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FINANCIAL NEWS
QIA, Douglas Emmett acquires USD225m LA office building
24 Jul 2016
(MENAFN) Qatar Investment Authority (QIA) has announced the acquisition of a mega office property in Los Angeles in joint venture with Douglas Emmett, a real estate investment trust (REIT.
In detail, the 365,000-sq-ft Class “A” property, located at 12100 Wilshire Boulevard in the Brentwood submarket of Los Angeles, was bought for USD225 million.
Moreover, the office represents a classic Douglas Emmett acquisition of a multitenant building in a premier West Los Angeles submarket, said a statement.
With known move-outs, the property will be 77 percent leased, considerably below the 97 percent average of Douglas Emmett’s existing Brentwood portfolio.
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