PROSPECTUS
KILROY REALTY CORPORATION
Common Stock, Preferred Stock, Depositary Shares, Warrants and Guarantees
KILROY REALTY, L.P.
Debt Securities
We may offer
from time to time in one or more series or classes (i) debt securities of Kilroy Realty, L.P. which may be fully and unconditionally guaranteed by Kilroy Realty Corporation, (ii) shares of Kilroy Realty Corporations common stock, par
value $.01 per share, (iii) shares or fractional shares of Kilroy Realty Corporations preferred stock, par value $0.01 per share, (iv) depositary shares representing fractional or multiple shares of Kilroy Realty Corporations
preferred stock and (v) warrants to purchase preferred stock or common stock, referred to collectively in this prospectus as the offered securities, separately or together, in separate series in amounts, at prices and on terms to be set forth
in one or more supplements to this prospectus.
The specific terms of the offered securities with respect to which this prospectus is
being delivered will be set forth in the applicable prospectus supplement, along with any applicable modifications of or additions to the general terms of the debt securities as described in this prospectus, and will include, where applicable
(i) in the case of debt securities and, as applicable, related guarantees, the specific terms of such debt securities, which may be either senior or subordinated, secured or unsecured, and related guarantees, (ii) in the case of common
stock, any initial public offering price; (iii) in the case of preferred stock, the specific title and any dividend, liquidation, redemption, conversion, voting and other rights and any initial public offering price; (iv) in the case of
depositary shares, the fractional or multiple shares of preferred stock represented by each such depositary share; and (v) in the case of warrants, the duration, offering price, exercise price and detachability. In addition, such specific terms
may include limitations on actual or constructive ownership and restrictions on transfer of the offered securities, in each case as may be appropriate to preserve Kilroy Realty Corporations status as a real estate investment trust, or REIT,
for United States federal income tax purposes.
The applicable prospectus supplement will also contain information, where applicable,
about (i) certain United States federal income tax consequences relating to, and (ii) any listing on a securities exchange of, the offered securities covered by such prospectus supplement.
The securities may be offered directly, through agents we may designate from time to time or by, to or through underwriters or dealers. The
securities also may be offered by securityholders, if so provided in a prospectus supplement hereto. We will provide specific information about any selling securityholders in one or more supplements to this prospectus. If any agents or underwriters
are involved in the sale of any of the offered securities, their names, and any applicable purchase price, fee, commission or discount arrangement with or among them, will be set forth in, or will be calculable from the information set forth in, the
applicable prospectus supplement. See Plan of Distribution. No offered securities may be sold without delivery of this prospectus and the applicable prospectus supplement describing the method and terms of the offering of such series of
offered securities.
Kilroy Realty Corporations common stock is listed on the New York Stock Exchange, or NYSE, under the symbol
KRC. On September 14, 2022, the last reported sales price of Kilroy Realty Corporations common stock on the NYSE was $49.92 per share.
Before you
invest in the offered securities, you should consider the risks discussed in Risk Factors on page 1.
Neither the
Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or completeness of this prospectus. Any representation to the contrary is a criminal offense.
The date of this prospectus is September 15, 2022.