Kilroy Realty Corp. on Wednesday priced a public offering of 5 million shares at $46.10 a share.

The Los Angeles office real estate investment trust, which announced the offering late Tuesday, said estimated net proceeds of $221 million may be used to buy properties, pay off borrowings under the partnership’s revolving credit facility and for other corporate purposes.

Shares closed down 1 percent to $46.72 on the New York Stock Exchange.