Kilroy Realty Corporation is a real estate investment trust that acquires, develops, and redevelops office and mixed-use properties concentrated primarily in California and the Seattle metropolitan area, with expansion into Austin, Texas, generating revenue through rental income from commercial tenants. The company holds a portfolio of stabilized office buildings along with undeveloped land sites for future development, and may selectively invest in real estate securities and mortgages to maintain liquidity. To comply with REIT requirements, the company distributes at least 90% of taxable income annually to stockholders and relies on issuing additional equity and debt securities to fund acquisitions, developments, and capital needs.