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Size, location and quality are all important measures of a real
estate portfolio and its long-term value. But a real estate enterprise
is judged first by the strength of its management skills. And so
it should be. Effective management can significantly enhance the
value of a portfolios assets over time, optimizing returns
in strong markets, protecting them from erosion in weak markets.
Last year, Kilroy Realty capitalized on strong conditions in Southern
California commercial real estate markets to improve the overall
quality of the companys portfolio and redeploy invested capital
for higher returns. KRC invested $203 million to complete and stabilize
nine new office properties with an aggregate 1.0 million square
feet of space located in the regions strongest submarkets.
The development was financed, in part, with the disposition of $114
million of non-strategic assets totaling 957,000 square feet of
space.
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