Douglas Emmett, QIA Expand With $353M Buy


The two buildings in Santa Monica were acquired from the Blackstone Group, which continues to sell off parts of its Equity Office Properties Trust portfolio.

Douglas Emmett Inc., a Santa Monica, Calif.-based Class A office and multifamily REIT, is expanding its holdings in its hometown again. The REIT, along with joint venture partner Qatar Investment Authority, has acquired two office buildings, 1299 Ocean Ave. and 429 Santa Monica Blvd., for a total of $352.8 million.

The same joint venture acquired 12100 Wilshire Blvd. in Santa Monica for $139.5 million and 233 Wilshire Blvd. in the Brentwood submarket of Los Angeles for $225 million in 2016…

Douglas Emmett, QIA Expand With $353M Buy


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