Douglas Emmett, QIA JV Shells Out $1.4B for L.A. Office Assets
By
Tony Seruga
Douglas Emmett joined forces with the Qatar Investment Authority to acquire a four-building office portfolio in Los Angeles at a very hefty price.
10960 Wilshire, Westwood, Calif.
Los Angeles—In a joint venture with the
Qatar Investment Authority,
Douglas Emmett Inc. has acquired a four-building, 1,725,000-square-foot Class A office portfolio in the Westwood submarket of West Los Angeles, Douglas Emmett announced Tuesday. The purchase price reportedly was about $1.34 billion, or $777 per square foot.
Based in Santa Monica, Douglas Emmett focuses on Class A office and multifamily properties in Southern California and Honolulu. The REIT plans to retain 20 to 30 percent of the equity in the joint venture, with the remaining interests being held by institutional partners…
Douglas Emmett, QIA JV Shells Out $1.4B for L.A. Office Assets
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