And any color on the likelihood of renewal or move out at that space? If we were to exclude this lease, spreads would have been up approximately 8% on a cash basis. I mean that's a classic case of an older building that fit a company's needs beautifully. And in terms of your top tenants with expirations in '24 and '25, do you see any early termination risk? The estimated Net Worth of John B Jr Kilroy is at least $15 Milln dollars as of 2 May 2020. These types of hybrid companies are in their infancy and have yet to totally mature. In terms of price discovery until there's some really - some volume of transactions Camille, I just think it's -- you kind of guess. . Well, at the Board level, we talked about this a lot. The estimated Net Worth of John B Jr Kilroy is at least $14.8 Million dollars as of 2 May 2020. Our earnings release and supplemental package have been filed on a Form 8-K with the SEC, and both are also available on our website. The next question comes from Dylan Burzinski of Green Street. And I think that, that's a testament to what John said in his prepared remarks that we're just seeing better physical occupancy. Hi, guys. Jordan Kaplans $8.7 million compensation package for fiscal 2017 was composed of a base salary of $1 million, stock awards of approximately $7.7 million and other compensation of $32,490, according to the most recent SEC filings. David Neithercuts overall take-home pay in 2017 was $8.67 million. Now let's discuss our 2023 guidance. John Kilroy Net Worth The estimated Net Worth of John B Jr Kilroy is at least Kilroy Realty stock worth over $510,840 and over the last 19 years he sold KRC stock That rebalance is underway, and it's going to take time to settle out. John? Kilroy Realty Corporation (NYSE:KRC) Q1 2023 Earnings Conference Call April 27, 2023 1:00 PM ET, Bill Hutcheson - SVP, IR and Capital Markets, Rob Paratte - EVP, Leasing and Business Development, Good afternoon, and thank you for attending today's Kilroy Realty Corporation First Quarter 2023 Earnings Conference Call. John Kilroy Net Worth The estimated Net Worth of John B Sr Kilroy is at least Kilroy Realty stock worth over $287,197 and over the last 19 years he sold KRC stock worth over $0. But we think it's very marketable and we - because we haven't started TIs and that sort of thing, we can go either way. In 2016, he raked in a mere $425 million, down from the $734.2 million he received in 2015. Audric Kilroy, Barbara Kilroy, John Kilroy, Barbara Kilroy and Mary Kilroy, and many others are family members and associates of John. and Heidi R. Roth, See Remarks John T Kilroy, 74 years old, born in Jul 1948. But sometimes, I overruled them and I would come up on deck and I could tell it made him feel a little bit on edgy because kind of to have two captains on deck at the same time. And it's always kind of a better swing, what's a great time to leave. We noticed the right games upcoming lease expiration increased in size by about 30,000 square feet. John B. Kilroy, Jr.'s largest purchase order was 300,000 units , worth over The estimated Net Worth of John B Jr Kilroy is at least $14.8 Million dollars as of 2 May 2020. The oldest executive at Kilroy Realty Corp. is John B. Kilroy Jr., 72, who is the CEO & Chairman. I was wondering if you could discuss how involved you plan to be going forward with Kilroy, if you plan to remain as Chairman? But you have 2 years left on your loan. That makes it much more efficient for the tenant. There are 1 older and 16 younger executives at Kilroy Realty. John Osmond who sold, In the last 17 years, insiders at Kilroy Realty Corp have sold an estimated value of, Mailing address is 12200 W Olympic Blvd Suite 200 Los Angeles CA 90064 CA. And Blaine, this is Rob. In January, the company sold a Downtown apartment building in L.A. for $220 million and continued construction of a new 200-unit apartment building in Hollywood that will include 4,700 square feet of ground floor retail space, a gym, swimming pool and roof deck. You can see the complete history of Mr. Kilroy stock trades at the bottom of the page. These numbers are only guesses and should not be considered to be accurate. The widespread return to office announcements from top tech firms have translated to noticeable increases in physical occupancy in our San Francisco portfolio, and we expect this trend to continue. First of all, just to remind everyone, we have three buildings, about 863,000 square feet under construction. Okay. Curious to get your latest thoughts on the transaction market and views on pricing for office. We enhanced the quality of our assets and pursue product expansion in new high-growth markets, creating significant value for our shareholders. So that's where we stand today versus then we have no future growth assumed in that number. Let me touch on a few things. So it could actually really go the other way where it helps more innovation, more company growth, et cetera. Thank you [Operator Instructions] The next question comes from the line of Caitlin Burrows of Goldman Sachs. Yes, Blaine, this is Elliott. I might point out that I didn't in my comments, this is John speaking, by the way, is that we've been exceeding our pro forma rents quite substantially there. We are comprised of a team of digital learning specialists with a passion for helping professionals reach their potential through digital learning design courses. That completes my remarks, and I'll turn it over to Elliot. Positioning our assets to be top-tier choices when the time comes for tenants to making leasing decision is another important focus. One of the problems with the sublease space and that's not to say that these things are positive. The lobby was totally full. According to the National Multifamily Housing Council, Equity Residential is the third-largest apartment owner in the U.S., with investment in or ownership of 307 properties consisting of 79,482 apartment units across the country. Caitlin, it's Elliot. While the company no longer discloses dividend payments on the particular class of stock owned by Schwarzman, Reuters did an estimate based on a $2.15 per common unit payout that put Schwarzmans dividend payment for 2018 at approximately $500 million and thats a lowball guess, since his class of stock has historically been higher than the common unit. And lastly, as I'm sure you all saw, last month, I announced my retirement effective at the end of the year. And any characteristics you could share as far as your preference for a successor? And it's the ultimate in collaboration -- so I'm available, but I'm pretty confident. Wallmine is a radically better financial terminal. And I ask that in the context of trying to understand what your watch list looks like today, just kind of given some of the incremental challenges in the tech and biotech industries right now. Please proceed. And so -- having gone through this for a long time in my life, I'd always say that more availability is not generally a good thing unless you're a tenant. Kilroy Realty executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. And that sublease space, again, is characterized, some of it's very usable. I don't know, I'm Chairman for now. Thank you. We do have some move-ins. Before discussing guidance, I wanted to point out some additional disclosure in our supplemental on Pages 14 through 16, we point out the 4 properties not in the same-store pool. For the remainder of the year, Rob, I think you talked about a little bit in the prepared remarks, but any additional color around leasing activity would be helpful. We may find some great candidates externally, in order for that process to go about efficiently, it means that we want our senior management team to be involved in and whatnot. Mr. Kilroy owns over 6,006 units of Kilroy Realty stockworth over Yes. In 2018, however, Elliman was deeply affected by the overall slowdown in the residential market and saw a decrease in profits of 75 percent. This is Rob Paratte. In terms of sequencing throughout the year, the second quarter will be higher than the third and fourth quarters given one month of Amazon and the projected timing of drawing down the balance of the term loan. Of those 152, 120 of them are active and 32 of those are pending, meaning they're in close to getting a lease executed. Well, that's exactly what's happened over the last 20 years. I think that's a good question. We are doing some upgrades. And then Riot [ph] which is still TBD is a fourth quarter expiration. Somebody's smarter than me. And what would be the reason to do that? Well, this is John. I mean it's breathtaking. John Kilroy is 71, he's been the Chairman of the Board and Chief Executive Officer of Kilroy Realty since 2020. He is a past trustee of the El Segundo Employers Association, Viewpoint School, Jefferson Center for Character Education and the National Fitness Foundation. Just a quick follow-up on Seattle. And if you think about the difference between then and now, we've had rent bumps in our leases, and we've signed leases that in the large part, we're rolling up. So you're just going to keep seeing that trend. But we're going to do well and there are other tenants in the market. And the reality is that you can -- unless you have a specific individual that you have designated to be internally or externally for the person, you can wait. Not known Robert's mother Rose remarried in 1946, to family friend John Francis Kilroy, a car worker at the Rootes plant in Warwickshire. John Kilroy Jr., who has been at the helm of office landlord Kilroy Realty since the early 1990s, will step down by the end of the year. The utilization rates have gone up quite a bit. To bridge the gap on the $0.16, we subtract a net $0.10 due to lower 2023 occupancy, which factors in our move-outs and move-ins including our West 8th move-out in Seattle which is effective at the end of April. As a reminder, Life Science will make up more than 20% of our NOI after KOP Phase 2 delivers. Hello, everyone, and thanks for joining us. Tyler H Rose, President, So I would summarize to say we're really happy with where we are, both in terms of rents, lease-up and what we have in the pipeline. And then Elliott will discuss our financial results and provide you with our updated guidance. The next question comes from Camille Bonnel of Bank of America. There has been a reduction of liquidity in the investment sales market, downward pressure on leasing fundamentals as tenants delay space requirement decisions and a pullback in financing and investment activity within the banking and venture capital community. We have some great candidates internally. Do you see a scenario playing out where we actually start to see pressure on face rents in 2023? Austin, our building is brand-new and all the leases that either just started or will start when the tenant improvements are done, and there's no termination right. John has made over 13 trades of the Kilroy Realty stock since 2003, according to the Form 4 filled with the SEC. Please proceed. [Operator Instructions] The first question comes from Nick Yulico of Scotiabank. But I want to point that out just because people have a sense that everyone is sitting on the sidelines, and that's -- that's not the case. Or if something like that, it's almost ready to move in is attractive to tenants in the marketplace today? We still have a bunch of other problems. And as things sort of sort themselves out, we think that there'll be a much better functioning debt market, which will help the buyer market. As I previously mentioned, development spend for the remainder of the year is expected to be $325 million to $425 million. You're going to two or one, two or three, and you want to make sure that you've got the presence, whether it's your outside areas, your lobby areas, your common areas, if you have conference centers or gyms or things like that, you really want to present yourself well so people could see that it's a plug and play, and that's what we do really well. Coleman founded the private real estate investment firm Hudson Capital, the predecessor to HPP. Great. But if you have to have an asset that is like a lot of stuff in some of the cities that was built back in the '60s and '70s with lower ceiling heights and lousy elevators and you really can't improve things. Just a couple of quick ones for me. The most recent stock trade was executed by Dale F Kinsella on 2 February 2005, trading 5,000 units of KRC stock currently worth $101,900. Bill, you may now proceed. As regards to my continued involvement. John Kilroy Net Worth The estimated Net Worth of John B Jr Kilroy is at least Kilroy Realty stock worth over $327,402 and over the last 19 years he sold KRC stock worth over $2,461,939. With the current situation with SVB and just the general economy, decision-making has slowed down, no doubt. I mean the reality is sublease space is a bit tricky. Has you consider asset sales just to raise some more liquidity as maybe the NOI gets delayed there? And I can tell you, at Kilroy, we feel exactly the same way. I don't know, but everything I hear is it's going to be huge. There are currently no additional questions registered at this time. However, last year was a tough one for Realogy, as it was for many industry players, with fourth-quarter revenue at the company down $90 million from the year prior. If there are 20 choices in the market or there may be more, we intend to be one of the top three. There's nothing that doesn't get out today. And so I can't really comment without specifics. Maintaining a strong balance sheet and opportunistically evaluating alternative sources of capital to further enhance our already significant liquidity position, providing certainty to our tenant base in today's environment. My name is Danielle, and I will be the moderator for today's call. So depending upon a particular building, not just the quality of it, but the structure of the lease that the primary tenant has with the landlord, it can trip people up. Dylan, this is Elliot. Our floors are 44,000 feet. That's helpful. Our portfolio is young and modern comprised of high-quality, well-located assets that we believe will prove to be resilient over time. The acceleration of technological advances within the Life Science space is creating breakthroughs. We have about -- and this is available sublease space in our entire portfolio. But that kind of remains to be seen. The retail or the restaurant situation there, we've come to - we haven't completed the documentation, but we've come to a deal with one of the best restaurant operators. I think what's going to happen is back office kind of things are going to be decimated. And on a separate topic, it was touched on a bit earlier around the subway space you see in the market. But every time there is a bank crisis or whatever, people just say, well, let's go get some more authorities. Now that's down obviously from the high end 2019 where that might have been 8 million square feet. Was the parking income higher than your original expectations this quarter? Late last year, Equity Residential made a long-term investment in going green. In the last 18 years at Kilroy Realty Corp, John B. Kilroy, Jr. has sold an estimated value of $132.14M worth. And I'd finish with this point, which for quite a few years, Hollywood had very muted activity in terms of leasing. But any time people don't proceed with new development generally is good for existing product, right. As John mentioned in his remarks, our liquidity remains strong at $1.6 billion, which is comprised of $330 million in cash, $170 million in future term loan proceeds and $1.1 billion of capacity on our line of credit. WebTaking into account various assets, John's net worth is greater than $100,000 - $249,999; and makes between $90 - 99,999 a year. And it's going to be, I think, materially -- and I think there's another quantum jump ready to occur over the next three months or so with the big announcements like Amazon up in Seattle and some of the others in the Bay Area of getting back to work. WebGene Kilroy Net Worth is $400,000 Mini Biography Gene Kilroy can be an acting professional, known for We Am Ali (2014), Ali-Frazier We: One Country Divisible (2000) and In This Part Boxings Legendary Heavyweights (1992). But I guess I'm just wondering the consideration to make that announcement before lining up the successor? John will start the call with our first quarter highlights. That completes my remarks. And - there definitely is a - I think it's a very healthy view coming out, which is we don't need to own everything ourselves. So this is Elliott. The next question comes from Tayo Okusanya of Credit Suisse.