Steve Rosetta Joins Kilroy Realty as Chief Investment Officer
June 15 2017 - 4:07PM
Business Wire
Kilroy Realty Corporation (NYSE: KRC) announced today
that it has appointed Steve Rosetta as Executive Vice President and
Chief Investment Officer. Mr. Rosetta, nationally and
internationally recognized for his extensive transactional
experience, will be responsible for overseeing the company’s
strategic growth, including acquisition and disposition activities,
with a specific focus on the company’s development opportunities
and large office and life science transactions.
Mr. Rosetta joins Kilroy Realty from Cushman & Wakefield
where he most recently served as a Vice Chairman and was a member
of the Global Advisory Board. During his tenure at Cushman &
Wakefield, from September 1996 to June 2017, he held various senior
leadership roles and successfully led several strategic growth
objectives for the firm, including the acquisition and integration
of Burnham Real Estate in 2007. Mr. Rosetta has negotiated numerous
large complex transactions from acquisitions to ground up
developments as well as lease and sales transactions. He holds a
Master’s degree in Real Estate Development from the University of
Southern California.
“Steve is a proven deal maker and brings an excellent track
record of identifying and executing complex transactions through
diligent pursuit, creative structuring and disciplined evaluation,”
said John Kilroy, Chairman and Chief Executive Officer of Kilroy
Realty. “He is an expert in both office and life science, which
matches up extremely well with our growth strategies.”
“KRC has an amazing brand, iconic properties, and a strong
balance sheet,” said Steve Rosetta. “I am excited for the
opportunity to be a part of and work with the Kilroy team.”
About Kilroy Realty Corporation. Kilroy Realty
Corporation (KRC), a publicly traded real estate investment trust
and member of the S&P MidCap 400 Index, is one of the West
Coast’s premier landlords. The company has over 70 years of
experience developing, acquiring and managing office and mixed-use
real estate assets. The company provides physical work environments
that foster creativity and productivity and serves a broad roster
of dynamic, innovation-driven tenants, including technology,
entertainment, digital media and health care companies.
At March 31, 2017, the company’s stabilized portfolio
totaled approximately 14.4 million square feet of office space
and 200 residential units located in the coastal regions of Los
Angeles, Orange County, San Diego, the San Francisco Bay Area and
Greater Seattle. In addition, KRC had two office projects totaling
approximately 1.2 million square feet, 237 residential units and
96,000 square feet of retail space under construction.
The company is recognized by GRESB as the North American leader
in sustainability and was ranked first among 178 North American
participants across all asset types. At the end of the first
quarter, the company’s stabilized portfolio was 52% LEED certified
and 71% of eligible properties were ENERGY STAR certified. More
information is available at http://www.kilroyrealty.com.
Forward-Looking Statements. This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements are based on our current expectations, beliefs and
assumptions, and are not guarantees of future performance.
Forward-looking statements are inherently subject to uncertainties,
risks, changes in circumstances, trends and factors that are
difficult to predict, many of which are outside of our control.
Accordingly, actual performance, results and events may vary
materially from those indicated in the forward-looking statements,
and you should not rely on the forward-looking statements as
predictions of future performance, results or events. Numerous
factors could cause actual future performance, results and events
to differ materially from those indicated in the forward-looking
statements, including, among others: global market and general
economic conditions and their effect on our liquidity and financial
conditions and those of our tenants; adverse economic or real
estate conditions generally, and specifically, in the States of
California and Washington; risks associated with our investment in
real estate assets, which are illiquid, and with trends in the real
estate industry; defaults on or non-renewal of leases by tenants;
any significant downturn in tenants’ businesses; our ability to
re-lease property at or above current market rates; costs to comply
with government regulations, including environmental remediation;
the availability of cash for distribution and debt service and
exposure to risk of default under debt obligations; increases in
interest rates and our ability to manage interest rate exposure;
the availability of financing on attractive terms or at all, which
may adversely impact our future interest expense and our ability to
pursue development, redevelopment and acquisition opportunities and
refinance existing debt; a decline in real estate asset valuations,
which may limit our ability to dispose of assets at attractive
prices or obtain or maintain debt financing, and which may result
in write-offs or impairment charges; significant competition, which
may decrease the occupancy and rental rates of properties;
potential losses that may not be covered by insurance; the ability
to successfully complete acquisitions and dispositions on announced
terms; the ability to successfully operate acquired, developed and
redeveloped properties; the ability to successfully complete
development and redevelopment projects on schedule and within
budgeted amounts; delays or refusals in obtaining all necessary
zoning, land use and other required entitlements, governmental
permits and authorizations for our development and redevelopment
properties; increases in anticipated capital expenditures, tenant
improvement and/or leasing costs; defaults on leases for land on
which some of our properties are located; adverse changes to, or
implementations of, applicable laws, regulations or legislation;
risks associated with joint venture investments, including our lack
of sole decision-making authority, our reliance on co-venturers’
financial condition and disputes between us and our co-venturers;
environmental uncertainties and risks related to natural disasters;
and our ability to maintain our status as a REIT. These factors are
not exhaustive and additional factors could adversely affect our
business and financial performance. For a discussion of additional
factors that could materially adversely affect our business and
financial performance, see the factors included under the caption
“Risk Factors” in our annual report on Form 10-K for the year
ended December 31, 2016 and our other filings with the
Securities and Exchange Commission. All forward-looking statements
are based on currently available information, and speak only as of
the date on which they are made. We assume no obligation to update
any forward-looking statement made in this press release that
becomes untrue because of subsequent events, new information or
otherwise, except to the extent we are required to do so in
connection with our ongoing requirements under federal securities
laws.
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version on businesswire.com: http://www.businesswire.com/news/home/20170615006231/en/
Kilroy Realty CorporationTyler H. RoseExecutive Vice President
and Chief Financial Officer(310) 481-8484orMichelle NgoSenior Vice
President and Treasurer(310) 481-8581
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