September 29, 2016 Comments Off on Douglas Emmett, Qatar JV Picks Up Wilshire Asset for $139.5M Views: 323 California, California News, Los Angeles, West

Douglas Emmett, Qatar JV Picks Up Wilshire Asset for $139.5M

Santa Monica-based Douglas Emmett, Inc. acquired 233 Wilshire Blvd., a 129,000-square-foot office property for $139.5 million. The 94%-leased asset will be held by an existing consolidated joint venture with institutional investors, including Qatar Investment Authority (QIA).

The JV, which also recently acquired 12100 Wilshire Blvd., borrowed $56 million for the purchase under a secured, non-recourse interest-only loan that matures in July 2019 and bears interest at Libor plus 1.55%.

Douglas Emmett also reduced its capital interest in the consolidated joint venture to 20% through the planned sale of a portion of its interest to another undisclosed sovereign wealth fund investor.

QIA continues to expand its U.S. investment portfolio, including large CRE investments in a New York project, Douglas Emmett’s Westwood Office portfolio, and in Empire State Realty Trust.

Read More at Douglas Emmett

Connect with Douglas Emmett

Connect with QIA

For comments, questions or concerns, please contact Dennis Kaiser

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , , , ,

Comments are closed.