July 22, 2016
Santa Monica-based Douglas Emmett, Inc. acquired 12100 Wilshire Blvd from a fund managed by Houston-based Hines for $225 million. The 365,000 square foot Class A office property in Brentwood, CA was acquired by a consolidated joint venture with Qatar Investment Authority (QIA).
The deal aligns with Douglas Emmett’s strategy of acquiring multi-tenant buildings in a premier West Los Angeles submarket. The acquisition increases the REIT’s ownership share of the Brentwood Class A office market from 50% to 61%.
Douglas Emmett will manage the joint venture and expects to retain a 20% to 30% equity interest, with the remainder held by institutional partners.
Eastdil Secured handled the transaction.
For comments, questions or concerns, please contact Dennis Kaiser