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California  + Office  | 

Douglas Emmett, QIA Complete $177M Deal with Blackstone

Douglas Emmett, Inc. acquired 9665 Wilshire Boulevard, a 171,000-square-foot Class A office property in Beverly Hills’ Golden Triangle from Blackstone Group for $177 million. The property will be held by an existing consolidated joint venture with institutional investors, including Qatar Investment Authority (QIA).

The acquisition was funded in part by a $77.5-million loan to the JV that matures July 2019 and bears interest at Libor plus 1.55%. Douglas Emmett provided 20% of the equity capital and manages the JV. The 85%-leased property adds to the JV’s holdings, which also includes 1299 Ocean Ave. and 429 Santa Monica Blvd. in Santa Monica.

The acquisition also represents another step in QIA’s plans to significantly expand its U.S. investment portfolio, which now includes the Manhattan West project in New York City, the Westside Office Portfolio with Douglas Emmett and an interest in Empire State Realty Trust.

Eastdil Secured brokered the sale.

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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