---
schema_version: "secwatch.filing_event.v1"
accession: "0001025996-23-000172"
form_type: "8-K"
ticker: "KRC"
cik: "0001025996"
company_name: "KILROY REALTY CORP"
filed_at: "2023-07-26T23:59:59+00:00"
generated_at: "2026-06-13T02:09:15.543428+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Kilroy Realty obtains $375M mortgage loan at 5.90% secured by One Paseo campus

## Summary
- Borrowed $375M from New York Life Insurance, secured by One Paseo mixed-use campus in Del Mar, CA.
- Loan matures Aug 10, 2034; fixed interest rate 5.90%; monthly interest-only payments starting Sept 10, 2023.
- Proceeds for general corporate purposes, including development and repaying a portion of 3.450% Senior Notes due 2024.
- Loan is non-recourse with customary carve-outs; includes transfer restrictions and financial covenants.

## SEC filing metadata
- accession: 0001025996-23-000172
- form_type: 8-K
- ticker: KRC
- cik: 0001025996
- company_name: KILROY REALTY CORP
- filed_at: 2023-07-26T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1025996/000102599623000172/0001025996-23-000172-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1025996/000102599623000172/krc-20230720.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001025996-23-000172
- JSON: https://secwatch.observer/filing/0001025996-23-000172.json
- Plain text: https://secwatch.observer/filing/0001025996-23-000172.txt

## Key facts
- Debt Financings
  KILROY REALTY CORP incurred mortgage of $375,000,000 with New York Life Insurance Company at 5.90% maturing August 10, 2034.
  - Instrument: mortgage
  - Principal: $375,000,000
  - Counterparty: New York Life Insurance Company
  - Rate: 5.90%
  - Maturity: August 10, 2034
  - Event: incurrence
  source text: On July 20, 2023, certain subsidiaries (collectively, the “Borrowers”) of Kilroy Realty Corporation (the “Company”) and Kilroy Realty, L.P. (the “Operating Partnership”) entered into a mortgage loan transaction (the “Loan”) pursuant to which New York Life Insurance Company (the “Lender”) provided financing in the principal amount of $375,000,000 secured by, among other things, a deed of trust, assignment of leases and rents, security agreement and fixture filing (the “Deed of Trust”), as modified by a side letter (the “Side Letter”), encumbering two office buildings, 608 apartment units and over 95,000 square feet of retail at the Company’s One Paseo mixed-use campus in Del Mar, California (the “Property”). The Loan is evidenced by a Promissory Note (the “Note”), which matures on August 10, 2034, bears interest at an annual rate of 5.90% and requires monthly interest payments only, commencing on September 10, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1025996/000102599623000172/0001025996-23-000172-index.htm
- Material Agreements
  KILROY REALTY CORP entered into Loan with New York Life Insurance Company valued at $375,000,000 (effective 2023-07-20).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: New York Life Insurance Company
  - Value: $375,000,000
  - Effective: 2023-07-20
  source text: On July 20, 2023, certain subsidiaries (collectively, the “Borrowers”) of Kilroy Realty Corporation (the “Company”) and Kilroy Realty, L.P. (the “Operating Partnership”) entered into a mortgage loan transaction (the “Loan”) pursuant to which New York Life Insurance Company (the “Lender”) provided financing in the principal amount of $375,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1025996/000102599623000172/0001025996-23-000172-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.