LOS ANGELES-Kilroy Realty Corp. has arranged a $500 million line of credit to be used for general corporate purposes, including acquisition and development, the L.A.-based REIT says. Kilroy, which bought four properties in the second quarter, arranged the three-year unsecured line of credit―plus a one-year extension option―from a syndicated group of 17 US and international banks led by J.P. Morgan Securities Inc. and Banc of America Securities LLC. In addition to acquisitions and development, Kilroy plans to use the funds for redevelopment programs and repaying long-term debt.

Kilroy recently reported its financial results for the second quarter, which showed that it closed on four separate office property acquisitions totaling approximately 1.3 million square feet and $411.4 million during the quarter. The largest of these was 303 Second St., a 732,000-square-foot office project in the South Financial District of San Francisco that it bought for approximately $233.3 million. The project was 89.7% occupied at June 30.

The other three deals, as reported previously on GlobeSt.com, included a 99,000-square-foot office building near Children's Hospital of Orange County in the City of Orange that is 100% occupied by a single tenant, the 272,000-square-foot 2211 Michelson Dr. office tower in Irvine and three office buildings totaling 191,000 square feet in the Mission Valley submarket of San Diego.