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$KRC

Kilroy Realty (KRC): Sale of the Exchange Confirms Massive Undervaluation

Kilroy Realty (KRC): Sale of the Exchange Confirms Massive Undervaluation
Members Public

On 3/8 Kilroy Realty announced it has agree to sell The Exchange, a downtown San Francisco office building for $1.1 billion (significant at 10% of KRC's enterprise value), a record setting $1,440 per foot.  I estimate deal was done at a ~4% cap rate.   Interestingly, the entire

Eric J Bokota
$KRC
More office results/Musings on Office/ Margin of safety

More office results/Musings on Office/ Margin of safety
Members Public

I have been thinking about office real estate and office REITs more over the past couple of weeks.  As noted in my piece highlighting the severe underweighting of apartment REITs in real estate indices/ETFs, office REITs are also significantly underweight (versus real commercial property weighting).  Similarly office real estate

Eric J Bokota
$KRC
Kilroy Realty: $200+ million in NOI for FREE or... How bad is SF really?

Kilroy Realty: $200+ million in NOI for FREE or... How bad is SF really?
Members Public

Note: this article was sent out to subscribers in advance of web publication.  Wanna hear it first? Sign up to receive Private Eye Capital's FREE Actionable Investment Idea Newsletter.  It's FREE! Headlines like this: San Francisco Office Vacancy Rate Eclipses Financial-Crisis HighSan Francisco Office Vacancy Rate Eclipses Financial-Crisis HighBloomberg QuintNoah

Eric J Bokota
$KRC
KRC results: Outlook Better than expected & Private Market Comps

KRC results: Outlook Better than expected & Private Market Comps
Members Public

More evidence that Kilroy Realty (KRC - here is my initial piece) is significantly undervalued came with 4Q results.  While 4Q leasing activity remained subdued (just 61k sq feet signed in 4Q with 14% POSITIVE cash rent spread; signed another 75k sq feet in January 21 with 10-15% POSITIVE cash

Eric J Bokota
$KRC
LA is set to BOOM!

LA is set to BOOM!
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Happy new year - As I’ve mentioned previously, I believe that LA is on the precipice of a large, Hollywood-driven boom (I’m guessing 2H21) as: Working through the backlog of un-produced film & TV from 2020 as COVID shut down production schedules for much of 2020.More importantly,

Eric J Bokota
$ESS
Kilroy Realty: The Price is Wrong

Kilroy Realty: The Price is Wrong
Members Public

Note: A draft was sent to our FREE Actionable Investment Idea Newsletter in advance of publication on this website.  If you like being in the know and want FREE weekend reading, be sure to sign up NOW. It's FREE!! Like many office REITs, Kilroy Realty (KRC) shares have been pummeled

Eric J Bokota
$KRC