Kilroy Realty Announces The Residences at Columbia Square

LOS ANGELES--()--Kilroy Realty Corporation (NYSE: KRC) today announced its plans for The Residences at Columbia Square, a 20-story luxury residential tower that will serve as a centerpiece of Columbia Square, an approximate $385 million, 675,000-square-foot mixed-use creative office, residential and retail development now under construction on the site of the historic CBS broadcast facility on Sunset Boulevard in Hollywood, California.

“We have assembled a world-class team to deliver a property that will offer best-in-class design, amenities and service and arguably set the standard for urban living in Los Angeles,” said Kilroy Realty Executive Vice President David Simon. “Together, we are going to create a memorable Hollywood experience in a luxury hotel environment for both our permanent and extended stay residents.”

The Residences at Columbia Square will include a mix of high-end long-term rental as well as luxuriously furnished extended stay apartment homes which will cater to traveling business, entertainment and creative professionals. It will be the first luxury extended stay property to be located in the heart of Hollywood. Each of the 200 luxury one- and two-bedroom units, ranging in size from 700 to 1,400 square feet, will feature floor-to-ceiling windows, herringbone patterned aged wood flooring, professional kitchens and well-appointed details and finishes throughout. There also will be four individually designed penthouse units of up to 4,000 square feet. Each penthouse will feature 14’ high ceilings, terraced plunge pools and other unique design elements.

The structural glass clad tower will be characterized by its sweeping Hollywood Moderne architecture. The building design also helps to preserve the view corridors from the south to the Hollywood Hills and balances proportionally in scale to the surrounding neighborhood, according to building architect Bob Hale of Los Angeles-based Rios, Clementi Hale Studios.

The Residences at Columbia Square will boast a wide range of exclusive amenities that combine the warmth and comfort of home with the luxury and pedigree of a five-star hotel, according to Bradford Korzen, CEO of The Kor Group, a Los Angeles-based development and management firm which is collaborating with Kilroy Realty on the project programming, design and branding of The Residences at Columbia Square. The Kor Group will stay on to manage the project after construction is completed in the Spring 2016.

“The Kor Group brings to this project an extensive background and market expertise in designing, curating, and branding residential lifestyle luxury development,” added Simon.

“The crown jewel of the building will be an elegantly designed rooftop with a pool, private lounge and social club, workspace and sweeping 360-degree views,” said Korzen.

“The two-story lobby will have a residential feel and include a finely curated library and bar, a lounge with opulent seating and a grand fireplace, as well as a world-class restaurant helmed by a renowned chef. Residents will have access to a fully equipped fitness center, community-inspired work center, state-of-the-art media rooms, event spaces, terrace and a 24-hour full-service concierge that delivers red carpet access to the best of Hollywood. The beautiful and thoughtfully designed Columbia Square Residences will embody the modern California dream.”

Kilroy Realty also has tapped internationally renowned designer Kelly Wearstler to design the building’s common areas and furnished units.

“Our concept combines a sophisticated, neutral color palette, richly burnished metals and fine wood cabinetry,” said Wearstler, whose body of work includes grand residential interiors for some of the most prominent players in the worlds of art, business and entertainment as well as the Viceroy Santa Monica, Avalon Beverly Hills and the award-winning Viceroy Anguilla. “The raw but refined spaces will channel the vibrant fantasy of a European escape combined with the iconic, relaxed sophistication of west coast chill,” she added.

Located in the heart of Hollywood at 6121 Sunset Boulevard, the 4.7 acre-Columbia Square project also will include 350,000 square feet of new and 80,000 square feet of renovated creative office and studio space plus approximately 20,000 square feet of retail space fronting Sunset Boulevard.

About Kilroy Realty Corporation. With more than 65 years of experience owning, developing, acquiring and managing commercial properties in West Coast real estate markets; publicly traded real estate investment trust Kilroy Realty Corporation (KRC), a member of the S&P MidCap 400 Index, is one of the region’s premier landlords. The company provides physical work environments that can advance creativity and productivity to serve a roster of dynamic, innovation-driven tenants that includes technology, entertainment, digital media and health care companies. At September 30, 2013, the company’s stabilized portfolio totaled 12.5 million square feet of office properties, all located in the coastal regions of greater Seattle, the San Francisco Bay Area, Los Angeles, Orange County, and San Diego. In addition, KRC has approximately 1.9 million square feet of new office development under construction with a total estimated investment of approximately $1.1 billion. 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 forward-looking statements, and you should not rely on 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 forward-looking statements, including, among others, risks associated with: investment in real estate assets, which are illiquid; trends in the real estate industry; significant competition, which may decrease the occupancy and rental rates of properties; the ability to successfully complete acquisitions and dispositions on announced terms; the ability to successfully operate acquired properties; the availability of cash for distribution and debt service and exposure of risk of default under debt obligations; adverse changes to, or implementations of, applicable laws, regulations or legislation; and the ability to successfully complete development and redevelopment projects on schedule and within budgeted amounts. These factors are not exhaustive. 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, 2012 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on information that was available, 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 required in connection with ongoing requirements under U.S. securities laws.

Contacts

Kilroy Realty Corporation
Tyler H. Rose
Executive Vice President and Chief Financial Officer
310-481-8484
or
Michelle Ngo
Senior Vice President and Treasurer
310-481-8581

Sharing

Contacts

Kilroy Realty Corporation
Tyler H. Rose
Executive Vice President and Chief Financial Officer
310-481-8484
or
Michelle Ngo
Senior Vice President and Treasurer
310-481-8581