costs related to those activities. In addition, the following costs are capitalized as project costs during periods in which activities necessary to prepare development and redevelopment properties for their intended use are in progress: pre-construction costs essential to the development of the property, interest costs based on the weighted average interest rate of our outstanding indebtedness for the period, real estate taxes, and insurance.

Determining whether expenditures meet the criteria for capitalization requires management to exercise significant judgment. Expenditures that meet one or more of the following criteria generally qualify for capitalization:
Provide benefit in future periods;
Extend the useful life of the asset beyond our original estimates; and
Increase the quality of the asset beyond our original estimates.

We define redevelopment properties as those properties for which we expect to spend significant development and construction costs pursuant to a formal plan to change its use, the intended result of which is a higher economic return on the property.

We define a property in the tenant improvement phase as a development or redevelopment property where the project has reached “cold shell condition” and is ready for tenant improvements, which may require additional major base building modifications before being placed in service. Projects in the tenant improvement phase are moved into our stabilized portfolio once the project reaches the earlier of 95% occupancy or one year from the date of the cessation of major base building construction activities.

For office, life science, and retail development and redevelopment properties, the date the capitalization period ends is based on property-specific leasing activity:
For properties that are pre-leased, we cease capitalization when revenue recognition has commenced on the leased space, which is upon substantial completion of tenant improvements deemed to be the Company’s asset for accounting purposes.
For properties that are not pre-leased, we may not immediately build out the tenant improvements. Therefore, we cease capitalization and begin depreciation on the portion of the property for which revenue recognition has commenced on the leased space, but in any event, no later than one year after the cessation of major base building construction activities. Revenue recognition commences on leased space upon substantial completion of the tenant improvements deemed to be the Company’s asset for accounting purposes. We also cease capitalization when activities necessary to prepare the property for its intended use have been suspended.

Once major base building construction activities have ceased and the development or redevelopment property (or phases thereof) have been placed in service, the costs capitalized to construction in progress are transferred to land and improvements, buildings and improvements, and deferred leasing costs on our consolidated balance sheets as the historical cost of the property.
Evaluation of Asset Impairment

We evaluate our real estate assets, including land held for future development, for potential impairment whenever events or changes in circumstances indicate that the carrying amount of a given asset may not be recoverable. This evaluation is performed property-by-property basis. Factors we use to determine whether an impairment evaluation is necessary include:
low occupancy levels, forecasted low occupancy levels, or near term lease expirations at a specific property;
current period operating or cash flow losses combined with a historical pattern or future projection of potential continued operating or cash flow losses at a specific property;
deterioration in rental rates for a specific property as evidenced by sudden significant rental rate decreases or continuous rental rate decreases over numerous quarters, which could signal a continued decrease in future cash flows for that property;
deterioration of a given rental submarket as evidenced by significant increases in market vacancy and/or negative absorption rates, or continuous increases in market vacancy and/or negative absorption rates over numerous quarters, which could signal a decrease in future cash flows for properties within that submarket;
significant increases in property sales yields, continuous increases in property sales yields over several quarters, or recent property sales at a loss within a given submarket, each of which could signal a decrease in the market value of properties;
significant change in strategy or use of a specific property, or any other event that could result in a decreased holding period, including classifying a property as held for sale, or significant development delay;
evidence of material physical damage to the property; and
default by a significant tenant when any of the other indicators above are present.

When evaluating operating real estate assets to be held and used for potential impairment, including land held for future development, we first evaluate whether there are any indicators of impairment. If any impairment indicators are present for a specific real estate asset, we compare the asset’s net carrying amount to its estimated undiscounted future cash flows over the anticipated holding period. If the carrying amount exceeds these cash flows, we calculate an impairment loss by comparing the carrying amount to the asset’s estimated fair value, using discounted cash flow models or third-party appraisals. An impairment loss recognized sets a new cost basis for the asset, which is then depreciated over its remaining useful life. Assets held for sale are carried at the lower of carrying value or fair value less closing costs, and depreciation ceases.
Depreciation and Amortization of Buildings and Improvements and Furniture, Fixtures, and Other Long-Lived Assets
The costs of buildings and improvements, tenant improvements, and furniture, fixtures and other long-lived assets are depreciated using the straight-line method of accounting over the estimated useful lives set forth in the table below
Cash and Cash Equivalents and Restricted Cash
Cash and Cash Equivalents

We consider all highly-liquid investments, including certificates of deposit, with original maturities of three months or less to be cash equivalents.

Restricted Cash
Restricted cash consists of cash proceeds from dispositions that are temporarily held at qualified intermediaries for purposes of facilitating potential Section 1031 Exchanges, and cash held in escrow related to acquisition and disposition holdbacks. Restricted cash may also include cash held as collateral to provide credit enhancement for the Operating Partnership’s mortgage debt, including cash reserves for capital expenditures, tenant improvements, and property taxes.
Deferred Compensation Plan At the time eligible management employees (“Participants”) defer compensation or earn mandatory Company contributions, or if we were to make a discretionary contribution, we record compensation cost and a corresponding deferred compensation plan liability, which is included in accounts payable, accrued expenses, and other liabilities on our consolidated balance sheets. This liability is adjusted to fair value at the end of each accounting period based on the performance of the benchmark funds selected by each Participant, and the impact of adjusting the liability to fair value is recorded as an increase or decrease to compensation cost. The impact of adjusting the deferred compensation plan liability to fair value and the changes in the value of the marketable securities held in connection with the Deferred Compensation Plan generally offset and therefore do not significantly impact net income.
Deferred Financing Costs and Debt Discounts and Premiums
Deferred Financing Costs

Financing costs related to the origination or assumption of long-term debt are deferred and generally amortized into interest expense using the straight-line method of accounting, which approximates the effective interest method, over the contractual terms of the applicable financings. Deferred financing costs incurred in connection with the establishment of the unsecured revolving credit facility are initially recorded as prepaid assets on the balance sheet and subsequently amortized to interest expense over the contractual term of the facility, typically using the straight-line method.

Debt Discounts and Premiums
Original issuance debt discounts and discounts/premiums related to recording debt acquired in connection with operating property acquisitions at fair value are generally amortized and accreted on a straight-line basis, which approximates the effective interest method. Discounts are recorded as additional interest expense from date of issuance or acquisition through the contractual maturity date of the related debt. Premiums are recorded as a reduction to interest expense from the date of issuance or acquisition through the contractual maturity date of the related debt.
Noncontrolling Interests and Common Partnership Interests
Noncontrolling Interests - Common Units of the Operating Partnership in the Company’s Consolidated Financial Statements

Common units of the Operating Partnership within noncontrolling interests in the Company’s consolidated financial statements represent the common limited partnership interests in the Operating Partnership not held by the Company (“noncontrolling common units”). Noncontrolling common units are presented in the equity section of the Company’s consolidated balance sheets and are reported at their proportionate share of the net assets of the Operating Partnership. Noncontrolling interests with redemption provisions that permit the issuer to settle in either cash or shares of common stock must be further evaluated to determine whether equity or temporary equity classification on the balance sheet is appropriate. Since the common units contain such a provision, we evaluated the accounting guidance and determined that the common units qualify for equity presentation in the Company’s consolidated financial statements. Net income attributable to noncontrolling common units is allocated based on their relative ownership percentage of the Operating Partnership during the reported period. The noncontrolling interest ownership percentage is determined by dividing the number of noncontrolling common units by the total number of common units outstanding. The issuance or redemption of additional shares of common stock or common units results in changes to the noncontrolling interest percentage as well as the total net assets of the Company. As a result, all equity transactions result in an allocation between equity and the noncontrolling interest in the Company’s
consolidated balance sheets and statements of equity to account for the changes in the noncontrolling interest ownership percentage as well as the change in total net assets of the Company.

Noncontrolling Interests in Consolidated Property Partnerships

Noncontrolling interests in consolidated property partnerships represent the equity interests held by unrelated third parties in our three consolidated property partnerships (see Note 10 “Noncontrolling Interests on the Company’s Consolidated Financial Statements” and see Note 11 “Noncontrolling Interests on the Operating Partnership’s Consolidated Financial Statements”). Noncontrolling interests in consolidated property partnerships are not redeemable and are presented as permanent equity in the Company’s consolidated balance sheets. We account for the noncontrolling interests in consolidated property partnerships using the hypothetical liquidation at book value (“HLBV”) method to attribute the earnings or losses of the consolidated property partnerships between the controlling and noncontrolling interests. Under the HLBV method, the amounts reported as noncontrolling interests in consolidated property partnerships in the consolidated balance sheets represent the amounts the noncontrolling interests would hypothetically receive at each balance sheet reporting date under the liquidation provisions of the governing agreements assuming the net assets of the consolidated property partnerships were liquidated at recorded amounts and distributed between the controlling and noncontrolling interests in accordance with the governing documents. The net income attributable to noncontrolling interests in consolidated property partnerships in the consolidated statements of operations is associated with the increase or decrease in the noncontrolling interest holders’ contractual claims on the respective entities’ balance sheets assuming a hypothetical liquidation at the end of that reporting period when compared with their claims on the respective entities’ balance sheets assuming a hypothetical liquidation at the beginning of that reporting period, after removing the impact of any contributions or distributions.

Common Partnership Interests on the Operating Partnership’s Consolidated Balance Sheets

The common units held by the Company and the noncontrolling common units held by the common limited partners are both presented in the permanent equity section of the Operating Partnership’s consolidated balance sheets in partners’ capital. The redemption rights of the noncontrolling common units permit us to settle the redemption obligation in either cash or shares of the Company’s common stock at our option (see Note 10 “Noncontrolling Interests on the Company’s Consolidated Financial Statements” for additional information).

Noncontrolling Interests on the Operating Partnership’s Consolidated Financial Statements
Noncontrolling interests in the Operating Partnership’s consolidated financial statements include the noncontrolling interest in property partnerships (See Note 11 “Noncontrolling Interests on the Operating Partnership’s Consolidated Financial Statements”).
Equity Offerings
Equity Offerings

Underwriting commissions and offering costs incurred in connection with common equity offerings and any at-the-market stock offering programs (See Note 12 “Stockholders’ Equity of the Company”) are reflected as a reduction of additional paid-in capital.
The net proceeds from any equity offering of the Company are generally contributed to the Operating Partnership in exchange for a number of common units equivalent to the number of shares of common stock issued and are reflected in the Operating Partnership’s consolidated financial statements as an increase in partners’ capital.
Share-based Incentive Compensation Accounting
Share-Based Incentive Compensation Accounting

Compensation cost for all share-based awards requires measurement at estimated fair value on the grant date. Compensation cost is recognized on a straight-line basis over the requisite service period. The grant date fair value of share-based awards with market conditions are calculated using a Monte Carlo simulation pricing model. Forfeitures of all share-based awards are recognized when they occur.
For share-based awards in which the performance period precedes the grant date, we recognize compensation cost over the requisite service period, which includes both the performance and service vesting periods, using the accelerated attribution expense method. The requisite service period begins on the date the Executive Compensation Committee authorizes the award and adopts any relevant performance measures.

For share-based awards with performance conditions, the total estimated compensation cost is based on our most recent estimate of the probable achievement of the pre-established specific performance measures. These estimates are based on actual results and our latest internal forecasts for each performance measure. For share-based awards with market conditions, the total estimated compensation cost is based on the fair value of the award at the grant date. For share-based awards with performance conditions and market conditions, the total estimated compensation cost is based on the fair value per share at the grant date multiplied by our most recent estimate of the number of shares to be earned based on actual results and the probable achievement of the pre-established corporate performance measures based on our latest internal forecasts.

In accordance with the provisions of our share-based incentive compensation plan, we accept the return of shares of Company common stock, at the current quoted market price, from employees to satisfy minimum statutory tax-withholding requirements related to shares that vested during the period.
For share-based awards granted by the Company, the Operating Partnership issues a number of common units equal to the number of shares of common stock ultimately granted by the Company in respect of such awards.
Basic and Diluted Net Income Available to Common Stockholders per Share
Basic and Diluted Net Income Available to Common Stockholders per Share

Basic net income available to common stockholders per share is computed by dividing net income available to common stockholders after the allocation of income to participating securities, by the weighted-average number of shares of common stock outstanding for the period. Diluted net income available to common stockholders per share is computed by dividing net income available for common stockholders, after the allocation of income to participating securities, by the sum of the weighted-average number of shares of common stock outstanding for the period plus the assumed exercise of all dilutive securities. The impact of the outstanding common units is considered in the calculation of diluted net income available to common stockholders per share. The common units are not reflected in the diluted net income available to common stockholders per share calculation because the exchange of common units into common stock is on a one for one basis, and the common units are allocated net income on a per share basis equal to the common stock (See Note 19 “Net Income Available to Common Stockholders Per Share of the Company”). Accordingly, any exchange would not have any effect on diluted net income (loss) available to common stockholders per share.

Share-based payment awards (primarily vested restricted stock units (“RSUs”)) containing nonforfeitable rights to dividends or dividend equivalents are accounted for as participating securities and included in the computation of basic and diluted net income available to common stockholders per share pursuant to the two-class method. The dilutive effect of shares issuable under executed forward equity sale agreements, if any, are reflected in the weighted average diluted outstanding shares calculation by application of the treasury stock method. The dilutive effect of the outstanding nonvested shares of common stock (“nonvested shares”) and RSUs that have not yet been vested but are contingently issuable under the share-based compensation programs is reflected in the weighted average diluted shares calculation by application of the treasury stock method.

Basic and Diluted Net Income Available to Common Unitholders per Unit

Basic net income available to common unitholders per unit is computed by dividing net income available to the general partner and common unitholders, after the allocation of income to participating securities, by the weighted-average number of vested common units outstanding for the period. Diluted net income available to common unitholders per unit is computed by dividing net income available to the general partner and common unitholders, after the allocation of income to participating securities, by the sum of the weighted-average number of common units outstanding for the period plus the assumed exercise of all dilutive securities.
The dilutive effect of outstanding nonvested shares, RSUs, awards containing nonforfeitable rights to dividend equivalents and shares issuable under executed forward equity sale agreements, if any, are reflected in diluted net income available to the general partner and common unitholders per unit in the same manner as noted above for net income available to common stockholders per share.
Fair Value Measurements
Fair Value Measurements

The marketable securities held in connection with our Deferred Compensation Plan are recorded at fair value on a recurring basis in our consolidated financial statements. All other financial instruments of the Company, with the exception of our secured and unsecured debt instruments which are disclosed in Note 18 “Fair Value Measurements and Disclosures” to our consolidated financial statements, are recorded at amounts which, in management’s judgment, reasonably approximate their fair values. We elected not to apply the fair value option for any of our eligible financial instruments or other items.

We determine the estimated fair value of financial assets and liabilities utilizing a hierarchy of valuation techniques based on whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. This hierarchy requires the use of observable market data when available. The following is the fair value hierarchy:
Level 1 – quoted prices for identical instruments in active markets;
Level 2 – quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and
Level 3 – fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

We determine the fair value for the marketable securities using quoted prices in active markets for identical assets. Our other financial instruments, which are only disclosed at fair value, are comprised of certificates of deposit, secured debt, unsecured senior notes, unsecured revolving credit facility, and unsecured term loan facility.
We generally determine the fair value of our secured debt, unsecured senior notes, unsecured revolving credit facility, and unsecured term loan facility by performing discounted cash flow analyses using an appropriate market discount rate. For our fixed-rate debt instruments, including our secured debt and unsecured senior notes, we calculate the market rate by obtaining period-end treasury rates for maturities that correspond to the maturities of our fixed-rate debt and then adding an appropriate credit spread based on information obtained from third-party financial institutions. These credit spreads take into account factors, including, but not limited to, our credit profile, the tenure of the debt, amortization period, whether the debt is secured or unsecured, and the loan-to-value ratio of the debt to the collateral. These calculations are significantly affected by the assumptions used, including the discount rate, credit spreads, and estimates of future cash flows. We determine the fair value of each of our publicly traded unsecured senior notes based on their quoted trading price at the end of the reporting period, if such prices are available. For our floating-rate debt instruments, including our unsecured line of credit agreement and unsecured term loan, we calculate the market rate by obtaining Adjusted SOFR and then adding an appropriate credit spread based on our credit ratings.
Income Taxes
Income Taxes

We have elected to be taxed as a REIT under Sections 856 through 860 of the Code. To qualify as a REIT, we must distribute annually at least 90% of our adjusted taxable income, as defined in the Code, to our stockholders and satisfy certain other organizational and operating requirements. We generally will not be subject to federal income taxes if we distribute 100% of our taxable income for each year to our stockholders. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes on our taxable income at regular corporate rates and we may not be able to qualify as a REIT for four subsequent taxable years. Even if we qualify for taxation as a REIT, we may be subject to certain state and local taxes on our income and property and to federal income taxes and excise taxes on our undistributed taxable income. We believe that we have met all of the REIT distribution and
technical requirements for the years ended December 31, 2025, 2024, and 2023, and we were not subject to any federal income taxes (See Note 22 “Tax Treatment of Distributions” for additional information). We intend to continue to adhere to these requirements and maintain the Company’s REIT status. Accordingly, no provision for federal income taxes has been made in the accompanying financial statements.

In addition, any taxable income from our taxable REIT subsidiaries are subject to federal, state, and local income taxes. For the years ended December 31, 2025, 2024, and 2023 the taxable REIT subsidiaries had de minimis taxable income.
Uncertain Tax Positions
Uncertain Tax Positions

We include favorable tax positions in the calculation of tax liabilities if it is more likely than not that our adopted tax position will prevail if challenged by tax authorities.
We evaluated the potential impact of identified uncertain tax positions for all tax years still subject to audit under state and federal income tax law and concluded that we did not have any unrecognized tax benefits or any additional tax liabilities as of December 31, 2025 or 2024. As of December 31, 2025, the years still subject to audit are 2021 through 2025 under the California state income tax law, 2023 through 2025 under the Texas state income tax law and 2022 through 2025 under the federal income tax law.
Use of Estimates
Use of Estimates

The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from those estimates.
Segments
Segments

We currently operate as one reportable segment. See Note 23 “Segments” for additional information.
Concentration of Credit Risk
Concentration of Credit Risk

All of our business is currently conducted in the state of California, with the exception of the ownership and operation of ten stabilized office properties and one future development project located in the state of Washington, and one stabilized office property and one future development project located in Austin, Texas. The ability of tenants to honor the terms of their leases is dependent upon the economic, regulatory, and social factors affecting the communities in which our tenants operate.

We have deposited cash with financial institutions that is insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per institution. As of December 31, 2025 and 2024, we had cash accounts in excess of FDIC insured limits.
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements

Accounting Pronouncements Adopted January 1, 2025

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09 “Income Taxes (Topic 740): Improvements to Tax Disclosures.” The ASU is effective for annual periods beginning after December 15, 2024. The guidance did not have a material impact on our consolidated financial statements or notes to our consolidated financial statements.

Accounting Pronouncements Effective 2026 and Beyond

In November 2024, the FASB issued ASU 2024-03 “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” The ASU is effective for annual periods beginning after December 15, 2026. The Company is currently evaluating whether the guidance will have a material impact on our consolidated financial statements or notes to our consolidated financial statements.
v3.25.4
Organization and Ownership (Tables)
12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Real Estate Properties
Our stabilized portfolio of operating properties was comprised of the following properties at December 31, 2025:

Number of
Buildings
Rentable
Square Feet (unaudited)
Number of
Tenants
Percentage 
Occupied
(unaudited) (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.
(2)Includes stabilized life science and retail space.
Number of
Properties
Number of
Units
2025 Average Occupancy
(unaudited)
Stabilized Residential Properties31,001 94.1 %

As of December 31, 2025, the following projects were excluded from our stabilized portfolio:
Number of
Properties / Projects
Actual / Estimated Rentable
Square Feet (unaudited) (1)
Properties held for sale (2)
1427,764
In-process development project - tenant improvement
1871,738
____________________
(1)For the property classified as held for sale, represents actual rentable square feet and consists of three buildings. For the in-process development project in the tenant improvement phase, represents estimated rentable square feet upon completion.
(2)See Note 4 “Dispositions and Held For Sale” for additional information.
Schedule of Consolidated Property Partnership Ownership Percentage
Consolidated Property PartnershipProperty Address
Ownership Interest (1) (2)
100 First Street Member, LLC100 1st Street, San Francisco, CA 9410556%
303 Second Street Member, LLC303 2nd Street, San Francisco, CA 9410756%
Redwood City Partners, LLC900 Jefferson Avenue, Redwood City, CA 9406393%
900 Middlefield Road, Redwood City, CA 94063
________________________
(1)Reflects the Company’s ownership percentage at time of agreement. Actual percentage may vary depending on cash flows or promote structure.
(2)The remaining interests in all three property partnerships were owned by unrelated third parties.
v3.25.4
Basis of Presentation and Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2025
Basis of Presentation and Significant Accounting Policies [Abstract]  
Schedule of Total Assets, Liabilities, and Noncontrolling Interest The following table summarizes the total assets, liabilities, and noncontrolling interests included on our consolidated balance sheets attributable to these VIEs:
December 31, 2025December 31, 2024
($ in thousands)
Number of VIEs23
Total assets (1)
$380,940 $435,478 
Total liabilities$18,304 $18,047 
Total noncontrolling interests$160,299 $169,445 
____________________
(1)Includes $319.4 million and $357.3 million related to real estate assets held for investment, net, as of December 31, 2025 and 2024, respectively.
Schedule of Buildings, Improvements, and Tenant Improvements Depreciation Depreciation expense for buildings and improvements for the three years ended December 31, 2025, 2024, and 2023 was $305.8 million, $308.0 million, and $300.1 million, respectively:
Asset DescriptionDepreciable Lives
Buildings and improvements (1)
25 – 40 years
Tenant improvements (2)
1 - 20 years
Furniture, fixtures, and other long-lived assets (3)
1 - 5 years
____________________
(1)Building improvements associated with in-process capital improvement projects begin depreciation once placed in service.
(2)Tenant improvements are amortized over the shorter of the lease term or the estimated useful life.
(3)Accumulated depreciation for furniture, fixtures, and other long-lived assets is included in “Prepaid expense and other assets, net” on our consolidated balance sheets.
v3.25.4
Acquisitions (Tables)
12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Acquisitions
During the years ended December 31, 2025 and 2024, we acquired the operating properties listed below from unrelated third parties:
Property
Month of Acquisition
Number of Buildings
Rentable
Square Feet
(Unaudited)
Purchase Price (in millions) (1)
2025 Acquisitions
3530 & 3550 John Hopkins Court and
3535 & 3565 General Atomics Court
(Nautilus)
December4232,166$192.0 
335-345 N. Maple Drive (Maple Plaza)September1306,366205.3 
Total 2025 Acquisitions
5538,532$397.3 
2024 Acquisitions
12707 & 12777 High Bluff Drive (One Paseo Junction)September2103,731$35.0 
Total 2024 Acquisitions2103,731$35.0 
________________________ 
(1)Excludes closing costs and purchase price credits.
Schedule of Estimated Fair Values of the Assets Acquired and Liabilities Assumed The following table summarizes the estimated relative fair values of the assets acquired and liabilities assumed as of the date of acquisition, net of credits, and excluding acquisition-related costs of $0.8 million:
Total 2025 Operating
Property Acquisitions
Total 2024 Operating
Property Acquisitions
(in thousands)
Assets
Land
$50,382 $6,000 
Buildings and improvements
287,563 15,703 
Deferred leasing costs and acquisition-related intangible assets (1)
61,454 13,534 
Prepaid expenses and other assets, net— 30 
Total assets acquired$399,399 $35,267 
Liabilities
Acquisition-related intangible liabilities (2)
$2,981 $267 
Total liabilities assumed2,981 267 
Net assets and liabilities acquired$396,418 $35,000 
________________________ 
(1)For the 2025 operating property acquisitions, represents in-place leases (approximately $46.6 million with a weighted average amortization period of 4.4 years), leasing commissions (approximately $7.9 million with a weighted average amortization period of 4.7 years), and above-market leases (approximately $7.0 million with a weighted average amortization period of 4.7 years). For the 2024 operating property acquisitions, represents in-place leases (approximately $10.5 million with a weighted average amortization period of 4.7 years), leasing commissions (approximately $2.0 million with a weighted average amortization period of 4.9 years), and an above-market lease (approximately $1.0 million with a weighted average amortization period of 4.6 years).
(2)For the 2025 operating property acquisitions, represents below-market leases (approximately $3.0 million with a weighted average amortization period of 3.3 years). For the 2024 operating property acquisitions, represents below-market leases (approximately $0.3 million with a weighted average amortization period of 4.9 years).
v3.25.4
Dispositions and Real Estate Held For Sale (Tables)
12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Operating Properties and Land Dispositions The following table summarizes the operating properties sold during the year ended December 31, 2025:
LocationMonth of
Disposition
Number of BuildingsRentable
Square Feet (unaudited)
Sales Price
(in millions) (1)
2025 Dispositions
501 Santa Monica Boulevard, Santa Monica, CA (2)
June178,509 $40.0 
Silicon Valley Campus, CA (2)
September4663,460 365.0 
6255 W. Sunset Boulevard, Los Angeles, CA
(Sunset Media Center) (3)
December1325,772 61.0 
Total 2025 Dispositions61,067,741 $466.0 
____________________
(1)Represents gross sales price before broker commissions, closing costs, and purchase price credits.
(2)The total gains on the sales of the operating properties sold during the year ended December 31, 2025 was $127.0 million.
(3)During the three months and year ended December 31, 2025, we recognized an impairment charge of approximately $16.3 million to reduce the carrying amount of this property to its current fair value less closing costs.
The major classes of assets and liabilities of the property classified as held for sale as of December 31, 2025 were as follows:
Real estate and other assets held for sale, net(in thousands)
Land
$23,158 
Buildings and improvements198,535 
     Total real estate assets held for sale
221,693 
Accumulated depreciation and amortization(116,693)
     Total real estate assets held for sale, net
105,000 
Current receivables, net598 
Deferred rent receivables, net5,433 
Deferred leasing costs and acquisition-related intangible assets, net
3,939 
Prepaid expenses and other assets, net185 
     Total real estate and other assets held for sale, net$115,155 
Liabilities related to real estate assets held for sale
Accounts payable, accrued expenses, and other liabilities$663 
Deferred revenue and acquisition-related intangible liabilities, net1,882 
Rents received in advance and tenant security deposits2,400 
    Total liabilities related to real estate assets held for sale
$4,945 
v3.25.4
Deferred Leasing Costs and Acquisition-Related Intangible Assets and Liabilities, net (Tables)
12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Identified Deferred Leasing Costs and Acquisition-Related Intangible Assets
The following table summarizes our deferred leasing costs and acquisition-related intangible assets (acquired value of leasing costs, above-market operating leases, and in-place leases) and acquisition-related intangible liabilities (acquired value of below-market operating leases):
December 31, 2025December 31, 2024
Deferred Leasing Costs and Acquisition-related Intangible Assets, net:(in thousands)
Deferred leasing costs$310,936 $303,541 
Accumulated amortization(131,985)(136,171)
Deferred leasing costs, net178,951 167,370 
Above-market operating leases8,239 1,269 
Accumulated amortization(779)(156)
Above-market operating leases, net7,460 1,113 
In-place leases123,329 78,979 
Accumulated amortization(31,508)(21,525)
In-place leases, net91,821 57,454 
Total deferred leasing costs and acquisition-related intangible assets, net$278,232 $225,937 
Acquisition-related Intangible Liabilities, net (1):
Below-market operating leases$41,292 $38,413 
Accumulated amortization(14,613)(10,995)
Below-market operating leases, net26,679 27,418 
Total acquisition-related intangible liabilities, net$26,679 $27,418 
____________________
(1)Included in deferred revenue and acquisition-related intangible liabilities, net in the consolidated balance sheets. Refer to Note 9 “Deferred Revenue and Acquisition-Related Intangible Liabilities, net” for a detailed breakdown of this line item .
Schedule of Amortization for the Period Related to Deferred Leasing Costs and Acquisition-Related Intangibles
The following table sets forth amortization related to deferred leasing costs and acquisition-related intangibles:
Year Ended December 31,
202520242023
(in thousands)
Deferred leasing costs$31,670 $34,135 $31,771 
Above-market operating leases645 86 31 
In-place leases12,122 7,453 15,878 
Below-market operating leases(3,724)(3,607)(6,679)
Total$40,713 $38,067 $41,001 
Schedule of Estimated Annual Amortization Related to Deferred Leasing Costs and Acquisition-Related Intangibles
The following table sets forth the estimated annual amortization expense related to deferred leasing costs and acquisition-related intangibles as of December 31, 2025 for future periods:
Deferred
Leasing Costs
Above-Market Operating Leases
In-Place Leases
Below-Market Operating Leases
Year Ending(in thousands)
2026$32,410 $1,809 $21,138 $(4,530)
202728,802 1,620 16,914 (4,075)
202826,406 1,520 14,792 (3,739)
202922,950 1,371 12,083 (2,976)
203019,717 893 8,487 (2,593)
Thereafter48,666 247 18,407 (8,766)
Total$178,951 $7,460 $91,821 $(26,679)
____________________
(1)Refer to Note 2 “Basis of Presentation and Significant Accounting Policies” for presentation in the consolidated statements of operation
v3.25.4
Prepaid Expenses and Other Assets, net (Tables)
12 Months Ended
Dec. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Prepaid Expenses and Other Assets, Net
Prepaid expenses and other assets, net, consisted of the following:
December 31, 2025December 31, 2024
(in thousands)
Furniture, fixtures, and other long-lived assets, net (1)
$29,179 $26,316 
Prepaid expenses, net11,000 8,470 
Deferred financing costs, net (2)
9,150 12,692 
Other assets5,232 4,457 
Total prepaid expenses and other assets, net$54,561 $51,935 
____________________
(1)Includes $43.4 million and $40.2 million of accumulated depreciation for furniture, fixtures, and other long-lived assets as of as of December 31, 2025 and 2024, respectively.
(2)Refer to Note 8 “Secured and Unsecured Debt of the Operating Partnership” for a discussion of the deferred financing costs for the unsecured revolving credit facility.
v3.25.4
Secured and Unsecured Debt of the Operating Partnership (Tables) - Kilroy Realty L.P.
12 Months Ended
Dec. 31, 2025
Debt Instrument [Line Items]  
Schedule of Unsecured Revolving Credit and Term Loan Facility
The following table summarizes the balance and terms of our unsecured revolving credit facility:
Unsecured Revolving Credit Facility
December 31, 2025December 31, 2024
($ in thousands)
Outstanding borrowings$— $— 
Remaining borrowing capacity (1)
1,100,000 1,100,000 
Total borrowing capacity (1)
$1,100,000 $1,100,000 
Interest rate (2)
5.07 %5.69 %
Annual facility fee (3)
0.250%
Unamortized deferred financing costs (3)
$9,150 $12,692 
Maturity date (4)
July 31, 2028
____________________
(1)Remaining and total borrowing capacity are further reduced by the amount of our outstanding letters of credit which total approximately $5.2 million as of December 31, 2025 and December 31, 2024. We may elect to borrow, subject to bank approval and obtaining commitments for any additional borrowing capacity, up to an additional $500.0 million under an accordion feature pursuant to the terms of the unsecured revolving credit facility.
(2)Our unsecured revolving credit facility interest rate was calculated using the Secured Overnight Financing Rate (“SOFR”) plus a SOFR adjustment of 0.10% (together “Adjusted SOFR”) and a margin of 1.100% based on our credit rating as of December 31, 2025 and 2024. We may be entitled to a temporary 0.01% reduction in the interest rate provided we meet certain sustainability goals with respect to the ongoing reduction of greenhouse gas emissions.
(3)Our annual facility fee is paid on a quarterly basis and is calculated based on total borrowing capacity. In addition to the facility fee, we incurred debt origination and legal costs in connection with the amendment and restatement of the unsecured revolving credit facility in 2024. These costs are included in Prepaid expenses and other assets, net on our consolidated balance sheets, and will continue to be amortized through the maturity date of our unsecured revolving credit facility.
(4)The maturity date may be extended by two six-month periods, at the Operating Partnership’s election.
The following table summarizes the balance and terms of our 2024 Term Loan Facility:

2024 Term Loan Facility
December 31, 2025December 31, 2024
($ in thousands)
Outstanding borrowings (1)
$200,000 $200,000 
Interest rate (2)
5.02 %5.70 %
Unamortized deferred financing costs (3)
$277 $1,229 
Maturity date (4)
October 3, 2026October 3, 2025
____________________
(1)We may elect to borrow, subject to bank approval and obtaining commitments for any additional borrowing capacity, up to an additional $130.0 million, under an accordion feature pursuant to the terms of the 2024 Term Loan Facility, as of December 31, 2025.
(2)Our 2024 Term Loan Facility interest rate was calculated using Adjusted SOFR plus a margin of 1.200% based on our credit rating as of December 31, 2025 and 2024.
(3)We incurred debt origination and legal costs in connection with the amendment and restatement of the 2024 Term Loan Facility in 2024, which remain to be amortized through the maturity date. Additionally, in connection with extending the maturity date in September 2025, we incurred additional costs which will continue to be amortized through the extended maturity date of the 2024 Term Loan Facility.
(4)During the year ended December 31, 2025, we exercised our option to extend the maturity date by 12 months to October 3, 2026. The maturity date may be extended by an additional 12-month period, at the Operating Partnership’s election.
Schedule of Debt Maturities
The following table summarizes the stated debt maturities and scheduled amortization payments for all outstanding debt as of December 31, 2025:

Year(in thousands)
2026$601,317 
2027249,125 
2028400,000 
2029475,000 
2030500,000 
Thereafter2,400,000 
Total aggregate principal value
$4,625,442 
Less: unamortized net discounts and deferred financing costs (1)
(35,983)
Total debt, net$4,589,459 
________________________ 
(1)     Includes $25.0 million of unamortized deferred financing costs for the unsecured term loan facility, unsecured senior notes, and secured debt, and $11.0 million of unamortized discounts for the unsecured senior notes. Excludes unamortized deferred financing costs on the unsecured revolving credit facility, which are included in Prepaid expenses and other assets, net on our consolidated balance sheets.
Schedule of Capitalized Interest and Loan Fees
The following table sets forth our gross interest expense and capitalized interest. The interest expense capitalized was recorded as a cost of development and redevelopment and increased the carrying value of undeveloped land and construction in progress currently under construction:
Year Ended December 31,
202520242023
(in thousands)
Gross interest expense$211,379 $227,748 $192,983 
Capitalized interest(85,087)(82,461)(78,767)
Interest expense$126,292 $145,287 $114,216 
Secured debt  
Debt Instrument [Line Items]  
Schedule of Debt Balance and Significant Terms
The following table sets forth the composition of our secured debt:
Annual Stated
Interest Rate (1)
GAAP
Effective Rate (1) (2)
Maturity Date

December 31, 2025December 31, 2024
Type of Debt(in thousands)
Mortgage note payable3.57%3.80%December 2026$148,815 $152,668 
Mortgage note payable
4.48%4.57%July 202776,627 79,020 
Mortgage note payable5.90%6.13%August 2034375,000 375,000 
Total secured debt (3)
$600,442 $606,688 
Unamortized deferred financing costs(7,757)(8,489)
Total secured debt, net$592,685 $598,199 
____________________
(1)All interest rates presented are fixed-rate interest rates.
(2)Represents the effective interest rate including the amortization of initial issuance discounts and deferred financing costs.
(3)The secured debt and the related properties that secure this debt are held in a special purpose entity and the properties are not available to satisfy the debts and other obligations of the Company or the Operating Partnership.
Unsecured Senior Notes  
Debt Instrument [Line Items]  
Schedule of Debt Balance and Significant Terms
The following table summarizes the balance and significant terms of the unsecured senior notes issued by the Operating Partnership and outstanding, including unamortized discounts and unamortized deferred financing costs:

Maturity DateStated
Coupon
Rate
Effective
Interest
Rate (1) (2)
December 31, 2025December 31, 2024
(in thousands)
Private Placement Notes
Unsecured Senior Notes
July 20264.300%4.389%$50,000 $50,000 
Unsecured Senior Notes
October 20264.350%4.437%200,000 200,000 
Unsecured Senior Notes
February 20273.350%3.416%175,000 175,000 
Unsecured Senior Notes
February 20293.450%3.507%75,000 75,000 
Unsecured Senior Notes
January 20314.270%4.322%350,000 350,000 
Public Notes
Unsecured Senior Notes
October 20254.375%4.444%— 400,000 
Unsecured Senior Notes
December 20284.750%4.874%400,000 400,000 
Unsecured Senior Notes
August 20294.250%4.383%400,000 400,000 
Unsecured Senior Notes
February 20303.050%3.168%500,000 500,000 
Unsecured Senior Notes
November 20322.500%2.626%425,000 425,000 
Unsecured Senior Notes
November 20332.650%2.727%450,000 450,000 
Unsecured Senior Notes
October 20355.875%6.076%400,000 — 
Unsecured Senior Notes
January 20366.250%6.412%400,000 400,000 
Total Unsecured Senior Notes
$3,825,000 $3,825,000 
Less: Unamortized Net Discounts and Deferred Financing costs(27,949)(24,205)
Total Unsecured Senior Notes, Net (3)
$3,797,051 $3,800,795 
____________________
(1)Represents the effective interest rate including the amortization of initial issuance discounts and deferred financing costs.
(2)Interest on unsecured senior notes is payable semi-annually.
(3)Includes unamortized discounts of $11.0 million and $8.4 million and unamortized deferred financing costs of $16.9 million and $15.8 million as of December 31, 2025 and December 31, 2024, respectively.
v3.25.4
Deferred Revenue and Acquisition-Related Intangible Liabilities, net (Tables)
12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Deferred Revenue and Acquisition-Related Liabilities
Deferred revenue and acquisition-related intangible liabilities, net consisted of the following:
December 31, 2025December 31, 2024
(in thousands)
Deferred revenue related to tenant-funded tenant improvements, net
$70,813 $81,738 
Other deferred revenue, net (1)
28,136 33,281 
Acquisition-related intangible liabilities, net (2)
26,679 27,418 
Total$125,628 $142,437 
_____________________
(1)Represents cash received in advance of revenue recognition, net of accumulated amortization.
(2)See Note 5 “Deferred Leasing Costs and Acquisition-Related Intangible Assets and Liabilities, net” for additional information regarding our acquisition-related intangible liabilities.
Schedule of Estimated Amortization of Deferred Revenue Related to Tenant-Funded Improvements The following is the estimated amortization of deferred revenue related to tenant-funded tenant improvements as of December 31, 2025 for the next five years and thereafter:
Year Ending(in thousands)
2026$12,933 
202711,619 
202810,457 
20299,726 
20309,037 
Thereafter17,041 
Total$70,813 
v3.25.4
Stockholders' Equity of the Company (Tables)
12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Accrued Dividends and Distributions
The following tables summarize accrued dividends and distributions for the noted outstanding shares of common stock and noncontrolling units:
December 31, 2025December 31, 2024
(in thousands)
Dividends and Distributions payable to:
Common stockholders$63,921 $63,745 
Noncontrolling common unitholders of the Operating Partnership612 621 
RSU holders (1)
476 484 
Total accrued dividends and distribution to common stockholders and noncontrolling unitholders$65,009 $64,850 
_____________________
(1)The amount includes the value of the dividend equivalents that will be paid with additional RSUs (See Note 14 “Share-Based and Other Compensation” for additional information).
Schedule of Outstanding Shares of Common Stock, Preferred Stock and Noncontrolling Units
 December 31, 2025December 31, 2024
Outstanding Shares and Units:
Common stock118,372,451 118,046,674 
Noncontrolling common units1,133,562 1,150,574 
RSUs (1)
846,072 861,385 
_____________________
(1)The amount includes nonvested RSUs. Does not include 1,394,111 and 926,695 performance-based RSUs because not all the necessary performance conditions have been met as of December 31, 2025 and 2024, respectively. Refer to Note 14 “Share-Based and Other Compensation” for additional information.
v3.25.4
Partners' Capital of the Operating Partnership (Tables)
12 Months Ended
Dec. 31, 2025
Class of Stock [Line Items]  
Schedule of Accrued Dividends and Distributions
The following tables summarize accrued dividends and distributions for the noted outstanding shares of common stock and noncontrolling units:
December 31, 2025December 31, 2024
(in thousands)
Dividends and Distributions payable to:
Common stockholders$63,921 $63,745 
Noncontrolling common unitholders of the Operating Partnership612 621 
RSU holders (1)
476 484 
Total accrued dividends and distribution to common stockholders and noncontrolling unitholders$65,009 $64,850 
_____________________
(1)The amount includes the value of the dividend equivalents that will be paid with additional RSUs (See Note 14 “Share-Based and Other Compensation” for additional information).
Schedule of Outstanding Shares of Common Stock, Preferred Stock and Noncontrolling Units
 December 31, 2025December 31, 2024
Outstanding Shares and Units:
Common stock118,372,451 118,046,674 
Noncontrolling common units1,133,562 1,150,574 
RSUs (1)
846,072 861,385 
_____________________
(1)The amount includes nonvested RSUs. Does not include 1,394,111 and 926,695 performance-based RSUs because not all the necessary performance conditions have been met as of December 31, 2025 and 2024, respectively. Refer to Note 14 “Share-Based and Other Compensation” for additional information.
Kilroy Realty L.P.  
Class of Stock [Line Items]  
Schedule of Redeemable Noncontrolling Interest
The following table sets forth the number of common units held by the Company as the general partner and the number of common units held by non-affiliated investors in the form of common limited partner units as well as the ownership interest held on each respective date:
December 31, 2025December 31, 2024
Company owned common units in the Operating Partnership118,372,451 118,046,674 
Company owned general partnership interest99.1 %99.0 %
Non-affiliated investors and other common units of the Operating Partnership1,133,562 1,150,574 
Ownership interest of limited partnership interests0.9 %1.0 %
Schedule of Accrued Dividends and Distributions
The following tables summarize accrued distributions for the noted common units:
December 31, 2025December 31, 2024
 (in thousands)
Distributions payable to:
General partner$63,921 $63,745 
Common limited partners612 621 
RSU holders (1)
476 484 
Total accrued distributions to common unitholders$65,009 $64,850 
_____________________
(1)The amount includes the value of the dividend equivalents that will be paid with additional RSUs (See Note 14 “Share-Based and Other Compensation” for additional information).
Schedule of Outstanding Shares of Common Stock, Preferred Stock and Noncontrolling Units
December 31, 2025December 31, 2024
Outstanding Units:
Common units held by the general partner118,372,451 118,046,674 
Common units held by the limited partners1,133,562 1,150,574 
RSUs (1)
846,072 861,385 
_____________________
(1)Does not include 1,394,111 and 926,695 performance-based RSUs because not all the necessary performance conditions have been met as of December 31, 2025 and 2024, respectively. Refer to Note 14 “Share-Based and Other Compensation” for additional information.
v3.25.4
Share-Based and Other Compensation (Tables)
12 Months Ended
Dec. 31, 2025
2022, 2021 and 2020 Performance-Based RSUs  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Restricted Stock Units Valuation Assumptions The following table summarizes the estimated number of RSUs earned for the 2025 and 2024 Performance-
Based RSUs and the actual number of RSUs earned for the 2023 Performance-Based RSUs and the assumptions utilized in the Monte Carlo simulation pricing models:
2025
2024
2023
Service vesting periodFebruary 14, 2025 - January, 2028February 1, 2024 - January, 2027February 6, 2023 - January, 2026
Performance measurement period
January 1, 2025 - December 31, 2027
January 1, 2024 - December 31, 2026
January 1, 2023 - December 31, 2025
Target RSUs granted308,671265,205300,007
Estimated RSUs earned net of forfeitures (1)
472,942474,214729,890
Fair Value Assumptions:
Valuation dateFebruary 14, 2025February 1, 2024February 6, 2023
Fair value on valuation date (in millions)$11.3$9.5$12.0
Weighted average fair value per share
$36.49$35.66$39.95
Expected share price volatility38.0 %34.0 %35.0 %
Risk-free interest rate4.35 %3.98 %4.12 %
_____________________
(1)Estimated RSUs earned for the 2025 and 2024 Performance-Based RSUs are based on the actual achievement of the applicable FFO Performance Condition and estimated achievement of the Net Debt to EBITDA Ratio Performance Condition and the TSR Condition. The 2023 Performance-Based RSUs earned are based on actual achievement of the FFO Performance Condition, the Net Debt to EBITDA Ratio Performance Condition, and the TSR Condition upon completion of the performance measurement period at December 31, 2025.
Market measure-based Restricted Stock Units (RSUs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Restricted Stock Units Award Activity
A summary of our Performance-Based RSUs activity from January 1, 2025 through December 31, 2025 is presented below:
Nonvested RSUsVested RSUsTotal RSUs
Amount
Weighted-Average
Grant-Date
Fair Value
Per Share
Outstanding at January 1, 2025 (1)
926,695 $42.26 81,274 1,007,969 
Granted308,671 36.49 — 308,671 
Performance award achievement adjustment (2)
294,387 36.51 — 294,387 
Vested(183,474)62.93 183,474 — 
Settled
— — (137,016)(137,016)
Issuance of dividend equivalents (3)
91,948 35.87 7,352 99,300 
Forfeited
(44,116)37.24 — (44,116)
Outstanding as of December 31, 2025 (4)
1,394,111 $37.11 135,084 1,529,195 
____________________
(1)Effective 2025, management updated the presentation of the opening balance to reflect the performance adjustment related to Net Debt to EBITDA Ratio Performance Condition and the TSR Condition.
(2)Represents performance adjustments above target based on the actual achievement for 2023 awards and estimated achievement for 2024 and 2025 awards.
(3)Represents the issuance of dividend equivalents earned on the underlying RSUs. The dividend equivalents vest based on terms specified under the related RSU award agreements.
(4)Outstanding nonvested RSUs as of December 31, 2025 represent the actual achievement of the 2023 Performance-Based RSUs and the estimated achievement of 2024 and 2025 Performance-Based RSUs as of December 31, 2025. Dividend equivalents earned will vest along with the underlying award and are also subject to changes based on the number of RSUs ultimately earned for each underlying award.

A summary of our Performance-Based RSUs activity for the years ended December 31, 2025, 2024, and 2023 is presented below:
RSUs GrantedRSUs Vested
Years ended December 31,
Non-Vested
RSUs Granted
Weighted-Average
Fair Value
Per Share
Vested RSUsTotal Vest-Date
Fair Value
(in thousands)
2025
308,671 $36.49 190,826 $7,016 
2024
265,205 $35.66 1,089,879 $38,364 
2023
300,007 $39.95 290,570 $11,105 
Time-Based Restricted Stock Units (RSUs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Restricted Stock Units Award Activity
A summary of our Time-Based RSUs activity from January 1, 2025 through December 31, 2025 is presented below:
Nonvested RSUsVested RSUsTotal RSUs
Amount
Weighted Average
Grant-Date Fair Value Per Share
Outstanding at January 1, 2025
537,426 $36.37 242,685 780,111 
Granted258,356 34.66 — 258,356 
Vested(313,893)40.85 313,893 — 
Settled
(347,900)(347,900)
Issuance of dividend equivalents (1)
27,154 35.87 18,668 45,822 
Forfeited(25,401)35.81 — (25,401)
Outstanding as of December 31, 2025
483,642 $35.37 227,346 710,988 
____________________
(1)Represents the issuance of dividend equivalents earned on the underlying RSUs. The dividend equivalents vest based on terms specified under the related RSU award agreements.

A summary of our Time-Based RSUs activity for the years ended December 31, 2025, 2024, and 2023 is presented below:
RSUs GrantedRSUs Vested
Year ended December 31,Non-Vested
RSUs Issued
Weighted-Average Grant Date Fair Value Per Share
Vested RSUs
Total Vest-Date
Fair Value (1)
(in thousands)
2025258,356 $34.66 332,561 $12,236 
2024385,718 $36.12 281,168 $10,878 
2023247,017 $38.12 343,334 $12,425 
____________________
(1)    Total fair value of RSUs vested was calculated based on the quoted closing share price of the Company’s common stock on the NYSE on the day of vesting. Excludes the issuance of dividend equivalents earned on the underlying RSUs. The dividend equivalents vest based on terms specified under the related RSU award agreement.
v3.25.4
Rental Income and Future Minimum Rent (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Rental Income
The table below sets forth the allocation of rental income between fixed and variable lease payments and net collectability considerations:
Year Ended December 31,
202520242023
(in thousands)
Fixed lease payments$900,285 $923,029 $944,618 
Variable lease payments194,374 197,502 184,672 
Impact from tenant creditworthiness considerations (1)
(1,072)(2,416)(11,553)
Total rental income$1,093,587 $1,118,115 $1,117,737 
____________________
(1)Represents reversal/reserve adjustments to rental income related to our assessment of the collectability of amounts due under leases with our tenants, including recognition of deferred rent balances associated with tenants moved to / restored from a cash basis of revenue recognition and allowances for uncollectible receivables.
Schedule of Future Contractual Minimum Rent Under Operating Lease Future contractual minimum rent under operating leases, which includes amounts contractually due from leases that are on a cash basis of reporting due to creditworthiness considerations, as of December 31, 2025 for future periods is summarized as follows:
Year Ending(in thousands)
2026$769,406 
2027769,403 
2028742,321 
2029666,034 
2030583,844 
Thereafter1,591,508 
Total (1)
$5,122,516 
____________________
(1)Excludes residential leases, leases at properties classified as held for sale, and leases with an initial term of one year or less.
v3.25.4
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Contractual Expiration Dates for Ground Leases
The following table summarizes our properties that are held subject to long-term non-cancellable ground lease obligations as of December 31, 2025 and the respective contractual expiration dates:
Property (1)
Contractual Expiration Date
701, 801, and 837 N. 34th Street, Seattle, WA (2)
December 2041
1701 Page Mill Road and 3150 Porter Drive, Palo Alto, CADecember 2067
Kilroy Airport Center Phases I, II, and III, Long Beach, CA (3)
July 2084
3243 S. La Cienega Boulevard, Los Angeles, CAOctober 2106
200 W. 6th Street, Austin, TXDecember 2112
____________________
(1)    Excludes one month-to-month ground lease.
(2) The Company has three 10-year and one 45-year extension options for this ground lease, which if exercised would extend the expiration date to December 2116. These extension options are not assumed to be exercised in our calculation of the present value of the future minimum lease payments for this lease. The Company also has a purchase option for this ground lease.
(3)    Assumes the impact of all extension options held by the Company.
Schedule of Minimum Commitment Under Ground Leases
The minimum commitment under our ground leases as of December 31, 2025 for future periods is as follows:

Year Ending
(in thousands)
2026$6,809 
20276,850 
20286,869 
20296,869 
20306,869 
Thereafter360,875 
Total undiscounted cash flows (1) (2) (3) (4) (5) (6)
$395,141 
Present value discount(267,513)
Ground lease liabilities$127,628 
________________________
(1)Excludes contingent future rent payments based on gross income or adjusted gross income and reflects the minimum obligations under the ground leases including any extension options (but excluding the Seattle ground lease extension options).
(2)    Our 701, 801, and 837 N. 34th Street ground lease obligation is subject to a fair market value adjustment every five years based on CPI adjustments and every 15 years based on third-party appraisals. The contractual obligations for that ground lease included above assume the current annual ground lease obligation in effect at December 31, 2025 for the remainder of the lease term, as we cannot predict future adjustments.
(3)    Our 1701 Page Mill Road and 3150 Porter Drive ground lease obligation includes a component that is based on the percentage of adjusted gross income that exceeds the minimum ground rent. The minimum rent is subject to increases every 10 years by an amount equal to 60% of the average annual percentage rent for the previous three years. The contractual obligations for this lease included above assume the current annual ground lease obligation in effect at December 31, 2025 for the remainder of the lease term, as we cannot predict future adjustments.
(4)    Our Kilroy Airport Center Phases I, II, and III ground lease obligation is subject to a fair market value adjustment every five years based on a combination of CPI adjustments and third-party appraisals with predetermined maximum annual increases. The contractual obligations for that ground lease included above assume the contractual minimum annual rent prior to the consideration of any variable rental payments in effect at December 31, 2025 for the remainder of the lease term, as we cannot predict future adjustments.
(5)    Our 3243 S. La Cienega Boulevard ground lease obligation is subject to fixed 5% ground rent increases every five years, with the next increase occurring on November 1, 2027.
(6)    Our 200 W. 6th Street ground lease obligation is subject to fixed 2% annual ground rent increases, with resets occurring every ten years based on CPI. The contractual obligations for that ground lease included above assume increases for the remaining current ten-year period based on the contractual minimum annual rent prior to the consideration of any variable rental payments (1.5% of gross income) in effect at December 31, 2025.
Schedule of Environmental Loss Contingencies by Site
We had the following accrued environmental remediation liabilities in connection with certain of our in-process and future development projects:
December 31, 2025December 31, 2024
(in thousands)
Environmental liabilities
$70,030 $72,003 
v3.25.4
Fair Value Measurements and Disclosures (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of the Company's Deferred Compensation Plan Assets The following table sets forth the fair value of our Deferred Compensation Plan:
Fair Value (Level 1) (1)
December 31, 2025December 31, 2024
Description(in thousands)
Deferred Compensation Plan assets (2)
$30,807 $27,965 
____________________
(1)Based on quoted prices in active markets for identical securities.
(2)The Deferred Compensation Plan assets are held in a limited rabbi trust.
Schedule of Carrying Value and Fair Value of Other Financial Instruments
The following table sets forth the carrying value and the fair value of our other financial instruments: 

December 31, 2025December 31, 2024
Carrying Value
Fair Value
Carrying Value
Fair Value
(in thousands)
Liabilities
Secured debt, net$592,685 $587,244 $598,199 $569,061 
Unsecured debt, net$3,996,774 $3,834,485 $3,999,566 $3,681,914 

Fair value is calculated using Level 2 inputs, which are based on model-derived valuations in which significant inputs and significant value drivers are observable in active markets.
v3.25.4
Net Income Available to Common Stockholders Per Share of the Company (Tables)
12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Net income Available to Common Stockholders
The following table reconciles the numerator and denominator in computing the Company’s basic and diluted per-share computations for net income available to common stockholders:
Year Ended December 31,
202520242023
(in thousands, except share and per share amounts)
Numerator:
Net income available to common stockholders$276,121 $210,969 $212,241 
Allocation to participating securities (1)
(925)(1,967)(1,233)
Numerator for basic and diluted net income available to common stockholders$275,196 $209,002 $211,008 
Denominator: 
Basic weighted average vested shares outstanding118,278,990 117,649,111 117,160,173 
Effect of dilutive securities 553,045 507,876 346,082 
Diluted weighted average vested shares and common stock equivalents outstanding118,832,035 118,156,987 117,506,255 
Basic earnings per share: 
Net income available to common stockholders per share$2.33 $1.78 $1.80 
Diluted earnings per share: 
Net income available to common stockholders per share$2.32 $1.77 $1.80 
_____________________ 
(1)Participating securities include certain time-based RSUs and vested market measure-based RSUs.
v3.25.4
Net Income Available to Common Unitholders Per Unit of the Operating Partnership (Tables)
12 Months Ended
Dec. 31, 2025
Net Income Available To Common Unitholders [Line Items]  
Schedule of Net income Available to Common Unitholders
The following table reconciles the numerator and denominator in computing the Company’s basic and diluted per-share computations for net income available to common stockholders:
Year Ended December 31,
202520242023
(in thousands, except share and per share amounts)
Numerator:
Net income available to common stockholders$276,121 $210,969 $212,241 
Allocation to participating securities (1)
(925)(1,967)(1,233)
Numerator for basic and diluted net income available to common stockholders$275,196 $209,002 $211,008 
Denominator: 
Basic weighted average vested shares outstanding118,278,990 117,649,111 117,160,173 
Effect of dilutive securities 553,045 507,876 346,082 
Diluted weighted average vested shares and common stock equivalents outstanding118,832,035 118,156,987 117,506,255 
Basic earnings per share: 
Net income available to common stockholders per share$2.33 $1.78 $1.80 
Diluted earnings per share: 
Net income available to common stockholders per share$2.32 $1.77 $1.80 
_____________________ 
(1)Participating securities include certain time-based RSUs and vested market measure-based RSUs.
Kilroy Realty L.P.  
Net Income Available To Common Unitholders [Line Items]  
Schedule of Net income Available to Common Unitholders
The following table reconciles the numerator and denominator in computing the Operating Partnership’s basic and diluted per-unit computations for net income available to common unitholders:
Year Ended December 31,
202520242023
(in thousands, except unit and per unit amounts)
Numerator:
Net income available to common unitholders$278,803 $213,031 $214,324 
Allocation to participating securities (1)
(925)(1,967)(1,233)
Numerator for basic and diluted net income available to common unitholders$277,878 $211,064 $213,091 
Denominator: 
Basic weighted average vested units outstanding119,428,865 118,799,685 118,310,747 
Effect of dilutive securities553,045 507,876 346,082 
Diluted weighted average vested units and common unit equivalents outstanding119,981,910 119,307,561 118,656,829 
Basic earnings per unit:
Net income available to common unitholders per unit$2.33 $1.78 $1.80 
Diluted earnings per unit: 
Net income available to common unitholders per unit$2.32 $1.77 $1.80 
____________________ 
(1)Participating securities include certain time-based RSUs and vested market measure-based RSUs.
v3.25.4
Supplemental Cash Flows Information of the Company and the Operating Partnership (Tables)
12 Months Ended
Dec. 31, 2025
Supplemental Cash Flow Elements [Abstract]  
Schedule of Supplemental Cash Flows
Supplemental cash flows information of the Company is as follows:
Year Ended December 31,
202520242023
(in thousands)
SUPPLEMENTAL CASH FLOWS INFORMATION:
Cash paid for interest, net of capitalized interest of $79,542, $77,871, and $74,052 as of
   December 31, 2025, 2024, and 2023, respectively
$115,912 $126,668 $105,767 
Cash paid for amounts included in the measurement of ground lease liabilities$7,578 $6,484 $6,733 
NON-CASH INVESTING TRANSACTIONS:
Accrual for expenditures for operating properties and development and redevelopment properties$62,570 $54,190 $95,575 
Tenant improvements funded directly by tenants$3,026 $2,745 $7,364 
Remeasurement of ground lease liability and related right of use ground lease asset$— $4,782 $— 
NON-CASH FINANCING TRANSACTIONS:
Accrual of dividends and distributions payable to common stockholders and common
    unitholders (Note 12)
$65,009 $64,850 $64,440 

Supplemental cash flows information of the Operating Partnership is as follows:
 
Year Ended December 31,  
 202520242023
(in thousands)
SUPPLEMENTAL CASH FLOWS INFORMATION:
Cash paid for interest, net of capitalized interest of $79,542, $77,871, and $74,052 as of
December 31, 2025, 2024, and 2023, respectively
$115,912 $126,668 $105,767 
Cash paid for amounts included in the measurement of ground lease liabilities$7,578 $6,484 $6,733 
NON-CASH INVESTING TRANSACTIONS:
Accrual for expenditures for operating properties and development and redevelopment properties$62,570 $54,190 $95,575 
Tenant improvements funded directly by tenants$3,026 $2,745 $7,364 
Remeasurement of ground lease liability and related right of use ground lease asset$— $4,782 $— 
NON-CASH FINANCING TRANSACTIONS:
Accrual of distributions payable to common unitholders (Note 13)
$65,009 $64,850 $64,440 
v3.25.4
Tax Treatment of Distributions (Tables)
12 Months Ended
Dec. 31, 2025
Class of Stock [Line Items]  
Schedule of Reconciliation of Dividends Declared to Dividends Paid
The following table reconciles the dividends declared per share of common stock to the dividends paid per share of common stock as follows: 

Year Ended December 31,
Dividends202520242023
Dividends declared per share of common stock$2.16 $2.16 $2.16 
Less: Dividends declared in the current year and paid in the following year(0.54)(0.54)(0.54)
Add: Dividends declared in the prior year and paid in the current year0.54 0.54 0.54 
Dividends paid per share of common stock$2.16 $2.16 $2.16 
Common Stock  
Class of Stock [Line Items]  
Schedule of Reconciliation of Dividends Declared to Dividends Paid
The unaudited income tax treatment for the dividends to common stockholders reportable as identified in the table above was as follows: 

Year Ended December 31,
Shares of Common Stock202520242023
Ordinary dividend (1) (2)
$1.43 66.34 %$1.92 88.75 %$2.09 96.67 %
Return of capital0.25 11.62 %0.24 11.02 %0.07 3.21 %
Capital gains
0.04 1.76 %0.01 0.23 %— 0.12 %
Unrecaptured section 1250 gains0.44 20.28 %— — %— — %
$2.16 100.00 %$2.16 100.00 %$2.16 100.00 %
____________________
(1)Total qualified dividend, which is a subset of, and is included in, the Ordinary dividend amount.
(2)The Tax Cuts and Jobs Act enacted on December 22, 2017 generally allows a deduction for noncorporate taxpayers equal to 20% of ordinary dividends distributed by a REIT (excluding capital gain dividends and qualified dividend income). The amount of dividend eligible for this deduction is referred to as the Section 199A Dividend. For the year ended December 31, 2025, the Section 199A Dividend is equal to the total ordinary income dividend.
v3.25.4
Segments (Tables)
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information
The following table presents Net Income:
Year Ended December 31,
202520242023
(in thousands)
REVENUES:
Rental income$1,093,587 $1,118,115 $1,117,737 
Other property income19,080 17,514 11,957 
Total revenues1,112,667 1,135,629 1,129,694 
EXPENSES:
Property expenses 243,726 243,441 228,964 
Real estate taxes 107,564 108,951 105,868 
Ground leases12,048 11,715 9,732 
General and administrative expenses73,108 71,074 94,264 
Leasing costs 10,352 8,764 6,506 
Depreciation and amortization354,854 356,182 355,278 
Total expenses801,652 800,127 800,612 
OTHER INCOME (EXPENSES):
Interest income
6,970 37,752 22,592 
Interest expense(126,292)(145,287)(114,216)
Other income (expense)
168 (992)830 
Gains on sales of depreciable operating properties127,038 — — 
Impairment of real estate assets
(16,259)— — 
Gain on sale of long-lived assets
— 5,979 — 
Total other expenses
(8,375)(102,548)(90,794)
NET INCOME$302,640 $232,954 $238,288 
v3.25.4
Organization and Ownership - Operating Properties (Details)
12 Months Ended
Dec. 31, 2025
ft²
building
property
tenant
development_project
propertyHeldForSale
Real Estate Properties [Line Items]  
Rentable Square Feet (unaudited) 16,292,164
Disposal group, disposed of by sale | San Diego  
Real Estate Properties [Line Items]  
Number of Properties | propertyHeldForSale 1
Stabilized Office Properties  
Real Estate Properties [Line Items]  
Number of Buildings | building 121
Rentable Square Feet (unaudited) 16,292,164
Number of Tenants | tenant 438
Percentage Occupied (unaudited) 81.60%
Stabilized Residential Properties  
Real Estate Properties [Line Items]  
Number of Properties | property 3
Number of Units | property 1,001
2025 Average Occupancy (unaudited) 94.10%
In-process development project - tenant improvement  
Real Estate Properties [Line Items]  
Rentable Square Feet (unaudited) 871,738
Number of Properties | development_project 1
v3.25.4
Organization and Ownership - Narrative (Details)
12 Months Ended
Dec. 31, 2025
property
development_site
Dec. 31, 2024
Operating Partnership    
Real Estate Properties [Line Items]    
Ownership interest (percent) 99.10% 99.00%
Operating Partnership | Non-Affiliated Investors and Certain Executive Officer and Directors    
Real Estate Properties [Line Items]    
Ownership interest (percent) 0.90% 1.00%
Future Development Site    
Real Estate Properties [Line Items]    
Number of future development sites | development_site 8  
Stabilized Office Properties | Washington    
Real Estate Properties [Line Items]    
Number of buildings | property 10  
Stabilized Office Properties | Texas    
Real Estate Properties [Line Items]    
Number of buildings | property 1  
Future development project | Washington    
Real Estate Properties [Line Items]    
Number of buildings | development_site 1  
Future development project | Texas    
Real Estate Properties [Line Items]    
Number of buildings | development_site 1  
Office Properties Owned by Consolidated Property Partnerships    
Real Estate Properties [Line Items]    
Number of buildings | property 4  
v3.25.4
Organization and Ownership - Consolidated Property Partnership Ownership Percentage (Details)
Dec. 31, 2025
property
Consolidated property partnerships  
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
Number of property partnerships 3
100 First Street Member, LLC  
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
Ownership Interest 56.00%
303 Second Street Member, LLC  
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
Ownership Interest 56.00%
Redwood City Partners, LLC  
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
Ownership Interest 93.00%
v3.25.4
Basis of Presentation and Significant Accounting Policies - Narrative (Details)
12 Months Ended
Dec. 31, 2025
USD ($)
property
development_site
investment
Dec. 31, 2025
USD ($)
property
development_site
investment
Dec. 31, 2025
USD ($)
property
development_site
investment
Dec. 31, 2025
USD ($)
property
reportableSegment
development_site
investment
Dec. 31, 2025
USD ($)
property
operatingSegment
development_site
investment
Dec. 31, 2024
USD ($)
property
investment
Dec. 31, 2023
USD ($)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]              
Number of equity method investments | investment 0 0 0 0 0 0  
Lease-up properties occupancy percentage   95.00%          
Lease-up properties occupancy duration 1 year            
Conversion ratio   1          
Unrecognized tax benefits | $ $ 0 $ 0 $ 0 $ 0 $ 0 $ 0  
Number of operating segments       1 1    
Minimum | Lease Agreements              
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]              
Finite-lived intangible asset, useful life 1 year 1 year 1 year 1 year 1 year    
Maximum | Lease Agreements              
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]              
Finite-lived intangible asset, useful life 20 years 20 years 20 years 20 years 20 years    
Disposal group, disposed of by sale              
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]              
Restricted cash | $ $ 0 $ 0 $ 0 $ 0 $ 0 0  
Building and building improvements              
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]              
Depreciation of real estate | $     $ 305,800,000     $ 308,000,000.0 $ 300,100,000
Consolidated property partnerships              
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]              
Number of property partnerships 3 3 3 3 3    
Stabilized Office Properties | Washington              
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]              
Number of buildings 10 10 10 10 10    
Stabilized Office Properties | Texas              
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]              
Number of buildings 1 1 1 1 1    
Future development project | Washington              
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]              
Number of buildings | development_site 1 1 1 1 1    
Future development project | Texas              
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]              
Number of buildings | development_site 1 1 1 1 1    
Variable Interest Entity, Primary Beneficiary              
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]              
Number of VIEs 2 2 2 2 2 3  
v3.25.4
Basis of Presentation and Significant Accounting Policies - Schedule of Total Assets, Liabilities, and Noncontrolling Interest (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
property
Dec. 31, 2024
USD ($)
property
Variable Interest Entity [Line Items]    
Total assets $ 10,915,076 $ 10,898,357
Total liabilities $ 5,277,333 $ 5,289,488
Variable Interest Entity, Primary Beneficiary    
Variable Interest Entity [Line Items]    
Number of VIEs | property 2 3
Total assets $ 380,940 $ 435,478
Total liabilities 18,304 18,047
Variable Interest Entity, Primary Beneficiary | Real estate investment    
Variable Interest Entity [Line Items]    
Total assets 319,400 357,300
Variable Interest Entity, Primary Beneficiary | 100 First LLC and 303 Second LLC    
Variable Interest Entity [Line Items]    
Noncontrolling Interest in Variable Interest Entity $ 160,299 $ 169,445
v3.25.4
Basis of Presentation and Significant Accounting Policies - Schedule of Buildings, Improvements, and Tenant Improvements Depreciation (Details)
Dec. 31, 2025
Minimum | Building and building improvements  
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
Property, plant and equipment, useful life 25 years
Minimum | Tenant Improvements  
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
Property, plant and equipment, useful life 1 year
Minimum | Leasehold improvements  
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
Property, plant and equipment, useful life 1 year
Maximum | Building and building improvements  
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
Property, plant and equipment, useful life 40 years
Maximum | Tenant Improvements  
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
Property, plant and equipment, useful life 20 years
Maximum | Leasehold improvements  
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
Property, plant and equipment, useful life 5 years
v3.25.4
Acquisitions - Operating Property Acquisitions (Details)
$ in Millions
1 Months Ended 12 Months Ended
Dec. 31, 2025
USD ($)
ft²
property
Sep. 30, 2025
USD ($)
ft²
property
Sep. 30, 2024
USD ($)
ft²
property
Dec. 31, 2025
USD ($)
ft²
property
Dec. 31, 2024
USD ($)
ft²
property
Schedule of Asset Acquisitions, by Acquisition [Line Items]          
Rentable square feet (unaudited) 16,292,164     16,292,164  
2025 Acquisitions          
Schedule of Asset Acquisitions, by Acquisition [Line Items]          
Number of Buildings | property       5  
Rentable square feet (unaudited) 538,532     538,532  
Purchase price | $       $ 397.3  
3530 & 3550 John Hopkins Court and 3535 & 3565 General Atomics Court (Nautilus)          
Schedule of Asset Acquisitions, by Acquisition [Line Items]          
Number of Buildings | property 4        
Rentable square feet (unaudited) 232,166     232,166  
Purchase price | $ $ 192.0        
335-345 N. Maple Drive (Maple Plaza)          
Schedule of Asset Acquisitions, by Acquisition [Line Items]          
Number of Buildings | property   1      
Rentable square feet (unaudited)   306,366      
Purchase price | $   $ 205.3      
2024 Acquisitions          
Schedule of Asset Acquisitions, by Acquisition [Line Items]          
Number of Buildings | property         2
Rentable square feet (unaudited)         103,731
Purchase price | $         $ 35.0
12707 & 12777 High Bluff Drive (Junction at Del Mar)          
Schedule of Asset Acquisitions, by Acquisition [Line Items]          
Number of Buildings | property     2    
Rentable square feet (unaudited)     103,731    
Purchase price | $     $ 35.0    
v3.25.4
Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Assets    
Land $ 50,382 $ 6,000
Buildings and improvements 287,563 15,703
Deferred leasing costs and acquisition-related intangible assets 61,454 13,534
Prepaid expenses and other assets, net 0 30
Total assets acquired 399,399 35,267
Liabilities    
Acquisition-related intangible liabilities 2,981 267
Total liabilities assumed 2,981 267
Net assets and liabilities acquired 396,418 35,000
Deferred leasing costs and acquisition-related intangible assets 61,454 13,534
Below-market leases acquired $ 3,000 $ 300
Weighted average amortization of below market leases (in years) 3 years 3 months 18 days 4 years 10 months 24 days
In-Place Leases    
Assets    
Deferred leasing costs and acquisition-related intangible assets $ 46,600 $ 10,500
Liabilities    
Deferred leasing costs and acquisition-related intangible assets $ 46,600 $ 10,500
Weighted average amortization period (in years) 4 years 4 months 24 days 4 years 8 months 12 days
Above Market Leases    
Assets    
Deferred leasing costs and acquisition-related intangible assets $ 7,000 $ 1,000
Liabilities    
Deferred leasing costs and acquisition-related intangible assets $ 7,000 $ 1,000
Weighted average amortization period (in years) 4 years 8 months 12 days 4 years 7 months 6 days
Leasing Commissions    
Assets    
Deferred leasing costs and acquisition-related intangible assets $ 7,900 $ 2,000
Liabilities    
Deferred leasing costs and acquisition-related intangible assets $ 7,900 $ 2,000
Weighted average amortization period (in years) 4 years 8 months 12 days 4 years 10 months 24 days
v3.25.4
Acquisitions - Narrative (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]    
Acquisition costs, capitalized $ 0.8 $ 0.2
Net of credits, and excluding acquisition-related costs $ 0.8  
v3.25.4
Dispositions and Real Estate Held For Sale - Operating Property Dispositions (Details)
$ in Thousands
1 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2025
USD ($)
ft²
building
Sep. 30, 2025
USD ($)
ft²
building
Jun. 30, 2025
USD ($)
ft²
building
Dec. 31, 2025
USD ($)
ft²
building
Dec. 31, 2025
USD ($)
ft²
building
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Rentable square feet | ft² 16,292,164     16,292,164 16,292,164    
Gains on sales of depreciable operating properties         $ 127,038 $ 0 $ 0
Asset impairment charges       $ (16,300)      
Disposal group, disposed of by sale | Total 2025 Dispositions              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Number of buildings | building 6     6 6    
Rentable square feet | ft² 1,067,741     1,067,741 1,067,741    
Sales price         $ 466,000    
Disposal group, disposed of by sale | 501 Santa Monica Boulevard              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Number of buildings | building     1        
Rentable square feet | ft²     78,509        
Sales price     $ 40,000        
Disposal group, disposed of by sale | Silicon Valley Campus              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Number of buildings | building   4          
Rentable square feet | ft²   663,460          
Sales price   $ 365,000          
Disposal group, disposed of by sale | 6255 W. Sunset Boulevard, Los Angeles, CA (Sunset Media Center)              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Number of buildings | building 1     1 1    
Rentable square feet | ft² 325,772     325,772 325,772    
Sales price $ 61,000            
v3.25.4
Dispositions and Real Estate Held For Sale - Narrative (Details)
$ in Millions
Jan. 23, 2026
USD ($)
Dec. 31, 2025
ft²
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Rentable square feet (unaudited) | ft²   16,292,164
Disposal group, disposed of by sale | San Diego | Subsequent event    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Dispositions sales price | $ $ 124.5  
Estimated gain on sale | $ $ 8.2  
Disposal group, held-for-sale | San Diego    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Rentable square feet (unaudited) | ft²   427,764
v3.25.4
Dispositions and Real Estate Held for Sale - Schedule of Long-Lived Asset Held for Sale (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Real estate and other assets held for sale, net    
Deferred leasing costs and acquisition-related intangible assets, net $ 278,232 $ 225,937
Liabilities related to real estate assets held for sale    
Deferred revenue and acquisition-related intangible liabilities, net 125,628 142,437
Rents received in advance and tenant security deposits 75,701 $ 71,003
Disposal group, held-for-sale | San Diego    
Real estate and other assets held for sale, net    
Land 23,158  
Buildings and improvements 198,535  
Total real estate assets held for sale 221,693  
Accumulated depreciation and amortization (116,693)  
Total real estate assets held for sale, net 105,000  
Current receivables, net 598  
Deferred rent receivables, net 5,433  
Deferred leasing costs and acquisition-related intangible assets, net 3,939  
Prepaid expenses and other assets, net 185  
Total real estate and other assets held for sale, net 115,155  
Liabilities related to real estate assets held for sale    
Disposal Group, Including Discontinued Operation, Accounts Payable and Accrued Liabilities 663  
Deferred revenue and acquisition-related intangible liabilities, net 1,882  
Rents received in advance and tenant security deposits 2,400  
Disposal Group, Including Discontinued Operation, Liabilities $ 4,945  
v3.25.4
Deferred Leasing Costs and Acquisition-Related Intangible Assets and Liabilities, net - Deferred Leasing Costs and Acquisition-related Intangible Assets and Intangible Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred Leasing Costs and Acquisition-related Intangible Assets, net:    
Total deferred leasing costs and acquisition-related intangible assets, net $ 278,232 $ 225,937
Acquisition-related Intangible Liabilities, net:    
Below-market operating leases 41,292 38,413
Accumulated amortization (14,613) (10,995)
Acquisition-related intangible liabilities, net 26,679 27,418
Total acquisition-related intangible liabilities, net 26,679 27,418
Deferred Leasing Costs    
Deferred Leasing Costs and Acquisition-related Intangible Assets, net:    
Finite-lived intangible assets, gross 310,936 303,541
Accumulated amortization (131,985) (136,171)
Finite-lived intangible assets, net 178,951 167,370
Above-market operating leases    
Deferred Leasing Costs and Acquisition-related Intangible Assets, net:    
Finite-lived intangible assets, gross 8,239 1,269
Accumulated amortization (779) (156)
Finite-lived intangible assets, net 7,460 1,113
In-Place Leases    
Deferred Leasing Costs and Acquisition-related Intangible Assets, net:    
Finite-lived intangible assets, gross 123,329 78,979
Accumulated amortization (31,508) (21,525)
Finite-lived intangible assets, net $ 91,821 $ 57,454
v3.25.4
Deferred Leasing Costs and Acquisition-Related Intangible Assets and Liabilities, net - Amortization of Deferred Leasing Costs and Acquisition-related Intangibles (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amortization for the period related to deferred leasing costs and acquisition-related intangibles      
Amortization for the period related to deferred leasing costs and acquisition-related intangibles $ 40,713 $ 38,067 $ 41,001
Estimated annual amortization related to acquisition-related intangible liabilities      
Below-market operating leases, 2026 (4,530)    
Below-market operating leases, 2027 (4,075)    
Below-market operating leases, 2028 (3,739)    
Below-market operating leases, 2029 (2,976)    
Below-market operating leases, 2030 (2,593)    
Below-market operating leases, thereafter (8,766)    
Below-market operating leases (26,679) (27,418)  
Deferred Leasing Costs      
Amortization for the period related to deferred leasing costs and acquisition-related intangibles      
Amortization for the period related to deferred leasing costs and acquisition-related intangibles 31,670 34,135 31,771
Estimated annual amortization related to acquisition-related intangible assets      
Finite-lived intangible assets, 2026 32,410    
Finite-lived intangible assets, 2027 28,802    
Finite-lived intangible assets, 2028 26,406    
Finite-lived intangible assets, 2029 22,950    
Finite-lived intangible assets, 2030 19,717    
Finite-lived intangible assets, thereafter 48,666    
Finite-lived intangible assets, net 178,951 167,370  
Above-market operating leases      
Amortization for the period related to deferred leasing costs and acquisition-related intangibles      
Amortization for the period related to deferred leasing costs and acquisition-related intangibles 645 86 31
Estimated annual amortization related to acquisition-related intangible assets      
Finite-lived intangible assets, 2026 1,809    
Finite-lived intangible assets, 2027 1,620    
Finite-lived intangible assets, 2028 1,520    
Finite-lived intangible assets, 2029 1,371    
Finite-lived intangible assets, 2030 893    
Finite-lived intangible assets, thereafter 247    
Finite-lived intangible assets, net 7,460 1,113  
In-Place Leases      
Amortization for the period related to deferred leasing costs and acquisition-related intangibles      
Amortization for the period related to deferred leasing costs and acquisition-related intangibles 12,122 7,453 15,878
Estimated annual amortization related to acquisition-related intangible assets      
Finite-lived intangible assets, 2026 21,138    
Finite-lived intangible assets, 2027 16,914    
Finite-lived intangible assets, 2028 14,792    
Finite-lived intangible assets, 2029 12,083    
Finite-lived intangible assets, 2030 8,487    
Finite-lived intangible assets, thereafter 18,407    
Finite-lived intangible assets, net 91,821 57,454  
Below-market operating leases      
Amortization for the period related to deferred leasing costs and acquisition-related intangibles      
Amortization of intangible liabilities $ (3,724) $ (3,607) $ (6,679)
v3.25.4
Prepaid Expenses and Other Assets, net - Schedule of Prepaid Expenses and Other Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Furniture, fixtures, and other long-lived assets, net $ 29,179 $ 26,316
Prepaid expenses, net 11,000 8,470
Deferred financing costs, net 9,150 12,692
Other assets 5,232 4,457
Total prepaid expenses and other assets, net 54,561 51,935
Depreciation and amortization of intangible assets $ 43,400 $ 40,200
v3.25.4
Secured and Unsecured Debt of the Company (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
debt_covenant
Dec. 31, 2024
USD ($)
Debt Instrument [Line Items]    
Total secured debt $ 592,685 $ 598,199
Number of debt covenants impacting payment of dividends during event of default | debt_covenant 1  
Unsecured debt    
Debt Instrument [Line Items]    
Long-term debt $ 4,000,000 $ 4,000,000
v3.25.4
Secured and Unsecured Debt of the Operating Partnership - Unsecured Senior Notes - Registered Offerings and Private Placement (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Total secured debt $ 592,685 $ 598,199
Unamortized deferred financing costs (9,150) (12,692)
Kilroy Realty L.P.    
Debt Instrument [Line Items]    
Long-term debt, gross 4,625,442  
Total secured debt 592,685 598,199
Long-term debt 4,589,459  
Secured debt | Kilroy Realty L.P.    
Debt Instrument [Line Items]    
Total secured debt 600,442 606,688
Unamortized deferred financing costs (7,757) (8,489)
Long-term debt 592,685 598,199
3.57% Mortgage Payable due December 2026 | Kilroy Realty L.P.    
Debt Instrument [Line Items]    
Long-term debt, gross $ 148,800  
3.57% Mortgage Payable due December 2026 | Secured debt | Kilroy Realty L.P.    
Debt Instrument [Line Items]    
Stated Coupon Rate 3.57%  
GAAP effective rate 3.80%  
Long-term debt, gross $ 148,815 152,668
4.48% Mortgage Payable due July 2027 | Secured debt | Kilroy Realty L.P.    
Debt Instrument [Line Items]    
Stated Coupon Rate 4.48%  
GAAP effective rate 4.57%  
Long-term debt, gross $ 76,627 79,020
5.90% Mortgage Payable due August 2034 | Kilroy Realty L.P.    
Debt Instrument [Line Items]    
Long-term debt, gross $ 375,000  
5.90% Mortgage Payable due August 2034 | Secured debt | Kilroy Realty L.P.    
Debt Instrument [Line Items]    
Stated Coupon Rate 5.90%  
GAAP effective rate 6.13%  
Long-term debt, gross $ 375,000 $ 375,000
v3.25.4
Secured and Unsecured Debt of the Operating Partnership - Secured Debt and Additional Information (Details)
1 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2025
Dec. 31, 2025
USD ($)
debt_covenant
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Aug. 31, 2025
USD ($)
Mar. 31, 2024
USD ($)
Jan. 31, 2024
USD ($)
Debt Instrument [Line Items]                  
Repayments of unsecured debt       $ 400,000,000 $ 723,712,000 $ 0      
Kilroy Realty L.P.                  
Debt Instrument [Line Items]                  
Long-term debt, gross       4,625,442,000          
Less: Unamortized Net Discounts and Deferred Financing costs       35,983,000          
Repayments of unsecured debt       $ 400,000,000 723,712,000 $ 0      
Number of noncompliant debt covenants that could require immediate repayment of full principal balance of associated debt | debt_covenant       1          
Secured debt | Kilroy Realty L.P.                  
Debt Instrument [Line Items]                  
Net book value of properties pledged as collateral for secured debt       $ 950,400,000          
Unsecured debt | Kilroy Realty L.P.                  
Debt Instrument [Line Items]                  
Long-term debt, gross       3,825,000,000 3,825,000,000        
Less: Unamortized Net Discounts and Deferred Financing costs       27,949,000 24,205,000        
Unsecured debt | Kilroy Realty L.P. | 6.250% Unsecured Senior Notes                  
Debt Instrument [Line Items]                  
Principal amount of debt                 $ 400,000,000
Long-term debt, gross       $ 400,000,000 400,000,000       400,000,000.0
Unamortized discount (premium), net                 $ 4,500,000
Stated Coupon Rate       6.25%         6.25%
Unsecured debt | Kilroy Realty L.P. | 3.450% Unsecured Senior Notes Due 2024                  
Debt Instrument [Line Items]                  
Principal amount of debt         425,000,000        
Long-term debt, gross         $ 403,700,000        
Stated Coupon Rate         3.45%        
Unsecured debt | Kilroy Realty L.P. | 3.450% Unsecured Senior Notes Due December 15, 2024                  
Debt Instrument [Line Items]                  
Principal amount of debt         $ 425,000,000        
Unsecured debt | Kilroy Realty L.P. | 5.875% Unsecured Senior Notes Due 2035                  
Debt Instrument [Line Items]                  
Long-term debt, gross       $ 400,000,000 0   $ 400,000,000    
Stated Coupon Rate       5.875%     5.875%    
Less: Unamortized Net Discounts and Deferred Financing costs             $ 4,000,000    
Unsecured debt | Kilroy Realty L.P. | 4.375% Unsecured Senior Notes Due 2036                  
Debt Instrument [Line Items]                  
Stated Coupon Rate 4.375%   4.375%            
Extinguishment of debt, amount $ 400,000,000                
Revolving credit facility | Kilroy Realty L.P.                  
Debt Instrument [Line Items]                  
Line of credit facility, maximum borrowing capacity       $ 1,100,000,000 $ 1,100,000,000        
Revolving credit facility | Kilroy Realty L.P. | $400.0 million term loan facility                  
Debt Instrument [Line Items]                  
Line of credit facility, maximum borrowing capacity               $ 1,100,000,000  
Term Loan Facility | Kilroy Realty L.P. | $400.0 million term loan facility                  
Debt Instrument [Line Items]                  
Line of credit facility, maximum borrowing capacity               $ 520,000,000  
Repayments of unsecured debt   $ 120,000,000   200,000,000          
Term Loan Facility | Kilroy Realty L.P. | Unsecured New Term Loan Facility                  
Debt Instrument [Line Items]                  
Principal amount of debt       $ 200,000,000          
Maturity period     12 months 12 months          
v3.25.4
Secured and Unsecured Debt of the Operating Partnership - Unsecured Senior Notes (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Aug. 31, 2025
Dec. 31, 2024
Jan. 31, 2024
Debt Instrument [Line Items]        
Total Unsecured Senior Notes, Net $ 3,996,774   $ 3,999,566  
Unamortized deferred financing costs (9,150)   (12,692)  
Kilroy Realty L.P.        
Debt Instrument [Line Items]        
Long-term debt, gross 4,625,442      
Less: Unamortized Net Discounts and Deferred Financing costs (35,983)      
Total Unsecured Senior Notes, Net 3,996,774   3,999,566  
Unsecured debt | Kilroy Realty L.P.        
Debt Instrument [Line Items]        
Long-term debt, gross 3,825,000   3,825,000  
Less: Unamortized Net Discounts and Deferred Financing costs (27,949)   (24,205)  
Total Unsecured Senior Notes, Net $ 3,797,051   3,800,795  
4.300% Unsecured Senior Notes | Unsecured debt | Kilroy Realty L.P.        
Debt Instrument [Line Items]        
Stated Coupon Rate 4.30%      
Effective Interest Rate 4.389%      
Long-term debt, gross $ 50,000   50,000  
4.350% Unsecured Senior Notes | Unsecured debt | Kilroy Realty L.P.        
Debt Instrument [Line Items]        
Stated Coupon Rate 4.35%      
Effective Interest Rate 4.437%      
Long-term debt, gross $ 200,000   200,000  
3.350% Unsecured Senior Notes | Unsecured debt | Kilroy Realty L.P.        
Debt Instrument [Line Items]        
Stated Coupon Rate 3.35%      
Effective Interest Rate 3.416%      
Long-term debt, gross $ 175,000   175,000  
3.450% Unsecured Senior Notes | Unsecured debt | Kilroy Realty L.P.        
Debt Instrument [Line Items]        
Stated Coupon Rate 3.45%      
Effective Interest Rate 3.507%      
Long-term debt, gross $ 75,000   75,000  
4.270% Unsecured Senior Notes | Unsecured debt | Kilroy Realty L.P.        
Debt Instrument [Line Items]        
Stated Coupon Rate 4.27%      
Effective Interest Rate 4.322%      
Long-term debt, gross $ 350,000   350,000  
4.375% Unsecured Senior Notes | Unsecured debt | Kilroy Realty L.P.        
Debt Instrument [Line Items]        
Stated Coupon Rate 4.375%      
Effective Interest Rate 4.444%      
Long-term debt, gross $ 0   400,000  
4.750% Unsecured Senior Notes | Unsecured debt | Kilroy Realty L.P.        
Debt Instrument [Line Items]        
Stated Coupon Rate 4.75%      
Effective Interest Rate 4.874%      
Long-term debt, gross $ 400,000   400,000  
4.250% Unsecured Senior Notes | Unsecured debt | Kilroy Realty L.P.        
Debt Instrument [Line Items]        
Stated Coupon Rate 4.25%      
Effective Interest Rate 4.383%      
Long-term debt, gross $ 400,000   400,000  
3.050% Unsecured Senior Notes | Unsecured debt | Kilroy Realty L.P.        
Debt Instrument [Line Items]        
Stated Coupon Rate 3.05%      
Effective Interest Rate 3.168%      
Long-term debt, gross $ 500,000   500,000  
2.500% Unsecured Senior Notes | Unsecured debt | Kilroy Realty L.P.        
Debt Instrument [Line Items]        
Stated Coupon Rate 2.50%      
Effective Interest Rate 2.626%      
Long-term debt, gross $ 425,000   425,000  
2.650% Unsecured Senior Notes | Unsecured debt | Kilroy Realty L.P.        
Debt Instrument [Line Items]        
Stated Coupon Rate 2.65%      
Effective Interest Rate 2.727%      
Long-term debt, gross $ 450,000   450,000  
5.875% Unsecured Senior Notes Due 2035 | Unsecured debt | Kilroy Realty L.P.        
Debt Instrument [Line Items]        
Stated Coupon Rate 5.875% 5.875%    
Effective Interest Rate 6.076%      
Long-term debt, gross $ 400,000 $ 400,000 0  
Less: Unamortized Net Discounts and Deferred Financing costs   $ (4,000)    
6.250% Unsecured Senior Notes | Unsecured debt | Kilroy Realty L.P.        
Debt Instrument [Line Items]        
Stated Coupon Rate 6.25%     6.25%
Effective Interest Rate 6.412%      
Long-term debt, gross $ 400,000   400,000 $ 400,000
Unamortized discount (premium), net       $ (4,500)
Unsecured Senior Notes | Unsecured debt        
Debt Instrument [Line Items]        
Unamortized discount (premium), net (11,000)   (8,400)  
Unamortized deferred financing costs $ (16,900)   $ (15,800)  
v3.25.4
Secured and Unsecured Debt of the Operating Partnership - Unsecured Revolving Credit Facility and Term Loan Facility (Details)
12 Months Ended
Dec. 31, 2025
USD ($)
extension_option
Dec. 31, 2024
USD ($)
extension_option
Debt Instrument [Line Items]    
Deferred financing costs, net $ 9,150,000 $ 12,692,000
Number of extension options | extension_option   2
Revolving credit facility | Kilroy Realty L.P.    
Debt Instrument [Line Items]    
Outstanding borrowings 0 $ 0
Remaining borrowing capacity 1,100,000,000 1,100,000,000
Total borrowing capacity $ 1,100,000,000 $ 1,100,000,000
Interest rate 5.07% 5.69%
Annual facility fee (percent) 0.25% 0.25%
Deferred financing costs, net $ 9,150,000 $ 12,692,000
Contingent additional borrowings $ 500,000,000.0 $ 500,000,000.0
Extension period (in months) 6 months 6 months
Revolving credit facility | Kilroy Realty L.P. | Unsecured Revolving Credit Facility    
Debt Instrument [Line Items]    
Outstanding letters of credit $ 5,200,000 $ 5,200,000
Debt instrument, reduction interest rate 0.01% 0.01%
Revolving credit facility | Kilroy Realty L.P. | Unsecured Revolving Credit Facility | Secured Overnight Financing Rate (SOFR)    
Debt Instrument [Line Items]    
Basis spread on SOFR and LIBOR 1.10% 1.10%
Revolving Credit Facility and Term Loan Facility | Kilroy Realty L.P. | Unsecured Revolving Credit Facility | Adjusted SOFR    
Debt Instrument [Line Items]    
Basis spread on SOFR and LIBOR 0.10% 0.10%
Unsecured debt | Kilroy Realty L.P. | 2024 Term Loan Facility    
Debt Instrument [Line Items]    
Number of extension options | extension_option 2  
Extension period (in months) 12 months  
Line of credit | Kilroy Realty L.P. | 2024 Term Loan Facility    
Debt Instrument [Line Items]    
Outstanding borrowings $ 200,000,000 $ 200,000,000
Interest rate 5.02% 5.70%
Deferred financing costs, net $ 277,000 $ 1,229,000
Contingent additional borrowings $ 130,000,000.0  
Term Loan Facility | Kilroy Realty L.P. | 2024 Term Loan Facility | Secured Overnight Financing Rate (SOFR)    
Debt Instrument [Line Items]    
Basis spread on SOFR and LIBOR 1.20% 1.20%
v3.25.4
Secured and Unsecured Debt of the Operating Partnership - Debt Maturities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Stated debt maturities and scheduled amortization payments, excluding debt discounts    
2026 $ 601,317  
2027 249,125  
Thereafter 2,400,000  
Deferred financing costs, net 9,150 $ 12,692
Kilroy Realty L.P.    
Stated debt maturities and scheduled amortization payments, excluding debt discounts    
2028 400,000  
2029 475,000  
2030 500,000  
Total aggregate principal value 4,625,442  
Less: Unamortized Net Discounts and Deferred Financing costs (35,983)  
Total secured debt, net 4,589,459  
Kilroy Realty L.P. | Unsecured Term Loan Facility    
Stated debt maturities and scheduled amortization payments, excluding debt discounts    
Deferred financing costs, net 25,000  
Kilroy Realty L.P. | Unsecured Senior Notes    
Stated debt maturities and scheduled amortization payments, excluding debt discounts    
Unamortized discount $ 11,000  
v3.25.4
Secured and Unsecured Debt of the Operating Partnership - Capitalized Interest and Loan Fees (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Capitalized Interest and Loan Fees [Line Items]      
Interest expense $ 126,292 $ 145,287 $ 114,216
Kilroy Realty L.P.      
Capitalized Interest and Loan Fees [Line Items]      
Gross interest expense 211,379 227,748 192,983
Capitalized interest (85,087) (82,461) (78,767)
Interest expense $ 126,292 $ 145,287 $ 114,216
v3.25.4
Deferred Revenue and Acquisition-Related Intangible Liabilities, net - Deferred Revenue and Acquisition-Related Intangible Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]    
Deferred revenue related to tenant-funded tenant improvements, net $ 70,813 $ 81,738
Other deferred revenue, net 28,136 33,281
Acquisition-related intangible liabilities, net 26,679 27,418
Deferred revenue and acquisition-related intangible liabilities, net $ 125,628 $ 142,437
v3.25.4
Deferred Revenue and Acquisition-Related Intangible Liabilities, net - Estimated Amortization of Deferred Revenue (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Deferred Revenue, Future Amortization Recognized By Year [Abstract]      
Total $ 70,813 $ 81,738  
Tenant funded tenant improvements      
Disaggregation of Revenue [Line Items]      
Deferred revenues amortized and recognized as rental income 14,600 $ 19,100 $ 20,700
Deferred Revenue, Future Amortization Recognized By Year [Abstract]      
2026 12,933    
2027 11,619    
2028 10,457    
2029 9,726    
2030 9,037    
Thereafter 17,041    
Total $ 70,813    
v3.25.4
Noncontrolling Interests on the Company’s Consolidated Financial Statements (Details)
$ / shares in Units, $ in Millions
12 Months Ended
Dec. 31, 2025
USD ($)
trading_day
$ / shares
shares
Dec. 31, 2024
USD ($)
trading_day
$ / shares
shares
Noncontrolling Interest [Line Items]    
Conversion ratio 1  
Common stock, par value ( in dollars per share) | $ / shares $ 0.01 $ 0.01
Number of trading days | trading_day 10 10
Redeemable noncontrolling interest, equity, common, fair value | $ $ 43.2 $ 46.8
Non-Affiliated Investors and Certain Executive Officer and Directors | Common Units    
Noncontrolling Interest [Line Items]    
Non-affiliated investors and other common units of the Operating Partnership (in shares) 1,133,562 1,150,574
Kilroy Realty L.P. | Common Units    
Noncontrolling Interest [Line Items]    
Conversion ratio 1  
Kilroy Realty L.P. | Common Units    
Noncontrolling Interest [Line Items]    
Non-affiliated investors and other common units of the Operating Partnership (in shares) 1,133,562 1,150,574
Operating Partnership    
Noncontrolling Interest [Line Items]    
Ownership interest (percent) 99.10% 99.00%
Operating Partnership | Non-Affiliated Investors and Certain Executive Officer and Directors    
Noncontrolling Interest [Line Items]    
Ownership interest (percent) 0.90% 1.00%
v3.25.4
Noncontrolling Interests on the Operating Partnership’s Consolidated Financial Statements (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Redwood LLC    
Noncontrolling Interest [Line Items]    
Consolidated property partnerships $ 4,700 $ 4,900
Variable Interest Entity, Primary Beneficiary | 100 First LLC and 303 Second LLC    
Noncontrolling Interest [Line Items]    
Consolidated property partnerships $ 160,299 $ 169,445
v3.25.4
Stockholders' Equity of the Company - Narrative (Details) - USD ($)
Dec. 31, 2025
Mar. 31, 2024
Feb. 29, 2024
2024 At-The-Market Program      
Class of Stock [Line Items]      
At the market stock offering aggregate gross sales price of common stock   $ 500,000,000.0  
Share Repurchase Program      
Class of Stock [Line Items]      
Aggregate gross purchase price $ 500,000,000   $ 500,000,000
v3.25.4
Stockholders' Equity of the Company - At-The-Market Offering and Derivatives and Distributions (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dividends and Distributions payable to:    
Accrued distributions $ 65,009 $ 64,850
Outstanding Shares and Units:    
Common stock (in shares) 118,372,451 118,046,674
Restricted Stock Units (RSUs)    
Outstanding Shares and Units:    
RSUs (in shares) 846,072 861,385
Kilroy Realty L.P.    
Dividends and Distributions payable to:    
Accrued distributions $ 65,009 $ 64,850
Kilroy Realty L.P. | Restricted Stock Units (RSUs)    
Dividends and Distributions payable to:    
Accrued distributions $ 476 $ 484
Kilroy Realty L.P. | Market measure-based Restricted Stock Units (RSUs)    
Outstanding Shares and Units:    
Number of RSUs outstanding (in shares) 1,394,111 926,695
Kilroy Realty L.P. | Common Units    
Outstanding Shares and Units:    
Noncontrolling common units ( in shares ) 1,133,562 1,150,574
Noncontrolling common units | Common Units    
Outstanding Shares and Units:    
Noncontrolling common units ( in shares ) 1,133,562 1,150,574
Common stockholders and noncontrolling unitholders    
Dividends and Distributions payable to:    
Accrued distributions $ 65,009 $ 64,850
Common stockholders    
Dividends and Distributions payable to:    
Accrued distributions $ 63,921 $ 63,745
Outstanding Shares and Units:    
Common stock (in shares) 118,372,451 118,046,674
Common Units    
Dividends and Distributions payable to:    
Accrued distributions $ 612 $ 621
v3.25.4
Partners' Capital of the Operating Partnership - At-The-Market Stock Offering, Common Units and Accrued Distributions (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Accrued distributions    
Accrued distributions $ 65,009 $ 64,850
Operating Partnership    
General Partners' Capital Account    
Ownership interest (percent) 99.10% 99.00%
Kilroy Realty L.P.    
Accrued distributions    
Accrued distributions $ 65,009 $ 64,850
Kilroy Realty L.P. | Restricted Stock Units (RSUs)    
Accrued distributions    
Accrued distributions $ 476 $ 484
RSUs (in shares) 846,072 861,385
Kilroy Realty L.P. | Market measure-based Restricted Stock Units (RSUs)    
Accrued distributions    
Number of RSUs outstanding (in shares) 1,394,111 926,695
Kilroy Realty L.P. | Partners’ Capital    
Accrued distributions    
Accrued distributions $ 65,009 $ 64,850
Kilroy Realty L.P. | Partners capital general partner    
Accrued distributions    
Accrued distributions 63,921 63,745
Kilroy Realty L.P. | Partners capital limited partner    
Accrued distributions    
Accrued distributions $ 612 $ 621
Non-Affiliated Investors | Operating Partnership    
General Partners' Capital Account    
Ownership interest (percent) 0.90% 1.00%
Common Units | Kilroy Realty L.P.    
General Partners' Capital Account    
Company owned common units in the Operating Partnership (in shares) 118,372,451 118,046,674
Non-affiliated investors and other common units of the Operating Partnership (in shares) 1,133,562 1,150,574
Common Units | Non-Affiliated Investors    
General Partners' Capital Account    
Non-affiliated investors and other common units of the Operating Partnership (in shares) 1,133,562 1,150,574
v3.25.4
Share-Based and Other Compensation - Stockholder Approved Share-Based Incentive Compensation Plan (Details)
shares in Millions
Dec. 31, 2025
compensation_plan
shares
Share-Based Payment Arrangement [Abstract]  
Number of share-based incentive compensation plans | compensation_plan 1
Effective registration shares (in shares) 12.6
Number of shares available for grant (in shares) 1.8
v3.25.4
Share-Based and Other Compensation - Annual Performance-Based RSU Grants (Details) - Performance-Based RSUs
12 Months Ended
Dec. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Vesting period 3 years
Vesting, achievement of pre-set FFO per share goals, percentage of RSUs 100.00%
Vesting criteria, one (percent) 50.00%
Vesting criteria, two (percent) 50.00%
Number of shares issuable per RSU 1
v3.25.4
Share-Based and Other Compensation - Schedule of Share-based Payment Award, Restricted Stock Units, Valuation Assumptions (Details) - USD ($)
$ / shares in Units, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
2025 Performance-Based RSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Fair value on valuation date $ 11.3    
Weighted average grant date fair value, granted (dollars per share) $ 36.49    
Expected share price volatility 38.00%    
Risk-free interest rate 4.35%    
2025 Performance-Based RSUs | Executive officer share-based compensation programs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Grants in period (in shares) 308,671    
2025 Performance-Based RSUs | Market measure-based RSUs earned      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Estimated RSUs earned (in shares) 472,942    
2024 Performance-Based RSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Fair value on valuation date   $ 9.5  
Weighted average grant date fair value, granted (dollars per share)   $ 35.66  
Expected share price volatility   34.00%  
Risk-free interest rate   3.98%  
2024 Performance-Based RSUs | Executive officer share-based compensation programs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Grants in period (in shares)   265,205  
2024 Performance-Based RSUs | Market measure-based RSUs earned      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Estimated RSUs earned (in shares)   474,214  
2023 Performance-Based RSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Fair value on valuation date     $ 12.0
Weighted average grant date fair value, granted (dollars per share)     $ 39.95
Expected share price volatility     35.00%
Risk-free interest rate     4.12%
2023 Performance-Based RSUs | Executive officer share-based compensation programs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Grants in period (in shares)     300,007
2023 Performance-Based RSUs | Market measure-based RSUs earned      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Estimated RSUs earned (in shares)     729,890
v3.25.4
Share-Based and Other Compensation - Summary of Performance-Based RSUs activity (Details) - $ / shares
12 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]        
Settled (in shares)   0    
Market measure-based Restricted Stock Units (RSUs)        
Weighted-Average Grant-Date Fair Value Per Share        
Outstanding beginning balance ( in dollars per share)   $ 42.26    
Granted ( in dollars per share)   36.49    
Performance award achievement (in dollars per share)   36.51    
Vested (in dollars per share)   62.93    
Settled (in dollars per share)   0    
Issuance of dividend equivalents ( in dollars per share)   35.87    
Canceled (in dollars per share)   37.24    
Outstanding ending balance (in dollars per share) $ 37.11 $ 37.11    
Nonvested Restricted Stock Units RSU | Market measure-based Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]        
Number of RSUs outstanding, beginning balance (in shares)   926,695    
Granted (in shares) 308,671 308,671 265,205 300,007
Performance award achievement (in shares)   294,387    
Vested (in shares)   183,474    
Issuance of dividend equivalents (in shares)   91,948    
Canceled (in shares)   (44,116)    
Number of RSUs outstanding, ending balance (in shares) 1,394,111 1,394,111    
Weighted-Average Grant-Date Fair Value Per Share        
Granted ( in dollars per share) $ 36.49   $ 35.66 $ 39.95
Vested Restricted Stock Units RSU        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]        
Vested (in shares) 190,826   1,089,879 290,570
Vested Restricted Stock Units RSU | Market measure-based Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]        
Vested RSUs, beginning balance (in shares)   81,274    
Granted (in shares)   0    
Performance award achievement (in shares)   0    
Vested (in shares)   183,474    
Settled (in shares)   (137,016)    
Issuance of dividend equivalents (in shares)   7,352    
Canceled (in shares)   0    
Vested RSUs, ending balance (in shares) 135,084 135,084    
Restricted Stock Units (RSUs) | Market measure-based Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]        
Total RSUs, beginning balance (in shares)   1,007,969    
Granted (in shares)   308,671    
Performance award achievement (in shares)   294,387    
Vested (in shares)   0    
Settled (in shares)   (137,016)    
Issuance of dividend equivalents (in shares)   99,300    
Canceled (in shares)   (44,116)    
Total RSUs, ending balance (in shares) 1,529,195 1,529,195    
v3.25.4
Share-Based and Other Compensation - Schedule of Performance-Based RSUs Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Vested RSUs        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vested (in shares) 190,826   1,089,879 290,570
Market measure-based Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Fair value per share on valuation date ( in dollars per share)   $ 36.49    
Market measure-based Restricted Stock Units (RSUs) | Nonvested Restricted Stock Units RSU        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Granted (in shares) 308,671 308,671 265,205 300,007
Fair value per share on valuation date ( in dollars per share) $ 36.49   $ 35.66 $ 39.95
Vested (in shares)   183,474    
Market measure-based Restricted Stock Units (RSUs) | Vested RSUs        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Granted (in shares)   0    
Vested (in shares)   183,474    
Total Fair Value at Vest Date $ 7,016   $ 38,364 $ 11,105
v3.25.4
Share-Based and Other Compensation - Time-Based RSU Grants (Details) - Time-Based RSUs
12 Months Ended
Dec. 31, 2025
installment
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Vesting period 3 years
Number of installments | installment 3
Right to receive number of shares (in shares) | shares 1
v3.25.4
Share-Based and Other Compensation - Summary of Time-Based RSUs (Details) - $ / shares
12 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]        
Settled (in shares)   0    
Vested RSUs        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]        
Vested (in shares) (190,826)   (1,089,879) (290,570)
Time-Based Restricted Stock Units (RSUs) | Nonvested Restricted Stock Units RSU        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]        
Number of RSUs outstanding, beginning balance (in shares)   537,426    
Granted (in shares)   258,356    
Vested (in shares)   (313,893)    
Settled (in shares)   0    
Issuance of dividend equivalents (in shares)   27,154    
Forfeited (in shares)   (25,401)    
Number of RSUs outstanding, ending balance (in shares) 483,642 483,642    
Weighted Average Grant-Date Fair Value Per Share        
Outstanding beginning balance ( in dollars per share)   $ 36.37    
Granted ( in dollars per share)   34.66    
Vested (in dollars per share)   40.85    
Settled (in dollars per share)   0    
Issuance of dividend equivalents ( in dollars per share)   35.87    
Forfeited (in dollars per share)   35.81    
Outstanding ending balance (in dollars per share) $ 35.37 $ 35.37    
Time-Based Restricted Stock Units (RSUs) | Vested RSUs        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]        
Vested RSUs, beginning balance (in shares)   242,685    
Granted (in shares)   0    
Vested (in shares)   (313,893)    
Settled (in shares)   (347,900)    
Issuance of dividend equivalents (in shares)   18,668    
Forfeited (in shares)   0    
Vested RSUs, ending balance (in shares) 227,346 227,346    
Time-Based Restricted Stock Units (RSUs) | Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]        
Total RSUs, beginning balance (in shares)   780,111    
Granted (in shares)   258,356    
Vested (in shares)   0    
Settled (in shares)   (347,900)    
Issuance of dividend equivalents (in shares)   45,822    
Forfeited (in shares)   (25,401)    
Total RSUs, ending balance (in shares) 710,988 710,988    
Market measure-based Restricted Stock Units (RSUs)        
Weighted Average Grant-Date Fair Value Per Share        
Outstanding beginning balance ( in dollars per share)   $ 42.26    
Granted ( in dollars per share)   36.49    
Vested (in dollars per share)   62.93    
Settled (in dollars per share)   0    
Issuance of dividend equivalents ( in dollars per share)   35.87    
Forfeited (in dollars per share)   37.24    
Outstanding ending balance (in dollars per share) $ 37.11 $ 37.11    
Market measure-based Restricted Stock Units (RSUs) | Nonvested Restricted Stock Units RSU        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]        
Number of RSUs outstanding, beginning balance (in shares)   926,695    
Granted (in shares) 308,671 308,671 265,205 300,007
Vested (in shares)   (183,474)    
Issuance of dividend equivalents (in shares)   91,948    
Forfeited (in shares)   (44,116)    
Number of RSUs outstanding, ending balance (in shares) 1,394,111 1,394,111    
Weighted Average Grant-Date Fair Value Per Share        
Granted ( in dollars per share) $ 36.49   $ 35.66 $ 39.95
Market measure-based Restricted Stock Units (RSUs) | Vested RSUs        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]        
Vested RSUs, beginning balance (in shares)   81,274    
Granted (in shares)   0    
Vested (in shares)   (183,474)    
Settled (in shares)   (137,016)    
Issuance of dividend equivalents (in shares)   7,352    
Forfeited (in shares)   0    
Vested RSUs, ending balance (in shares) 135,084 135,084    
Market measure-based Restricted Stock Units (RSUs) | Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]        
Total RSUs, beginning balance (in shares)   1,007,969    
Granted (in shares)   308,671    
Vested (in shares)   0    
Settled (in shares)   (137,016)    
Issuance of dividend equivalents (in shares)   99,300    
Forfeited (in shares)   (44,116)    
Total RSUs, ending balance (in shares) 1,529,195 1,529,195    
v3.25.4
Share-Based and Other Compensation - Time-Based RSUs (Details) - USD ($)
$ / shares in Units, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Vested Restricted Stock Units RSU      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vested (in shares) 190,826 1,089,879 290,570
Restricted Stock Units (RSUs) | Nonvested Restricted Stock Units RSU      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Granted (in shares) 258,356 385,718 247,017
Fair value per share on valuation date ( in dollars per share) $ 34.66 $ 36.12 $ 38.12
Restricted Stock Units (RSUs) | Vested Restricted Stock Units RSU      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vested (in shares) 332,561 281,168 343,334
Total Fair Value at Vest Date $ 12,236 $ 10,878 $ 12,425
v3.25.4
Share-Based and Other Compensation - Share-Based Compensation Cost and Other Compensation (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation expense $ 24.0 $ 24.4 $ 43.7
Share-based compensation expense capitalized 4.9 $ 6.8 6.9
Share-based compensation not yet recognized $ 26.5    
Share-based compensation not yet recognized period of recognition 1 year 8 months 12 days    
Severance      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation expense     $ 27.3
v3.25.4
Employee Benefit Plans (Details) - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Retirement Benefits [Abstract]      
401(k) plan, maximum participant deferral percent 60.00%    
401(k) plan, employer match per dollar of participant contribution $ 0.50    
401(k) plan, maximum employer match percentage 10.00%    
401(k) plan, contributions made $ 1,700,000 $ 1,800,000 $ 1,700,000
Deferred Compensation, maximum participant deferral percent 70.00%    
Deferred Compensation, maximum director fees and bonuses that may be deferred (percent) 100.00%    
Deferred Compensation, mandatory Company contributions as percentage of gross monthly salary (percent) 10.00%    
Deferred Compensation, liability under plan $ 30,200,000 $ 27,400,000  
v3.25.4
Rental Income and Future Minimum Rent - Rental income (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Fixed lease payments $ 900,285 $ 923,029 $ 944,618
Variable lease payments 194,374 197,502 184,672
Net collectability reversals (1,072) (2,416) (11,553)
Total rental income $ 1,093,587 $ 1,118,115 $ 1,117,737
v3.25.4
Rental Income and Future Minimum Rent - Future Contractual Minimum Rent (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Future contractual minimum rent under operating lease  
2026 $ 769,406
2027 769,403
2028 742,321
2029 666,034
2030 583,844
Thereafter 1,591,508
Total $ 5,122,516
v3.25.4
Commitments and Contingencies - Narrative (Details)
$ in Millions
12 Months Ended
Dec. 31, 2025
USD ($)
groundLease
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Long-term Purchase Commitment [Line Items]      
Commitments for contracts and executed leases, operating and redevelopment and development properties | $ $ 283.9    
Weighted average discount rate, ground leases 4.67%    
Weighted average remaining lease term 62 years    
Variable lease, cost | $ $ 5.0 $ 4.7 $ 4.0
Ten year ground lease extension option      
Long-term Purchase Commitment [Line Items]      
Number of extension options | groundLease 3    
Ground lease extension option term 10 years    
Forty-five year ground lease extension option      
Long-term Purchase Commitment [Line Items]      
Number of extension options | groundLease 1    
Ground lease extension option term 45 years    
v3.25.4
Commitments and Contingencies - Minimum Commitment Under Ground Leases (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Minimum commitment under our ground leases    
2026 $ 6,809  
2027 6,850  
2028 6,869  
2029 6,869  
2030 6,869  
Thereafter 360,875  
Total undiscounted cash flows 395,141  
Present value discount (267,513)  
Ground lease liabilities $ 127,628 $ 128,422
Period for ground lease rentals adjustment based on Consumer Price Index 5 years  
Period for ground lease rentals adjustment based on third-party appraisals 15 years  
Period after which ground lease rentals are adjusted 5 years  
Duration of ground lease increase 10 years  
Average annual percentage rent for previous ten years (percent) 60.00%  
Previous period included in average annual rent percentage for ten-year increases 3 years  
Ground lease fixed ground rent increase, percent 5.00%  
Percentage rent increase every year 2.00%  
Ground lease reset period 10 years  
Remaining ground lease obligation period 10 years  
Ground lease variable rental payment as percentage of gross income 1.50%  
v3.25.4
Commitment and Contingencies - Accrued Environmental Remediation Liabilities (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Other Commitments [Line Items]    
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration] Environmental liabilities Environmental liabilities
Environmental liabilities    
Other Commitments [Line Items]    
Accrued environmental remediation liabilities $ 70,030 $ 72,003
v3.25.4
Fair Value Measurements and Disclosures - Assets and Liabilities Reported at Fair Value (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Fair Value (Level 1)    
Assets and Liabilities Reported at Fair Value    
Deferred compensation plan assets $ 30,807 $ 27,965
v3.25.4
Fair Value Measurements and Disclosures - Financial Instruments Disclosed at Fair Value (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
December 31, 2025 | Secured debt, net    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of debt, net $ 592,685 $ 598,199
December 31, 2025 | Unsecured debt, net    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of debt, net 3,996,774 3,999,566
Fair value | Secured debt, net | Fair value (Level 2)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of debt, net 587,244 569,061
Fair value | Unsecured debt, net | Fair value (Level 2)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of debt, net $ 3,834,485 $ 3,681,914
v3.25.4
Net Income Available to Common Stockholders Per Share of the Company - Basic and Diluted Net Income Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Numerator:      
Net income available to common stockholders $ 276,121 $ 210,969 $ 212,241
Allocation to participating securities (925) (1,967) (1,233)
Numerator for basic and diluted net income available to common stockholders $ 275,196 $ 209,002 $ 211,008
Denominator:      
Basic weighted average vested shares outstanding (in shares) 118,278,990 117,649,111 117,160,173
Effect of dilutive securities (in shares) 553,045 507,876 346,082
Diluted weighted average vested shares and common stock/ unit equivalents outstanding (in shares) 118,832,035 118,156,987 117,506,255
Basic earnings per share:      
Net income available to common stockholders per share - basic ( in dollars per share) $ 2.33 $ 1.78 $ 1.80
Diluted earnings per share:      
Net income available to common stockholders per share - diluted (in dollars per share) $ 2.32 $ 1.77 $ 1.80
v3.25.4
Net Income Available to Common Unitholders Per Unit of the Operating Partnership - Basic and Diluted Net Income Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Numerator:      
Net income $ 302,640 $ 232,954 $ 238,288
Net income available to common unitholders 276,121 210,969 212,241
Allocation to participating securities (925) (1,967) (1,233)
Numerator for basic and diluted net income available to common unitholders $ 275,196 $ 209,002 $ 211,008
Denominator:      
Basic weighted average vested units outstanding (in shares) 118,278,990 117,649,111 117,160,173
Effect of dilutive securities (in shares) 553,045 507,876 346,082
Diluted weighted average vested shares and common stock/ unit equivalents outstanding (in shares) 118,832,035 118,156,987 117,506,255
Basic earnings per unit:      
Net income available to common unitholders per unit (in dollars per share) $ 2.33 $ 1.78 $ 1.80
Diluted earnings per unit:      
Net income available to common unitholders per unit (in dollars per share) $ 2.32 $ 1.77 $ 1.80
Kilroy Realty L.P.      
Numerator:      
Net income $ 302,640 $ 232,954 $ 238,288
Net income available to common unitholders 278,803 213,031 214,324
Allocation to participating securities (925) (1,967) (1,233)
Numerator for basic and diluted net income available to common unitholders $ 277,878 $ 211,064 $ 213,091
Denominator:      
Basic weighted average vested units outstanding (in shares) 119,428,865 118,799,685 118,310,747
Effect of dilutive securities (in shares) 553,045 507,876 346,082
Diluted weighted average vested shares and common stock/ unit equivalents outstanding (in shares) 119,981,910 119,307,561 118,656,829
Basic earnings per unit:      
Net income available to common unitholders per unit (in dollars per share) $ 2.33 $ 1.78 $ 1.80
Diluted earnings per unit:      
Net income available to common unitholders per unit (in dollars per share) $ 2.32 $ 1.77 $ 1.80
Kilroy Realty L.P. | Partners’ Capital      
Numerator:      
Net income $ 278,803 $ 213,031 $ 214,324
v3.25.4
Supplemental Cash Flows Information of the Company and the Operating Partnership - Supplemental Cash Flow (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other Significant Noncash Transactions [Line Items]      
Capitalized interest $ 79,542 $ 77,871 $ 74,052
Cash paid for interest, net of capitalized interest of $79,542, $77,871, and $74,052 as of December 31, 2025, 2024, and 2023, respectively 115,912 126,668 105,767
Cash paid for amounts included in the measurement of ground lease liabilities 7,578 6,484 6,733
NON-CASH INVESTING TRANSACTIONS:      
Accrual for expenditures for operating properties and development and redevelopment properties 62,570 54,190 95,575
Tenant improvements funded directly by tenants 3,026 2,745 7,364
Remeasurement of ground lease liability and related right of use ground lease asset 0 4,782 0
NON-CASH FINANCING TRANSACTIONS:      
Accrual of dividends and distributions payable to common stockholders and common unitholders (Note 12) 65,009 64,850 64,440
Kilroy Realty L.P.      
Other Significant Noncash Transactions [Line Items]      
Capitalized interest 79,542 77,871 74,052
Cash paid for interest, net of capitalized interest of $79,542, $77,871, and $74,052 as of December 31, 2025, 2024, and 2023, respectively 115,912 126,668 105,767
Cash paid for amounts included in the measurement of ground lease liabilities 7,578 6,484 6,733
NON-CASH INVESTING TRANSACTIONS:      
Accrual for expenditures for operating properties and development and redevelopment properties 62,570 54,190 95,575
Tenant improvements funded directly by tenants 3,026 2,745 7,364
Remeasurement of ground lease liability and related right of use ground lease asset 0 4,782 0
NON-CASH FINANCING TRANSACTIONS:      
Accrual of dividends and distributions payable to common stockholders and common unitholders (Note 12) $ 65,009 $ 64,850 $ 64,440
v3.25.4
Tax Treatment of Distributions - Dividends (Details) - $ / shares
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Tax Treatment of Distributions [Abstract]      
Dividends declared per share of common stock ( in dollars per share) $ 2.16 $ 2.16 $ 2.16
Less: Dividends declared in the current year and paid in the following year ( in dollars per share) (0.54) (0.54) (0.54)
Add: Dividends declared in the prior year and paid in the current year ( in dollars per share) 0.54 0.54 0.54
Dividends paid per share of common stock (in dollars per share) $ 2.16 $ 2.16 $ 2.16
v3.25.4
Tax Treatment of Distributions - Dividends Tax Treatment (Details) - $ / shares
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Treatment of Dividends Paid [Line Items]      
Dividends paid per share of common stock (in dollars per share) $ 2.16 $ 2.16 $ 2.16
Ordinary income | Common Stock      
Income Tax Treatment of Dividends Paid [Line Items]      
Dividends paid per share of common stock (in dollars per share) $ 1.43 $ 1.92 $ 2.09
Dividends paid per share of common stock, percentage 66.34% 88.75% 96.67%
Return of capital | Common Stock      
Income Tax Treatment of Dividends Paid [Line Items]      
Dividends paid per share of common stock (in dollars per share) $ 0.25 $ 0.24 $ 0.07
Dividends paid per share of common stock, percentage 11.62% 11.02% 3.21%
Capital gains | Common Stock      
Income Tax Treatment of Dividends Paid [Line Items]      
Dividends paid per share of common stock (in dollars per share) $ 0.04 $ 0.01 $ 0
Dividends paid per share of common stock, percentage 1.76% 0.23% 0.12%
Unrecaptured section 1250 gains | Common Stock      
Income Tax Treatment of Dividends Paid [Line Items]      
Dividends paid per share of common stock (in dollars per share) $ 0.44 $ 0 $ 0
Dividends paid per share of common stock, percentage 20.28% 0.00% 0.00%
Tax treatment | Common Stock      
Income Tax Treatment of Dividends Paid [Line Items]      
Dividends paid per share of common stock (in dollars per share) $ 2.16 $ 2.16 $ 2.16
Dividends paid per share of common stock, percentage 100.00% 100.00% 100.00%
v3.25.4
Segments (Details)
$ in Thousands
12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2025
reportableSegment
Dec. 31, 2025
operatingSegment
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Segment Reporting [Abstract]          
Number of operating segments   1 1    
Number of reportable segments | reportableSegment   1      
Revenues:          
Rental income $ 1,093,587     $ 1,118,115 $ 1,117,737
Other property income 19,080     17,514 11,957
Total revenues 1,112,667     1,135,629 1,129,694
Expenses:          
Property expenses 243,726     243,441 228,964
Real estate taxes 107,564     108,951 105,868
Ground leases 12,048     11,715 9,732
General and administrative expenses 73,108     71,074 94,264
Leasing costs 10,352     8,764 6,506
Depreciation and amortization 354,854     356,182 355,278
Total expenses 801,652     800,127 800,612
Other Income (Expenses):          
Interest income 6,970     37,752 22,592
Interest expense (126,292)     (145,287) (114,216)
Other income (expense) 168     (992) 830
Gains on sales of depreciable operating properties 127,038     0 0
Impairment of real estate assets 16,259     0 0
Gain on sale of long-lived assets 0     5,979 0
Total other expenses (8,375)     (102,548) (90,794)
Net income 302,640     232,954 238,288
Office and Life Science Properties Segment          
Revenues:          
Rental income 1,093,587     1,118,115 1,117,737
Other property income 19,080     17,514 11,957
Total revenues 1,112,667     1,135,629 1,129,694
Expenses:          
Property expenses 243,726     243,441 228,964
Real estate taxes 107,564     108,951 105,868
Ground leases 12,048     11,715 9,732
General and administrative expenses 73,108     71,074 94,264
Leasing costs 10,352     8,764 6,506
Depreciation and amortization 354,854     356,182 355,278
Total expenses 801,652     800,127 800,612
Other Income (Expenses):          
Interest income 6,970     37,752 22,592
Interest expense (126,292)     (145,287) (114,216)
Other income (expense) 168     (992) 830
Gains on sales of depreciable operating properties 127,038     0 0
Impairment of real estate assets (16,259)     0 0
Gain on sale of long-lived assets 0     5,979 0
Total other expenses (8,375)     (102,548) (90,794)
Net income $ 302,640     $ 232,954 $ 238,288
v3.25.4
Schedule II - Valuation and Qualifying Accounts - Allowances (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Uncollectible tenant receivables      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at Beginning of Period $ 314 $ 1,567 $ 2,233
Charged to Costs and Expenses 420 374 1,524
Deductions (490) (1,627) (2,190)
Balance at End of Period 244 314 1,567
Allowance for deferred rent      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at Beginning of Period 0 728 965
Charged to Costs and Expenses 1 0 667
Deductions (1) (728) (904)
Balance at End of Period $ 0 $ 0 $ 728
v3.25.4
Schedule III - Real Estate and Accumulated Depreciation - Schedule of Real Estate and Accumulated Depreciation (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
ft²
property
development_project
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, encumbrances $ 600,442      
Initial cost, land and improvements 2,338,175      
Initial cost, buildings and Improvements 3,163,966      
Costs Capitalized Subsequent  to Acquisition/ Improvement 7,033,000      
Land and improvements, gross 2,429,553      
Buildings and improvements, gross 10,105,588      
Land and improvements and buildings and improvements, gross 12,535,141      
Accumulated Depreciation $ 2,843,811 $ 2,824,616 $ 2,518,304 $ 2,218,710
Rentable square feet (unaudited) | ft² 16,292,164      
Unamortized deferred financing costs $ (9,150) (12,692)    
Kilroy Realty L.P.        
Real Estate and Accumulated Depreciation [Line Items]        
Long-term debt, gross 4,625,442      
Kilroy Realty L.P. | Secured debt        
Real Estate and Accumulated Depreciation [Line Items]        
Unamortized deferred financing costs (7,757) (8,489)    
3.57% Mortgage Payable due December 2026 | Kilroy Realty L.P.        
Real Estate and Accumulated Depreciation [Line Items]        
Long-term debt, gross 148,800      
3.57% Mortgage Payable due December 2026 | Kilroy Realty L.P. | Secured debt        
Real Estate and Accumulated Depreciation [Line Items]        
Long-term debt, gross 148,815 152,668    
5.90% Mortgage Payable due August 2034 | Kilroy Realty L.P.        
Real Estate and Accumulated Depreciation [Line Items]        
Long-term debt, gross 375,000      
5.90% Mortgage Payable due August 2034 | Kilroy Realty L.P. | Secured debt        
Real Estate and Accumulated Depreciation [Line Items]        
Long-term debt, gross 375,000 375,000    
4.48% Mortgage Payable due July 2027 | Kilroy Realty L.P. | Secured debt        
Real Estate and Accumulated Depreciation [Line Items]        
Long-term debt, gross $ 76,627 $ 79,020    
Building        
Real Estate and Accumulated Depreciation [Line Items]        
Depreciation life 35 years      
Tenant Improvements | Minimum        
Real Estate and Accumulated Depreciation [Line Items]        
Property, plant and equipment, useful life 1 year      
Tenant Improvements | Maximum        
Real Estate and Accumulated Depreciation [Line Items]        
Property, plant and equipment, useful life 20 years      
In-process development project - tenant improvement        
Real Estate and Accumulated Depreciation [Line Items]        
Rentable square feet (unaudited) | ft² 871,738      
Number of buildings | development_project 1      
345 N. Maple Drive, Beverly Hills, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 28,986      
Initial cost, buildings and Improvements 154,148      
Costs Capitalized Subsequent  to Acquisition/ Improvement 305      
Land and improvements, gross 28,986      
Buildings and improvements, gross 154,453      
Land and improvements and buildings and improvements, gross 183,439      
Accumulated Depreciation $ 2,356      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 306,366      
3101 - 3243 S. La Cienega Blvd., Culver City, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 150,718      
Initial cost, buildings and Improvements 31,033      
Costs Capitalized Subsequent  to Acquisition/ Improvement 8,524      
Land and improvements, gross 150,718      
Buildings and improvements, gross 39,557      
Land and improvements and buildings and improvements, gross 190,275      
Accumulated Depreciation $ 29,276      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 166,207      
2240 E. Imperial Highway, El Segundo, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 1,044      
Initial cost, buildings and Improvements 11,763      
Costs Capitalized Subsequent  to Acquisition/ Improvement 30,740      
Land and improvements, gross 1,048      
Buildings and improvements, gross 42,499      
Land and improvements and buildings and improvements, gross 43,547      
Accumulated Depreciation $ 33,616      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 122,870      
2250 E. Imperial Highway, El Segundo, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 2,579      
Initial cost, buildings and Improvements 29,062      
Costs Capitalized Subsequent  to Acquisition/ Improvement 38,157      
Land and improvements, gross 2,547      
Buildings and improvements, gross 67,251      
Land and improvements and buildings and improvements, gross 69,798      
Accumulated Depreciation $ 63,889      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 298,728      
2260 E. Imperial Highway, El Segundo, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 2,518      
Initial cost, buildings and Improvements 28,370      
Costs Capitalized Subsequent  to Acquisition/ Improvement 38,003      
Land and improvements, gross 2,547      
Buildings and improvements, gross 66,344      
Land and improvements and buildings and improvements, gross 68,891      
Accumulated Depreciation $ 29,746      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 298,728      
909 N. Pacific Coast Highway, El Segundo, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 3,577      
Initial cost, buildings and Improvements 34,042      
Costs Capitalized Subsequent  to Acquisition/ Improvement 60,611      
Land and improvements, gross 3,565      
Buildings and improvements, gross 94,665      
Land and improvements and buildings and improvements, gross 98,230      
Accumulated Depreciation $ 61,673      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 244,880      
999 N. Pacific Coast Highway, El Segundo, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 1,407      
Initial cost, buildings and Improvements 34,326      
Costs Capitalized Subsequent  to Acquisition/ Improvement 19,308      
Land and improvements, gross 1,407      
Buildings and improvements, gross 53,634      
Land and improvements and buildings and improvements, gross 55,041      
Accumulated Depreciation $ 37,781      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 138,389      
3750 Kilroy Airport Way, Long Beach, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 0      
Initial cost, buildings and Improvements 1,941      
Costs Capitalized Subsequent  to Acquisition/ Improvement 13,718      
Land and improvements, gross 0      
Buildings and improvements, gross 15,659      
Land and improvements and buildings and improvements, gross 15,659      
Accumulated Depreciation $ 13,660      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 10,718      
3760 Kilroy Airport Way, Long Beach, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 0      
Initial cost, buildings and Improvements 17,467      
Costs Capitalized Subsequent  to Acquisition/ Improvement 24,161      
Land and improvements, gross 0      
Buildings and improvements, gross 41,628      
Land and improvements and buildings and improvements, gross 41,628      
Accumulated Depreciation $ 35,657      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 166,761      
3780 Kilroy Airport Way, Long Beach, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 0      
Initial cost, buildings and Improvements 22,319      
Costs Capitalized Subsequent  to Acquisition/ Improvement 41,190      
Land and improvements, gross 0      
Buildings and improvements, gross 63,509      
Land and improvements and buildings and improvements, gross 63,509      
Accumulated Depreciation $ 53,312      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 221,452      
3800 Kilroy Airport Way, Long Beach, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 0      
Initial cost, buildings and Improvements 19,408      
Costs Capitalized Subsequent  to Acquisition/ Improvement 25,856      
Land and improvements, gross 0      
Buildings and improvements, gross 45,264      
Land and improvements and buildings and improvements, gross 45,264      
Accumulated Depreciation $ 35,231      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 192,476      
3840 Kilroy Airport Way, Long Beach, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 0      
Initial cost, buildings and Improvements 13,586      
Costs Capitalized Subsequent  to Acquisition/ Improvement 33,409      
Land and improvements, gross 0      
Buildings and improvements, gross 46,995      
Land and improvements and buildings and improvements, gross 46,995      
Accumulated Depreciation $ 25,243      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 138,441      
3880 Kilroy Airport Way, Long Beach, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 0      
Initial cost, buildings and Improvements 9,704      
Costs Capitalized Subsequent  to Acquisition/ Improvement 18,398      
Land and improvements, gross 0      
Buildings and improvements, gross 28,102      
Land and improvements and buildings and improvements, gross 28,102      
Accumulated Depreciation $ 8,721      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 96,922      
3900 Kilroy Airport Way, Long Beach, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 0      
Initial cost, buildings and Improvements 12,615      
Costs Capitalized Subsequent  to Acquisition/ Improvement 23,741      
Land and improvements, gross 0      
Buildings and improvements, gross 36,356      
Land and improvements and buildings and improvements, gross 36,356      
Accumulated Depreciation $ 24,566      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 130,935      
1350 Ivar Ave., Los Angeles, CA (5)        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 1,575      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 14,276      
Land and improvements, gross 1,575      
Buildings and improvements, gross 14,276      
Land and improvements and buildings and improvements, gross 15,851      
Accumulated Depreciation $ 2,104      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 16,448      
1355 Vine St., Los Angeles, CA (5)        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 17,588      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 120,294      
Land and improvements, gross 17,588      
Buildings and improvements, gross 120,294      
Land and improvements and buildings and improvements, gross 137,882      
Accumulated Depreciation $ 18,232      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 183,129      
1375 Vine St., Los Angeles, CA (5)        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 15,578      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 103,368      
Land and improvements, gross 15,578      
Buildings and improvements, gross 103,368      
Land and improvements and buildings and improvements, gross 118,946      
Accumulated Depreciation $ 15,626      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 159,236      
1395 Vine St., Los Angeles, CA (5)        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 278      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 3,261      
Land and improvements, gross 278      
Buildings and improvements, gross 3,261      
Land and improvements and buildings and improvements, gross 3,539      
Accumulated Depreciation $ 481      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 2,575      
1500 N. El Centro Ave., Los Angeles, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 9,235      
Initial cost, buildings and Improvements 21      
Costs Capitalized Subsequent  to Acquisition/ Improvement 64,156      
Land and improvements, gross 9,235      
Buildings and improvements, gross 64,177      
Land and improvements and buildings and improvements, gross 73,412      
Accumulated Depreciation $ 21,890      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 113,447      
1525 N. Gower St., Los Angeles, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 1,318      
Initial cost, buildings and Improvements 3      
Costs Capitalized Subsequent  to Acquisition/ Improvement 9,774      
Land and improvements, gross 1,318      
Buildings and improvements, gross 9,777      
Land and improvements and buildings and improvements, gross 11,095      
Accumulated Depreciation $ 3,374      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 9,610      
1575 N. Gower St., Los Angeles, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 22,153      
Initial cost, buildings and Improvements 51      
Costs Capitalized Subsequent  to Acquisition/ Improvement 120,294      
Land and improvements, gross 22,153      
Buildings and improvements, gross 120,345      
Land and improvements and buildings and improvements, gross 142,498      
Accumulated Depreciation $ 33,933      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 264,430      
6115 W. Sunset Blvd., Los Angeles, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 1,313      
Initial cost, buildings and Improvements 3      
Costs Capitalized Subsequent  to Acquisition/ Improvement 17,259      
Land and improvements, gross 2,455      
Buildings and improvements, gross 16,120      
Land and improvements and buildings and improvements, gross 18,575      
Accumulated Depreciation $ 6,235      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 26,238      
6121 W. Sunset Blvd., Los Angeles, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 11,120      
Initial cost, buildings and Improvements 4,256      
Costs Capitalized Subsequent  to Acquisition/ Improvement 42,373      
Land and improvements, gross 8,703      
Buildings and improvements, gross 49,046      
Land and improvements and buildings and improvements, gross 57,749      
Accumulated Depreciation $ 14,678      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 93,418      
8560 W. Sunset Blvd., West Hollywood, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 9,720      
Initial cost, buildings and Improvements 50,956      
Costs Capitalized Subsequent  to Acquisition/ Improvement 8,435      
Land and improvements, gross 9,720      
Buildings and improvements, gross 59,391      
Land and improvements and buildings and improvements, gross 69,111      
Accumulated Depreciation $ 19,995      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 76,359      
8570 W. Sunset Blvd., West Hollywood, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 31,693      
Initial cost, buildings and Improvements 27,974      
Costs Capitalized Subsequent  to Acquisition/ Improvement 7,277      
Land and improvements, gross 31,693      
Buildings and improvements, gross 35,251      
Land and improvements and buildings and improvements, gross 66,944      
Accumulated Depreciation $ 12,137      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 49,276      
8580 W. Sunset Blvd., West Hollywood, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 10,013      
Initial cost, buildings and Improvements 3,695      
Costs Capitalized Subsequent  to Acquisition/ Improvement 1,844      
Land and improvements, gross 10,013      
Buildings and improvements, gross 5,539      
Land and improvements and buildings and improvements, gross 15,552      
Accumulated Depreciation $ 2,047      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 6,875      
8590 W. Sunset Blvd., West Hollywood, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 39,954      
Initial cost, buildings and Improvements 27,884      
Costs Capitalized Subsequent  to Acquisition/ Improvement 6,157      
Land and improvements, gross 39,954      
Buildings and improvements, gross 34,041      
Land and improvements and buildings and improvements, gross 73,995      
Accumulated Depreciation $ 11,092      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 56,750      
12100 W. Olympic Blvd., Los Angeles, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 352      
Initial cost, buildings and Improvements 45,611      
Costs Capitalized Subsequent  to Acquisition/ Improvement 30,156      
Land and improvements, gross 9,633      
Buildings and improvements, gross 66,486      
Land and improvements and buildings and improvements, gross 76,119      
Accumulated Depreciation $ 41,670      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 155,679      
12200 W. Olympic Blvd., Los Angeles, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 4,329      
Initial cost, buildings and Improvements 35,488      
Costs Capitalized Subsequent  to Acquisition/ Improvement 32,085      
Land and improvements, gross 3,977      
Buildings and improvements, gross 67,925      
Land and improvements and buildings and improvements, gross 71,902      
Accumulated Depreciation $ 52,690      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 154,544      
12233 W. Olympic Blvd., Los Angeles, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 22,100      
Initial cost, buildings and Improvements 53,170      
Costs Capitalized Subsequent  to Acquisition/ Improvement 7,147      
Land and improvements, gross 22,100      
Buildings and improvements, gross 60,317      
Land and improvements and buildings and improvements, gross 82,417      
Accumulated Depreciation $ 25,998      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 156,746      
12312 W. Olympic Blvd., Los Angeles, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 3,325      
Initial cost, buildings and Improvements 12,202      
Costs Capitalized Subsequent  to Acquisition/ Improvement 12,741      
Land and improvements, gross 3,399      
Buildings and improvements, gross 24,869      
Land and improvements and buildings and improvements, gross 28,268      
Accumulated Depreciation $ 21,516      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 78,900      
2100/2110 Colorado Ave., Santa Monica, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 5,474      
Initial cost, buildings and Improvements 26,087      
Costs Capitalized Subsequent  to Acquisition/ Improvement 21,796      
Land and improvements, gross 5,476      
Buildings and improvements, gross 47,881      
Land and improvements and buildings and improvements, gross 53,357      
Accumulated Depreciation $ 35,412      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 104,853      
12225 El Camino Real, San Diego, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 1,700      
Initial cost, buildings and Improvements 9,633      
Costs Capitalized Subsequent  to Acquisition/ Improvement 4,890      
Land and improvements, gross 1,673      
Buildings and improvements, gross 14,550      
Land and improvements and buildings and improvements, gross 16,223      
Accumulated Depreciation $ 11,750      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 58,401      
12235 El Camino Real, San Diego, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 1,507      
Initial cost, buildings and Improvements 8,543      
Costs Capitalized Subsequent  to Acquisition/ Improvement 10,461      
Land and improvements, gross 1,540      
Buildings and improvements, gross 18,971      
Land and improvements and buildings and improvements, gross 20,511      
Accumulated Depreciation $ 15,572      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 53,751      
El Camino Real, San Diego, California Three        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 4,201      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 40,640      
Land and improvements, gross 4,201      
Buildings and improvements, gross 40,640      
Land and improvements and buildings and improvements, gross 44,841      
Accumulated Depreciation $ 6,474      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 110,950      
El Camino Real, San Diego, California Four        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 3,453      
Initial cost, buildings and Improvements 11,981      
Costs Capitalized Subsequent  to Acquisition/ Improvement 12,910      
Land and improvements, gross 3,453      
Buildings and improvements, gross 24,891      
Land and improvements and buildings and improvements, gross 28,344      
Accumulated Depreciation $ 16,959      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 73,238      
El Camino Real, San Diego, California Five        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 9,360      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 37,329      
Land and improvements, gross 9,360      
Buildings and improvements, gross 37,329      
Land and improvements and buildings and improvements, gross 46,689      
Accumulated Depreciation $ 10,747      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 75,035      
El Camino Real, San Diego, California Six        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 18,398      
Initial cost, buildings and Improvements 54,954      
Costs Capitalized Subsequent  to Acquisition/ Improvement 24,329      
Land and improvements, gross 18,398      
Buildings and improvements, gross 79,283      
Land and improvements and buildings and improvements, gross 97,681      
Accumulated Depreciation $ 35,624      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 140,591      
El Camino Real, San Diego, California Seven        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 10,252      
Initial cost, buildings and Improvements 21,236      
Costs Capitalized Subsequent  to Acquisition/ Improvement 17,163      
Land and improvements, gross 10,252      
Buildings and improvements, gross 38,399      
Land and improvements and buildings and improvements, gross 48,651      
Accumulated Depreciation $ 16,560      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 87,944      
El Camino Real, San Diego, California Eight        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 28,645      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 113,232      
Land and improvements, gross 28,645      
Buildings and improvements, gross 113,232      
Land and improvements and buildings and improvements, gross 141,877      
Accumulated Depreciation $ 20,696      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 196,444      
El Camino Real, San Diego, California Nine        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 11,326      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 53,257      
Land and improvements, gross 11,326      
Buildings and improvements, gross 53,257      
Land and improvements and buildings and improvements, gross 64,583      
Accumulated Depreciation $ 9,658      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 92,042      
High Bluff Drive, San Diego, California One        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 1,629      
Initial cost, buildings and Improvements 3,096      
Costs Capitalized Subsequent  to Acquisition/ Improvement 10,270      
Land and improvements, gross 1,629      
Buildings and improvements, gross 13,366      
Land and improvements and buildings and improvements, gross 14,995      
Accumulated Depreciation $ 10,115      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 39,192      
High Bluff Drive, San Diego, California Two        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 15,167      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 50,063      
Land and improvements, gross 15,167      
Buildings and improvements, gross 50,063      
Land and improvements and buildings and improvements, gross 65,230      
Accumulated Depreciation $ 14,629      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 216,518      
High Bluff Drive, San Diego, California Three        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 3,013      
Initial cost, buildings and Improvements 8,032      
Costs Capitalized Subsequent  to Acquisition/ Improvement 1,400      
Land and improvements, gross 3,013      
Buildings and improvements, gross 9,432      
Land and improvements and buildings and improvements, gross 12,445      
Accumulated Depreciation $ 775      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 59,245      
High Bluff Drive, San Diego, California Four        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 3,013      
Initial cost, buildings and Improvements 6,134      
Costs Capitalized Subsequent  to Acquisition/ Improvement 782      
Land and improvements, gross 3,013      
Buildings and improvements, gross 6,916      
Land and improvements and buildings and improvements, gross 9,929      
Accumulated Depreciation $ 573      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 44,486      
Valley Centre Drive, San Diego, California One        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 2,167      
Initial cost, buildings and Improvements 6,897      
Costs Capitalized Subsequent  to Acquisition/ Improvement 11,977      
Land and improvements, gross 2,858      
Buildings and improvements, gross 18,183      
Land and improvements and buildings and improvements, gross 21,041      
Accumulated Depreciation $ 13,286      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 54,960      
Valley Centre Drive, San Diego, California Two        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 4,184      
Initial cost, buildings and Improvements 19,352      
Costs Capitalized Subsequent  to Acquisition/ Improvement 29,823      
Land and improvements, gross 5,259      
Buildings and improvements, gross 48,100      
Land and improvements and buildings and improvements, gross 53,359      
Accumulated Depreciation $ 37,365      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 132,425      
Valley Centre Drive, San Diego, California Three        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 4,038      
Initial cost, buildings and Improvements 21,144      
Costs Capitalized Subsequent  to Acquisition/ Improvement 21,366      
Land and improvements, gross 4,725      
Buildings and improvements, gross 41,823      
Land and improvements and buildings and improvements, gross 46,548      
Accumulated Depreciation $ 33,190      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 124,756      
Valley Centre Drive, San Diego, California Four        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 4,297      
Initial cost, buildings and Improvements 18,967      
Costs Capitalized Subsequent  to Acquisition/ Improvement 19,934      
Land and improvements, gross 4,254      
Buildings and improvements, gross 38,944      
Land and improvements and buildings and improvements, gross 43,198      
Accumulated Depreciation $ 25,998      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 117,777      
Valley Centre Drive, San Diego, California Five        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 3,452      
Initial cost, buildings and Improvements 16,152      
Costs Capitalized Subsequent  to Acquisition/ Improvement 22,042      
Land and improvements, gross 4,457      
Buildings and improvements, gross 37,189      
Land and improvements and buildings and improvements, gross 41,646      
Accumulated Depreciation $ 29,027      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 118,912      
Paseo Place, San Diego, CA (Retail)        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 24,358      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 76,879      
Land and improvements, gross 24,358      
Buildings and improvements, gross 76,879      
Land and improvements and buildings and improvements, gross 101,237      
Accumulated Depreciation $ 16,296      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 95,871      
2100 Kettner Blvd., San Diego, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 19,861      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 113,891      
Land and improvements, gross 19,861      
Buildings and improvements, gross 113,891      
Land and improvements and buildings and improvements, gross 133,752      
Accumulated Depreciation $ 10,557      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 212,915      
2305 Historic Decatur Rd., San Diego, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 5,240      
Initial cost, buildings and Improvements 22,220      
Costs Capitalized Subsequent  to Acquisition/ Improvement 12,114      
Land and improvements, gross 5,240      
Buildings and improvements, gross 34,334      
Land and improvements and buildings and improvements, gross 39,574      
Accumulated Depreciation $ 19,661      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 107,456      
John Hopkins Ct., San Diego, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 4,225      
Initial cost, buildings and Improvements 31,258      
Costs Capitalized Subsequent  to Acquisition/ Improvement 332      
Land and improvements, gross 4,262      
Buildings and improvements, gross 31,553      
Land and improvements and buildings and improvements, gross 35,815      
Accumulated Depreciation $ 190      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 45,589      
John Hopkins Ct., San Diego, CA one        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 5,598      
Initial cost, buildings and Improvements 33,443      
Costs Capitalized Subsequent  to Acquisition/ Improvement 347      
Land and improvements, gross 5,647      
Buildings and improvements, gross 33,741      
Land and improvements and buildings and improvements, gross 39,388      
Accumulated Depreciation $ 112      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 62,739      
3535 General Atomics Ct., San Diego, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 7,433      
Initial cost, buildings and Improvements 43,774      
Costs Capitalized Subsequent  to Acquisition/ Improvement 465      
Land and improvements, gross 7,499      
Buildings and improvements, gross 44,173      
Land and improvements and buildings and improvements, gross 51,672      
Accumulated Depreciation $ 193      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 80,543      
3535 General Atomics Ct., San Diego, CA One        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 4,057      
Initial cost, buildings and Improvements 24,355      
Costs Capitalized Subsequent  to Acquisition/ Improvement 253      
Land and improvements, gross 4,093      
Buildings and improvements, gross 24,572      
Land and improvements and buildings and improvements, gross 28,665      
Accumulated Depreciation $ 84      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 43,295      
4690 Executive Dr., San Diego, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 1,623      
Initial cost, buildings and Improvements 19,686      
Costs Capitalized Subsequent  to Acquisition/ Improvement 1,368      
Land and improvements, gross 1,624      
Buildings and improvements, gross 21,053      
Land and improvements and buildings and improvements, gross 22,677      
Accumulated Depreciation $ 1,447      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 52,074      
9455 Towne Centre Dr., San Diego, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 6,081      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 79,595      
Land and improvements, gross 6,081      
Buildings and improvements, gross 79,595      
Land and improvements and buildings and improvements, gross 85,676      
Accumulated Depreciation $ 12,233      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 160,444      
9514 Towne Centre Dr., San Diego, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 4,928      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 47,756      
Land and improvements, gross 4,928      
Buildings and improvements, gross 47,756      
Land and improvements and buildings and improvements, gross 52,684      
Accumulated Depreciation $ 3,451      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 70,616      
4100 Bohannon Dr., Menlo Park, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 4,835      
Initial cost, buildings and Improvements 15,526      
Costs Capitalized Subsequent  to Acquisition/ Improvement 1,525      
Land and improvements, gross 4,860      
Buildings and improvements, gross 17,026      
Land and improvements and buildings and improvements, gross 21,886      
Accumulated Depreciation $ 7,743      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 47,643      
4200 Bohannon Dr., Menlo Park, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 4,798      
Initial cost, buildings and Improvements 15,406      
Costs Capitalized Subsequent  to Acquisition/ Improvement 8,414      
Land and improvements, gross 4,662      
Buildings and improvements, gross 23,956      
Land and improvements and buildings and improvements, gross 28,618      
Accumulated Depreciation $ 11,723      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 43,600      
4300 Bohannon Dr., Menlo Park, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 6,527      
Initial cost, buildings and Improvements 20,958      
Costs Capitalized Subsequent  to Acquisition/ Improvement 8,047      
Land and improvements, gross 6,470      
Buildings and improvements, gross 29,062      
Land and improvements and buildings and improvements, gross 35,532      
Accumulated Depreciation $ 14,265      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 63,430      
4400 Bohannon Dr., Menlo Park, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 4,939      
Initial cost, buildings and Improvements 43,213      
Costs Capitalized Subsequent  to Acquisition/ Improvement 3,115      
Land and improvements, gross 4,939      
Buildings and improvements, gross 46,328      
Land and improvements and buildings and improvements, gross 51,267      
Accumulated Depreciation $ 2,589      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 48,414      
4500 Bohannon Dr., Menlo Park, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 6,527      
Initial cost, buildings and Improvements 20,957      
Costs Capitalized Subsequent  to Acquisition/ Improvement 6,035      
Land and improvements, gross 6,470      
Buildings and improvements, gross 27,049      
Land and improvements and buildings and improvements, gross 33,519      
Accumulated Depreciation $ 12,920      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 63,429      
4600 Bohannon Dr., Menlo Park, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 4,798      
Initial cost, buildings and Improvements 15,406      
Costs Capitalized Subsequent  to Acquisition/ Improvement 5,424      
Land and improvements, gross 4,939      
Buildings and improvements, gross 20,689      
Land and improvements and buildings and improvements, gross 25,628      
Accumulated Depreciation $ 10,692      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 48,413      
4700 Bohannon Dr., Menlo Park, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 6,527      
Initial cost, buildings and Improvements 20,958      
Costs Capitalized Subsequent  to Acquisition/ Improvement 1,576      
Land and improvements, gross 6,470      
Buildings and improvements, gross 22,591      
Land and improvements and buildings and improvements, gross 29,061      
Accumulated Depreciation $ 10,384      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 63,429      
1290 - 1300 Terra Bella Ave., Mountain View, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 28,730      
Initial cost, buildings and Improvements 27,555      
Costs Capitalized Subsequent  to Acquisition/ Improvement 13,522      
Land and improvements, gross 28,730      
Buildings and improvements, gross 41,077      
Land and improvements and buildings and improvements, gross 69,807      
Accumulated Depreciation $ 13,628      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 114,175      
680 E. Middlefield Rd., Mountain View, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 34,755      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 56,759      
Land and improvements, gross 34,755      
Buildings and improvements, gross 56,759      
Land and improvements and buildings and improvements, gross 91,514      
Accumulated Depreciation $ 21,383      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 171,676      
690 E. Middlefield Rd., Mountain View, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 34,605      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 56,515      
Land and improvements, gross 34,605      
Buildings and improvements, gross 56,515      
Land and improvements and buildings and improvements, gross 91,120      
Accumulated Depreciation $ 21,291      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 171,215      
1701 Page Mill Rd., Palo Alto, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 0      
Initial cost, buildings and Improvements 99,522      
Costs Capitalized Subsequent  to Acquisition/ Improvement 117      
Land and improvements, gross 0      
Buildings and improvements, gross 99,639      
Land and improvements and buildings and improvements, gross 99,639      
Accumulated Depreciation $ 27,030      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 128,688      
3150 Porter Dr., Palo Alto, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 0      
Initial cost, buildings and Improvements 21,715      
Costs Capitalized Subsequent  to Acquisition/ Improvement 6,446      
Land and improvements, gross 0      
Buildings and improvements, gross 28,161      
Land and improvements and buildings and improvements, gross 28,161      
Accumulated Depreciation $ 8,888      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 36,886      
900 Jefferson Ave., Redwood City, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 16,668      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 109,784      
Land and improvements, gross 18,063      
Buildings and improvements, gross 108,389      
Land and improvements and buildings and improvements, gross 126,452      
Accumulated Depreciation $ 38,994      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 228,226      
900 Middlefield Rd., Redwood City, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 7,959      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 64,979      
Land and improvements, gross 8,626      
Buildings and improvements, gross 64,312      
Land and improvements and buildings and improvements, gross 72,938      
Accumulated Depreciation $ 19,269      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 119,616      
100 First St., San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 49,150      
Initial cost, buildings and Improvements 131,238      
Costs Capitalized Subsequent  to Acquisition/ Improvement 86,415      
Land and improvements, gross 49,150      
Buildings and improvements, gross 217,653      
Land and improvements and buildings and improvements, gross 266,803      
Accumulated Depreciation $ 125,428      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 480,457      
100 Hooper St., San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 78,564      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 197,034      
Land and improvements, gross 85,510      
Buildings and improvements, gross 190,088      
Land and improvements and buildings and improvements, gross 275,598      
Accumulated Depreciation $ 41,819      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 417,914      
201 Third St., San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 19,260      
Initial cost, buildings and Improvements 84,018      
Costs Capitalized Subsequent  to Acquisition/ Improvement 85,856      
Land and improvements, gross 19,260      
Buildings and improvements, gross 169,874      
Land and improvements and buildings and improvements, gross 189,134      
Accumulated Depreciation $ 109,440      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 355,960      
360 Third St., San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 0      
Initial cost, buildings and Improvements 88,235      
Costs Capitalized Subsequent  to Acquisition/ Improvement 128,912      
Land and improvements, gross 28,504      
Buildings and improvements, gross 188,643      
Land and improvements and buildings and improvements, gross 217,147      
Accumulated Depreciation $ 87,745      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 436,357      
250 Brannan St., San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 7,630      
Initial cost, buildings and Improvements 22,770      
Costs Capitalized Subsequent  to Acquisition/ Improvement 10,797      
Land and improvements, gross 7,630      
Buildings and improvements, gross 33,567      
Land and improvements and buildings and improvements, gross 41,197      
Accumulated Depreciation $ 17,628      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 100,850      
301 Brannan St., San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 5,910      
Initial cost, buildings and Improvements 22,450      
Costs Capitalized Subsequent  to Acquisition/ Improvement 17,817      
Land and improvements, gross 5,910      
Buildings and improvements, gross 40,267      
Land and improvements and buildings and improvements, gross 46,177      
Accumulated Depreciation $ 19,487      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 82,834      
333 Brannan St., San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 18,645      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 80,685      
Land and improvements, gross 18,645      
Buildings and improvements, gross 80,685      
Land and improvements and buildings and improvements, gross 99,330      
Accumulated Depreciation $ 23,730      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 185,602      
345 Brannan St., San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 29,405      
Initial cost, buildings and Improvements 113,179      
Costs Capitalized Subsequent  to Acquisition/ Improvement 1,358      
Land and improvements, gross 29,403      
Buildings and improvements, gross 114,539      
Land and improvements and buildings and improvements, gross 143,942      
Accumulated Depreciation $ 23,665      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 110,050      
303 Second St., San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 63,550      
Initial cost, buildings and Improvements 154,153      
Costs Capitalized Subsequent  to Acquisition/ Improvement 123,735      
Land and improvements, gross 63,550      
Buildings and improvements, gross 277,888      
Land and improvements and buildings and improvements, gross 341,438      
Accumulated Depreciation $ 159,024      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 784,658      
350 Mission St., San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 52,815      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 212,906      
Land and improvements, gross 52,815      
Buildings and improvements, gross 212,906      
Land and improvements and buildings and improvements, gross 265,721      
Accumulated Depreciation $ 64,520      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 455,340      
345 Oyster Point Blvd., South San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 13,745      
Initial cost, buildings and Improvements 18,575      
Costs Capitalized Subsequent  to Acquisition/ Improvement 1      
Land and improvements, gross 13,745      
Buildings and improvements, gross 18,576      
Land and improvements and buildings and improvements, gross 32,321      
Accumulated Depreciation $ 4,504      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 40,410      
347 Oyster Point Blvd., South San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 14,071      
Initial cost, buildings and Improvements 18,289      
Costs Capitalized Subsequent  to Acquisition/ Improvement 44      
Land and improvements, gross 14,071      
Buildings and improvements, gross 18,333      
Land and improvements and buildings and improvements, gross 32,404      
Accumulated Depreciation $ 4,455      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 39,780      
349 Oyster Point Blvd., South San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 23,112      
Initial cost, buildings and Improvements 22,601      
Costs Capitalized Subsequent  to Acquisition/ Improvement 352      
Land and improvements, gross 23,112      
Buildings and improvements, gross 22,953      
Land and improvements and buildings and improvements, gross 46,065      
Accumulated Depreciation $ 6,824      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 65,340      
350 Oyster Point Blvd., South San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 23,719      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 177,047      
Land and improvements, gross 23,719      
Buildings and improvements, gross 177,047      
Land and improvements and buildings and improvements, gross 200,766      
Accumulated Depreciation $ 22,614      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 234,892      
352 Oyster Point Blvd., South San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 23,449      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 165,524      
Land and improvements, gross 23,449      
Buildings and improvements, gross 165,524      
Land and improvements and buildings and improvements, gross 188,973      
Accumulated Depreciation $ 23,061      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 232,215      
354 Oyster Point Blvd., South San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 19,538      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 141,063      
Land and improvements, gross 19,538      
Buildings and improvements, gross 141,063      
Land and improvements and buildings and improvements, gross 160,601      
Accumulated Depreciation $ 22,126      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 193,472      
Oyster Point Blvd South San Francisco CA Seven        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 0      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 0      
Land and improvements, gross 0      
Buildings and improvements, gross 0      
Land and improvements and buildings and improvements, gross 0      
Accumulated Depreciation $ 62      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 0      
10900 NE 4th St., Bellevue, WA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 25,080      
Initial cost, buildings and Improvements 150,877      
Costs Capitalized Subsequent  to Acquisition/ Improvement 66,352      
Land and improvements, gross 25,080      
Buildings and improvements, gross 217,229      
Land and improvements and buildings and improvements, gross 242,309      
Accumulated Depreciation $ 106,671      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 428,557      
601 108th Ave., Bellevue, WA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 0      
Initial cost, buildings and Improvements 214,095      
Costs Capitalized Subsequent  to Acquisition/ Improvement 99,439      
Land and improvements, gross 42,680      
Buildings and improvements, gross 270,854      
Land and improvements and buildings and improvements, gross 313,534      
Accumulated Depreciation $ 136,292      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 490,738      
2001 8th Ave., Seattle, WA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 84,076      
Initial cost, buildings and Improvements 371,154      
Costs Capitalized Subsequent  to Acquisition/ Improvement 36,691      
Land and improvements, gross 84,076      
Buildings and improvements, gross 407,845      
Land and improvements and buildings and improvements, gross 491,921      
Accumulated Depreciation $ 53,879      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 535,395      
320 Westlake Ave. North, Seattle, WA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 14,710      
Initial cost, buildings and Improvements 82,018      
Costs Capitalized Subsequent  to Acquisition/ Improvement 16,653      
Land and improvements, gross 14,710      
Buildings and improvements, gross 98,671      
Land and improvements and buildings and improvements, gross 113,381      
Accumulated Depreciation $ 41,086      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 184,644      
321 Terry Ave. North, Seattle, WA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 10,430      
Initial cost, buildings and Improvements 60,003      
Costs Capitalized Subsequent  to Acquisition/ Improvement 11,066      
Land and improvements, gross 10,430      
Buildings and improvements, gross 71,069      
Land and improvements and buildings and improvements, gross 81,499      
Accumulated Depreciation $ 30,777      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 135,755      
401 Terry Ave. North, Seattle, WA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 22,500      
Initial cost, buildings and Improvements 77,046      
Costs Capitalized Subsequent  to Acquisition/ Improvement 235      
Land and improvements, gross 22,500      
Buildings and improvements, gross 77,281      
Land and improvements and buildings and improvements, gross 99,781      
Accumulated Depreciation $ 28,806      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 174,530      
333 Dexter Ave. North, Seattle, WA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 42,854      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 328,064      
Land and improvements, gross 42,854      
Buildings and improvements, gross 328,064      
Land and improvements and buildings and improvements, gross 370,918      
Accumulated Depreciation $ 48,068      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 618,766      
701 N. 34th St., Seattle, WA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 0      
Initial cost, buildings and Improvements 48,027      
Costs Capitalized Subsequent  to Acquisition/ Improvement 16,696      
Land and improvements, gross 0      
Buildings and improvements, gross 64,723      
Land and improvements and buildings and improvements, gross 64,723      
Accumulated Depreciation $ 28,986      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 143,136      
801 N. 34th St., Seattle, WA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 0      
Initial cost, buildings and Improvements 58,537      
Costs Capitalized Subsequent  to Acquisition/ Improvement 23,925      
Land and improvements, gross 0      
Buildings and improvements, gross 82,462      
Land and improvements and buildings and improvements, gross 82,462      
Accumulated Depreciation $ 37,188      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 173,615      
837 N. 34th St., Seattle, WA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 0      
Initial cost, buildings and Improvements 37,404      
Costs Capitalized Subsequent  to Acquisition/ Improvement 8,619      
Land and improvements, gross 0      
Buildings and improvements, gross 46,023      
Land and improvements and buildings and improvements, gross 46,023      
Accumulated Depreciation $ 21,410      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 112,487      
200 W. 6th St., Austin, TX        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 0      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 664,974      
Land and improvements, gross 0      
Buildings and improvements, gross 664,974      
Land and improvements and buildings and improvements, gross 664,974      
Accumulated Depreciation $ 60,117      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 758,975      
1550 N. El Centro Avenue, Los Angeles, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 16,970      
Initial cost, buildings and Improvements 39      
Costs Capitalized Subsequent  to Acquisition/ Improvement 139,686      
Land and improvements, gross 16,970      
Buildings and improvements, gross 139,725      
Land and improvements and buildings and improvements, gross 156,695      
Accumulated Depreciation $ 38,230      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 0      
6390 De Longpre Ave., Los Angeles, CA (5)        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 12,112      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 162,693      
Land and improvements, gross 12,112      
Buildings and improvements, gross 162,693      
Land and improvements and buildings and improvements, gross 174,805      
Accumulated Depreciation $ 22,108      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 0      
3200 Paseo Village Way, San Diego, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, land and improvements $ 106,419      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 272,319      
Land and improvements, gross 106,419      
Buildings and improvements, gross 272,319      
Land and improvements and buildings and improvements, gross 378,738      
Accumulated Depreciation $ 46,203      
Depreciation life 35 years      
Rentable square feet (unaudited) | ft² 0      
Office Building        
Real Estate and Accumulated Depreciation [Line Items]        
Unamortized deferred financing costs $ (7,800)      
Office Building | El Camino Real, San Diego, California Eight        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, encumbrances 375,000      
Office Building | 100 Hooper St., San Francisco, CA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, encumbrances 148,815      
Office Building | 320 Westlake Ave. North, WA and 321 Terry Avenue North, Lake Union, WA        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, encumbrances $ 76,627      
Office Building | Sunset Blvd., Gower St. and El Centro Ave. Properties in Los Angeles        
Real Estate and Accumulated Depreciation [Line Items]        
Number of buildings | property 5      
Operating Properties        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, encumbrances $ 600,442      
Initial cost, land and improvements 1,550,535      
Initial cost, buildings and Improvements 3,163,966      
Costs Capitalized Subsequent  to Acquisition/ Improvement 5,432,898      
Land and improvements, gross 1,641,913      
Buildings and improvements, gross 8,505,486      
Land and improvements and buildings and improvements, gross 10,147,399      
Accumulated Depreciation $ 2,843,811      
Rentable square feet (unaudited) | ft² 16,292,164      
Undeveloped land and construction in progress        
Real Estate and Accumulated Depreciation [Line Items]        
Initial cost, encumbrances $ 0      
Initial cost, land and improvements 787,640      
Initial cost, buildings and Improvements 0      
Costs Capitalized Subsequent  to Acquisition/ Improvement 1,600,102      
Land and improvements, gross 787,640      
Buildings and improvements, gross 1,600,102      
Land and improvements and buildings and improvements, gross 2,387,742      
Accumulated Depreciation $ 0      
Rentable square feet (unaudited) | ft² 0      
Residential Tower | Sunset Blvd., Gower St. and El Centro Ave. Properties in Los Angeles        
Real Estate and Accumulated Depreciation [Line Items]        
Number of buildings | property 1      
v3.25.4
Schedule III - Real Estate and Accumulated Depreciation - Narrative (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
property
Dec. 31, 2024
USD ($)
Real Estate and Accumulated Depreciation [Line Items]    
Deferred financing costs, net $ 9,150 $ 12,692
Investment in real estate, federal Income tax basis 10,600,000  
Kilroy Realty L.P.    
Real Estate and Accumulated Depreciation [Line Items]    
Long-term debt, gross 4,625,442  
Kilroy Realty L.P. | Secured debt    
Real Estate and Accumulated Depreciation [Line Items]    
Deferred financing costs, net 7,757 8,489
3.57% Mortgage Payable due December 2026 | Kilroy Realty L.P.    
Real Estate and Accumulated Depreciation [Line Items]    
Long-term debt, gross 148,800  
3.57% Mortgage Payable due December 2026 | Kilroy Realty L.P. | Secured debt    
Real Estate and Accumulated Depreciation [Line Items]    
Long-term debt, gross 148,815 152,668
4.48% Mortgage Payable due July 2027 | Kilroy Realty L.P. | Secured debt    
Real Estate and Accumulated Depreciation [Line Items]    
Long-term debt, gross 76,627 79,020
5.90% Mortgage Payable due August 2034 | Kilroy Realty L.P.    
Real Estate and Accumulated Depreciation [Line Items]    
Long-term debt, gross 375,000  
5.90% Mortgage Payable due August 2034 | Kilroy Realty L.P. | Secured debt    
Real Estate and Accumulated Depreciation [Line Items]    
Long-term debt, gross 375,000 $ 375,000
Office Building    
Real Estate and Accumulated Depreciation [Line Items]    
Deferred financing costs, net $ 7,800  
Office Building | Sunset Blvd., Gower St. and El Centro Ave. Properties in Los Angeles    
Real Estate and Accumulated Depreciation [Line Items]    
Number of buildings | property 5  
Residential Tower | Sunset Blvd., Gower St. and El Centro Ave. Properties in Los Angeles    
Real Estate and Accumulated Depreciation [Line Items]    
Number of buildings | property 1  
Building    
Real Estate and Accumulated Depreciation [Line Items]    
Depreciation life 35 years  
Tenant Improvements | Minimum    
Real Estate and Accumulated Depreciation [Line Items]    
Property depreciable lives 1 year  
Tenant Improvements | Maximum    
Real Estate and Accumulated Depreciation [Line Items]    
Property depreciable lives 20 years  
v3.25.4
Schedule III - Real Estate and Accumulated Depreciation - Historical Cost Real Estate Reconciliation (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]      
Total real estate held for investment, beginning of year $ 12,659,195 $ 12,241,648 $ 11,732,183
Acquisitions 338,678 21,941 0
Improvements, etc.   249,704 400,880 511,866
Total additions during period 588,382 422,821 511,866
Cost of real estate sold (483,776) 0 0
Properties held for sale 221,693 0 0
Other (6,967) (5,274) (2,401)
Total deductions during period (712,436) (5,274) (2,401)
Total real estate held for investment, end of year $ 12,535,141 $ 12,659,195 $ 12,241,648
v3.25.4
Schedule III - Real Estate and Accumulated Depreciation - Accumulated Depreciation Reconciliation (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]      
Accumulated depreciation, beginning of year $ 2,824,616 $ 2,518,304 $ 2,218,710
Depreciation of real estate 305,751 307,967 300,119
Total additions during period 305,751 307,967 300,119
Write-offs due to sale (166,696) 0 0
Properties held for sale (116,693) 0 0
Other (3,167) (1,655) (525)
Total deductions during period (286,556) (1,655) (525)
Accumulated depreciation, end of year $ 2,843,811 $ 2,824,616 $ 2,518,304