Kilroy Realty Corp. late Wednesday said that it has commenced a secondary offering of 5.5 million shares of common stock. At the stock’s current price, the sale could raise more than $195 million.

The Los Angeles office and industrial real estate investment trust said it plans to contribute net proceeds to its operating entity, Kilroy Realty L.P., which will use some of the money to finance part of the $237 million purchase price of an office building in San Francisco. Any remainder will be used to pay down debt or for other general corporate purposes.

Kilroy currently has 43.1 million shares outstanding so the new shares would be a 13 percent increase.

BofA Merrill Lynch, Barclays Capital and J.P. Morgan are the joint book-running managers. The REIT said it expects to grant the underwriters a 30-day option to purchase up to 825,000 additional shares of common stock to cover any overallotments.

Shares earlier closed down 29 cents, or less than 1 percent, to $35. 30 on the New York Stock Exchange