Kilroy Realty Corporation Wins 2016 ENERGY STAR Partner of the Year Sustained Excellence Award

LOS ANGELES--()--Kilroy Realty Corporation (NYSE: KRC) announced today that the U.S. Environmental Protection Agency (EPA) has for the third year in a row recognized KRC as an ENERGY STAR Partner of the Year. In addition, the EPA has also recognized KRC for the first time with its Sustained Excellence designation, which is the Agency’s highest honor.

“ENERGY STAR gives us the tools we need to collaborate across Engineering, Sustainability, Asset Management, Legal and Finance to drive continued improvements.”

EPA's annual ENERGY STAR Awards honor organizations that have made outstanding contributions to protecting the environment through superior energy efficiency. The award winners are chosen from nearly 20,000 partners that participate in the ENERGY STAR program, and the selection is extremely competitive. Commercial landlords that win the prestigious award have demonstrated an organization-wide commitment to reducing energy costs for their tenants in partnership with ENERGY STAR. Only organizations that have consistently earned Partner of the Year for several years are eligible to earn Sustained Excellence, and their annual achievements must continue to surpass those in previous years.

“Reducing energy use in our existing buildings is a core operational goal at KRC, and the ENERGY STAR program is crucial for enabling us to find reductions each year,” said Bill Wendt, Vice President, Facilities and Engineering at KRC. “ENERGY STAR gives us the tools we need to collaborate across Engineering, Sustainability, Asset Management, Legal and Finance to drive continued improvements.”

With a focus on ongoing performance measurement and whole-building improvement, EPA's ENERGY STAR program provides a proven energy management platform that has helped KRC achieve important reductions in energy use and greenhouse gas emissions.

KRC’s key 2015 accomplishments related to award-winning energy management programs included:

  • 40 properties (7.2 million square feet) earned the ENERGY STAR Label in 2015, representing 64% of the KRC eligible stabilized portfolio
  • Labeled properties had an average ENERGY STAR score of 88
  • KRC recognized the work of its engineers through an award-winning social media campaign
  • KRC’s portfolio experienced a drop in energy use of 3.5%, even though occupancy increased over the same timeframe
  • The annual CO2 reduction is equivalent to taking 1,389 cars off the road for a year, providing a year of electricity to 602 homes, planting 169,160 trees and letting them grow for 10 years, and avoiding burning over 35.4 railcars’ worth of coal. Since the 2010 launch of our energy efficiency programs, KRC has cumulatively saved over 21.5 million kwh and $3.9 million.
    (http://www.epa.gov/cleanenergy/energy-resources/calculator.html#results)

“By continued collaboration with ENERGY STAR, KRC is helping Americans save money, save energy, and do their part to reduce our nation’s greenhouse gas emissions that exacerbate climate change,” said EPA Administrator Gina McCarthy. “I’m proud to recognize KRC with the highest form of ENERGY STAR recognition, as the winner of the 2016 Partner of the Year – Sustained Excellence Award. KRC demonstrates a strong commitment to energy efficiency and to preserving a healthy planet for future generations.”

The award winners, including KRC, will be recognized at an awards ceremony in Washington, D.C. on April 13th.

About ENERGY STAR. ENERGY STAR was introduced by the U.S. Environmental Protection Agency in 1992 as a voluntary market-based partnership to reduce greenhouse gas emissions through increased energy efficiency. Today, ENERGY STAR offers businesses and consumers energy-efficient solutions to save energy, money, and help protect the environment for future generations. Nearly 20,000 organizations are ENERGY STAR partners committed to improving the energy efficiency of products, homes, and buildings. For more information about ENERGY STAR, visit www.energystar.gov or call toll-free 1-888-STAR-YES (1-888-782-7937).

About Kilroy Realty Corporation. With more than 65 years’ experience owning, developing, acquiring and managing real estate assets in West Coast real estate markets, Kilroy Realty Corporation (KRC), a publicly traded real estate investment trust and member of the S&P MidCap 400 Index, is one of the region’s premier landlords. The company provides physical work environments that foster creativity and productivity and serves a broad roster of dynamic, innovation-driven tenants, including technology, entertainment, digital media and health care companies.

At December 31, 2015, the company’s stabilized portfolio totaled 13.0 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. The company is recognized by GRESB as the North American leader in sustainability and was ranked first among 155 North American participants across all asset types. At the end of the fourth quarter, the company’s properties were 47% LEED certified and 64% of eligible properties were ENERGY STAR certified. In addition, KRC had approximately 1.9 million square feet of new office and mixed-use development under construction with a total estimated investment of approximately $1.2 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, 2015 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
Sara Neff
Senior Vice President, Sustainability
310-481-8449
sneff@kilroyrealty.com

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