And you can get into all kinds of questions about AI, about its potential for reducing the workforce and creating a new level - a higher level of what's considered full employment - meaning higher level of unemployed, you can get in all kinds of moral discussions about it as well, which I don't want to do. In previous downturns, Kilroy has emerged stronger. These numbers are only guesses and should not be considered to be accurate. Most recently he exercised 6,006 units of KRC stock worth $180,841 on 2 May 2020. With the current situation with SVB and just the general economy, decision-making has slowed down, no doubt. Tyler H Rose, President, Hi. All these technologies that came along that we're going to put everybody out of work and so forth actually went the other way and they become the biggest consumers of the space, right, and the biggest hires. I wouldn't read too much into it other than directionally, if you - if it's an older building, - it doesn't necessarily mean bad. However, despite these macroeconomic challenges, we are proud to announce that we delivered a strong quarter and record FFO per share. Thank you. Danielle? And has there been any material pickup in any of your markets over the quarter? So similar to what we talked about last quarter, the occupancy guidance factors in the move-outs and the move-ins that we projected and the big ones are the ones that we've talked about earlier, but Amazon, Pac-12, et cetera. Sure. And it's going to be, I think, materially -- and I think there's another quantum jump ready to occur over the next three months or so with the big announcements like Amazon up in Seattle and some of the others in the Bay Area of getting back to work. But San Francisco is still a thriving city, and it has a very strong attraction to young educated workers in the market. Equity Residential plans to use those funds for sustainability-focused projects, such as the 383,000-square-foot development at 855 Brannan Street in San Francisco, the largest LEED Platinum-certified multifamily property in the city. If we see something that we think is attractive, it helps the long-term situation for the company, we'll first do it. But every time there is a bank crisis or whatever, people just say, well, let's go get some more authorities. The lobby was totally full. But you have 2 years left on your loan. And we want to make sure we have plenty of time to go through the process and whatnot. WebGene Kilroy Net Worth is $400,000 Mini Biography Gene Kilroy can be an acting professional, known for We Am Ali (2014), Ali-Frazier We: One Country Divisible (2000) and In This Part Boxings Legendary Heavyweights (1992). Hello, everyone, and thanks for joining us. The company has approximately 18.5 million rentable square feet of Class A office space and 3,595 apartment units in Honolulu and Southern California. Please proceed. In total, John B. Kilroy, Jr. has made about 142 transactions over 18 years of their time at Kilroy Realty Corp. That's what's going to happen first. With regard to, Nick, this is John speaking. Excluding this nonrecurring revenue, same-store NOI would have been up about 9%. So you have that going on. Maybe just on pricing back in November, you mentioned an estimate of like 10% to 15% mark-to-market across the portfolio. Thank you for taking my question. The next question comes from Camille Bonnel of Bank of America. Mr. Kilroy previously served on the board of New Majority California and as Chairman of New Majority Los Angeles. Having said that, I think that if you are on the high-quality asset at the great location, whatever it's off, it's going to be off a lot less. If you've got 20 vacant or 20 possibilities or 50 possibilities or 100 possibilities or whatever it is in the market. Sure. And I ask that in the context of trying to understand what your watch list looks like today, just kind of given some of the incremental challenges in the tech and biotech industries right now. We understand there's a lot going on in the negotiation process, but we're seeing more headlines out there about bids for assets valuing office anywhere from 20%, 50% to 80% down from pre-pandemic levels, particularly in the West Coast market. And so our view is we want to be very transparent. This brings our updated range between $4.30 and $4.50, with a midpoint of $4.40. And that's our mentality this year as well is that we don't feel compelled to do anything. In the last 17 years, insiders at Kilroy Realty Corp have sold an estimated value of $260.35M And again, I'll remind you, it's situated in just at the Denny Regrade [ph] which is on the border of South Lake Union, where all the technology companies are, not just Amazon. Lastly, the management team at Kilroy cycle tested, managing through periods of economic uncertainty and has a proven ability to take advantage of market conditions as they unfold. Wallmine is a radically better financial terminal. And then, Elliot, I think you talked about parking income being one of the drivers behind the strong same-store results. Yes. We talked about Pac-12 that's moving out in the Bay Area in the third quarter. Thanks. Kilroy Realty Corporation (KRC), a publicly traded real estate investment trust and member of the S&P MidCap 400 Index, is one of the West Coast's premier landlords. As I previously mentioned, development spend for the remainder of the year is expected to be $325 million to $425 million. Thank you for participating. Prospective tenants are increasingly evaluating landlord capabilities and financial strength. When factoring in the roughly $75 million of spend in the first quarter, the full year estimate of $400 million to $500 million represents about a 10% decline in spend compared to our original projections. Those are weighted towards the later part of the year. It's so early, how do you know. On average, Kilroy Realty executives and independent directors trade stock every 13 days with the average trade being worth of $452,115. Scientists such as gene therapies, mRNA and immunotherapy are in the midst of rapid change that will redefine the art of what is possible. People were all over the place, looking at Salesforce Tower next door in their lobby from where my office is, it was the same thing there, the same thing over $350 million and you just see so many more people. It gets a little bit steadier in the back half of the year. John Kilroy Net Worth The estimated Net Worth of John B Jr Kilroy is at least Kilroy Realty stock worth over 509,808$ and over the last 19 years he sold KRC stock This $450 million mixed-use development broke ground in June and will take up an entire city block. Austin, our building is brand-new and all the leases that either just started or will start when the tenant improvements are done, and there's no termination right. Periods of change always present opportunities, and we intend to be opportunistic when the time is right. WebMr. We have some great candidates internally. And I've always said that we're going to play offense, but we have got a first -- in order to play off and you've got to be able to play defense. And now the realm of options or possibilities that they can innovate has grown exponentially that allows for a greater multiplier effect. It's exactly our clientele. We do have some move-ins. So that's where we stand today versus then we have no future growth assumed in that number. Despite this, earnings were down 50 percent for the quarter. That said, we believe increased capital will eventually be deployed as business conditions improve and will provide a powerful boost to the Life Science ecosystem. We think our dividend is very well covered. We anticipate additional G&A costs of $8 million to $14 million from contractual obligations tied to the accelerated vesting of shares in connection with an executive retirement. There are currently no additional questions registered at this time. And I'd finish with this point, which for quite a few years, Hollywood had very muted activity in terms of leasing. Thank you. If we were to exclude this lease, spreads would have been up approximately 8% on a cash basis. And as things sort of sort themselves out, we think that there'll be a much better functioning debt market, which will help the buyer market. The multifamily real estate company recently announced that he will be retiring at the end of 2019 after 12 years as president and CEO. Late last year, Equity Residential made a long-term investment in going green. We anticipate drawing down the remaining $170 million from our term loan over the next 2 quarters. So for us, we can accommodate 44,000 feet on 1 floor or 1.5 floors for a larger tenant in the 60,000-foot range. Good morning and John, congratulations on building a great real estate company. From a real estate perspective, we have seen the implications of the current economic backdrop translate into near-term obstacles. In 2019, as a result of his cost-of-living provision, Lorbers salary was increased to $3.299 million from $3.248 million. There's no -- there's not the degree of a functioning market that we'd like to see, and that won't really be there other than for high-quality stuff until the interest rates sort themselves out and availability of debt and so forth sorts itself out. First, congrats John on a great career. We then subtract $0.06 for various other items, most notably the nonrecurring G&A costs and higher interest expense from the remaining draws on our term loan. So do you want to cover Elliot, I mean in terms of potential sources, there's a lot. But we're going to do well and there are other tenants in the market. Wallmine is a radically better financial terminal. Wallmine is a radically better financial terminal. A lot of the activity in San Francisco is generated by AI. And over time, we expect this number to grow to over 30% and as we develop at least future Life Science projects. It's becoming more binary. Other names that John uses includes John P Kilroy and John G Kilroy. Kilroy Realty went public in 1996. and bought an estimated value of $58.07M worth of shares. And again, what we found is that the best sublease space in any market is going quickly. Today its one of the major landlords on the West Coast, with assets in markets from Seattle to San Diego. It's fabulously improved. Thank you [Operator Instructions] The next question comes from the line of Caitlin Burrows of Goldman Sachs. And with that, we will conclude today's conference call. And I think that while AI companies have made headlines, I don't think it's appreciated that. Essex broke ground on the $54 million project in 2017. Please. To clarify, you're not necessarily going to stand as Chairman? Our portfolio is young and modern comprised of high-quality, well-located assets that we believe will prove to be resilient over time. John's reported annual income is about $40 - 49,999; with a net worth that tops $250,000 - $499,999. John's mailing address filed with the SEC is 3600 LAS VEGAS BOULEVARD SOUTH, , LAS VEGAS, NV, 89109. And if people delay major facilities, then it probably means the people that we're going to go in there are going to stay somewhere else or go somewhere else. Let me touch on a few things. And just one more question on Austin. Anything that's mostly processed and not brain is going to be materially impacted. The acceleration of technological advances within the Life Science space is creating breakthroughs. So John, I can't get into the search and all the rest of some of the candidates who might be in this room. CBRE had global revenue of $21.3 billion in 2018, making it one of the worlds largest commercial real estate services and investment firms. So more to come. So just given that availability rates across most of your markets are rising and leasing backdrop is likely weakening. John Kilroy Net Worth The estimated Net Worth of John B Sr Kilroy is at least Kilroy Realty stock worth over $401,107 and over the last 18 years he sold KRC stock worth over $0. But I guess I'm just wondering the consideration to make that announcement before lining up the successor? Those are being chipped away at but there's some really positive things going on with people coming back to work. Mr. Kilroy owns over 6,006 units of Kilroy Realty stock worth over Our net liquidity is robust, but we will not hesitate to enhance it should attractive opportunities present themselves. Well, that's exactly what's happened over the last 20 years. John? Last week, a bunch of us met with all our management teams.