Quarterly ResultApr 28, 2026, 05:22 PM
KRC Q1 Net Loss $(19.3)M; $61.8M Impairment Charge
AI Summary
KILROY REALTY CORP reported a net loss of $(19.3) million for Q1 2026, a significant decline from a net income of $39.0 million in Q1 2025. This loss was primarily driven by a $61.8 million impairment charge on two residential properties classified as held for sale, which were subsequently sold in April for $202.0 million. The company also generated $23.5 million in gains from the sale of four operating properties for a gross sales price of $145.5 million. Operating cash flow improved to $150.7 million, and the company maintained $1.1 billion in available borrowing capacity.
Key Highlights
- Q1 2026 net loss available to common stockholders was $(19.3)M.
- Recognized $61.8M impairment charge on two residential properties held for sale.
- Generated $23.5M gain on sales of four operating properties for $145.5M.
- Net cash provided by operating activities increased to $150.7M.
- Total real estate assets held for investment, net, decreased to $9.47B.
- Total liabilities were $5.29B as of March 31, 2026.
- Maintained $1.1B remaining borrowing capacity on unsecured revolving credit facility.
- Stabilized office and life science portfolio was 77.6% occupied.