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Douglas Emmett Announces Acquisition of Office Building at Beverly Hills

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By Joel ScanlonApr 22 2011

Douglas Emmett, a self-administrated and fully incorporated real estate investment trust that owns and operates multifamily and office properties located in Hawaii and Southern California, declared that it has purchased a class ‘A’ type of office building measuring 74,000 square foot.

It has paid the agreement price of $568 per square foot totaling $42 million for the building located at 150 South Rodeo Drive in the central part of Beverly Hills.

Douglas Emmett, by making this acquisition, now possess and manages seven office properties totaling an area of over 1.4 million square foot in the area of Beverly Hills. Now the company controls around 19% of Class ‘A’ office space in the submarket. The total office portfolio of the company presently includes 58 properties measuring around 14.7 million square feet area.

In the Honolulu and Los Angles areas the company possesses 2,868 apartment units.

Source: http://www.douglasemmett.com/

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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Scanlon, Joel. (2019, March 19). Douglas Emmett Announces Acquisition of Office Building at Beverly Hills. AZoBuild. Retrieved on November 23, 2024 from https://www.azobuild.com/news.aspx?newsID=13841.
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Scanlon, Joel. "Douglas Emmett Announces Acquisition of Office Building at Beverly Hills". AZoBuild. 23 November 2024. <https://www.azobuild.com/news.aspx?newsID=13841>.
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