Kilroy Realty has raised $204 million in a public offering of common stock. The real estate firm has sold a total of 4.5 million of shares in the offering. The company seeks to use the proceeds from the offering to finance a $100 million purchase price for four office buildings in Washington.
Kilroy will also use the remaining net proceeds for general corporate purposes. BofA Merrill Lynch, Barclays Capital and JP Morgan, which are the joint bookrunning managers on the sale, may be granted a 30-day option to purchase up to 675,000 additional shares of common stock to cover overallotments.
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