Douglas Emmett, Inc.
DEI, a real estate investment trust (REIT), announced that it has
acquired a 225,000 square foot Class "A" multi-tenant office building
located at 8484 Wilshire Boulevard in Beverly Hills for a contract price of
$89 million, or $395 per square foot.
With this acquisition, Douglas Emmett now owns and operates 8 office
properties in Beverly Hills, aggregating more than 1.6 million square feet
and approximately 21% of the Class "A" office space within this submarket.
Douglas Emmett's total office portfolio now consists of 59 properties
totaling approximately 14.9 million square feet. The Company also owns nine
premier apartment communities in Los Angeles and Honolulu totaling
approximately 2,900 units.
About Douglas Emmett, Inc.
Douglas Emmett, Inc. (DEI) is a fully integrated, self-administered and
self-managed real estate investment trust (REIT), and one of the largest
owners and operators of high-quality office and multifamily properties
located in the premier coastal submarkets of Los Angeles and Honolulu.
Douglas Emmett focuses on owning and acquiring a substantial share of
top-tier office properties and premier multifamily communities in
neighborhoods that possess significant supply constraints, high-end
executive housing and key lifestyle amenities. For more information about
Douglas Emmett, please visit our website at www.douglasemmett.com.
Safe Harbor Statement
Except for the historical facts, the statements in this press release
regarding Douglas Emmett's business activities are forward-looking
statements based on the beliefs of, assumptions made by, and information
currently available to us about known and unknown risks, trends,
uncertainties and factors that are beyond our control or ability to predict.
Although we believe that our assumptions are reasonable, they are not
guarantees of future performance and some will inevitably prove to be
incorrect. As a result, our actual future results can be expected to differ
from our expectations, and those differences may be material. Accordingly,
investors should use caution in relying on forward-looking statements to
anticipate future results or trends. For a discussion of some of the risks
and uncertainties that could cause actual results to differ from those
contained in the forward-looking statements, see "Risk Factors" in our
Annual Report on Form 10-K filed with the U.S. Securities and Exchange
Commission.
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