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Douglas Emmett Obtains New $335M Loan, Pays Off Two Loans Totaling $426M
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Santa Monica, CA-based Douglas Emmett, Inc. closed a secured, non-recourse $335 million interest-only loan that will mature in March 2025. The loan bears interest at Libor plus 1.30%, which has been effectively fixed at 3.84% per year through March 2023 using interest rate swaps.
The REIT used the loan proceeds, plus its secured line of credit, to retire a total of $426 million in debt comprised of a $146.5 million loan scheduled to mature in February 2019, and a $279.8 million loan scheduled to mature in June 2019.
With the exception of the loan secured by its Moanalua development, Douglas Emmett’s next term loan maturity is not until 2022. Nearly half of Douglas Emmett’s wholly-owned properties are currently debt free.
For comments, questions or concerns, please contact Dennis Kaiser
*Pictured Douglas Emmett’s 100 Wilshire in Santa Monica
- ◦Financing


