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California  + Apartments  | 

Douglas Emmett Expands Westside Footprint with $365M MXU

Douglas Emmett, Inc. acquired The Glendon, a residential community in Los Angeles’ Westwood with 350 apartments and roughly 50,000 square feet of retail, from Clarion for a contract price of $365 million. Built in 2008, the property is located at 1060 Glendon Ave., and sits on 4.25 acres in the heart of pedestrian-friendly Westwood Village.

The Glendon common areas were recently upgraded and the property is midway through a total unit renovation, which will be completed by Douglas Emmett. The Glendon’s multifamily units and its ground floor retail are both 97% leased.

With the acquisition of The Glendon, Douglas Emmett has grown its total multifamily portfolio by over 20% in the last two years, to over 4,000 units in West Los Angeles and Honolulu.

Douglas Emmett also closed a total of $540 million in 10-year, secured, non-recourse loans and sold 4.9 million shares of its common stock at pricing just above $41 per share through its ATM program.

To stay connected with multifamily news and trends, we invite you to attend Connect Apartments at the JW Marriott in Los Angeles June 20, 2019.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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