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Kilroy Realty Corporation Announces Acquisition of Maple Plaza in Beverly Hills

1. Kilroy Realty acquired Maple Plaza in Beverly Hills for $205 million. 2. The acquisition signifies expansion in a low-vacancy, high-demand area.

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+0.36%Current Return
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-0.27%S&P 500
$44.2809/18 12:52 PM EDTEvent Start
$44.4409/19 03:40 AM EDTLatest Updated
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FAQ

Why Bullish?

This acquisition reflects Kilroy's strategic move in a prime market, typically enhancing long-term value. Historically, similar acquisitions have positively influenced stock performance due to increased asset portfolios.

How important is it?

The acquisition enhances Kilroy's asset base and market presence, which are crucial in a competitive landscape. A sound investment in a low-supply market might lead to positive stock price adjustments.

Why Long Term?

Expanding into a low-vacancy area suggests future rental opportunities and revenue growth, aligning with long-term investment strategies.

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VNOSLGARE
LOS ANGELES--(BUSINESS WIRE)--Kilroy Realty Corporation (NYSE: KRC) (“Kilroy” or the “Company”) announced today that it has acquired Maple Plaza, a 293,000-square-foot Class A office campus in the iconic Beverly Hills submarket of Los Angeles, for $205 million. The acquisition was funded with cash on hand and recent disposition proceeds. This marks Kilroy's first acquisition in Beverly Hills, a supply-constrained submarket that has among the lowest vacancy rates in the Greater Los Angeles marke.

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