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Douglas Emmett, Inc. Announces Final Closing of Its Institutional Fund

^{Published on 2010-07-01 16:25:41 - Market Wire}
 

SANTA MONICA, Calif.--([ BUSINESS WIRE ])--Douglas Emmett, Inc. (NYSE: DEI), a real estate investment trust (REIT), announced that it closed the subscription period for its current institutional fund on June 30, 2010. The closing brought the total equity commitments to $549,250,000, including $191 million from the Company a" an increase from the Companya™s previously announced commitment level of $150 million.

As of June 30, 2010, an aggregate of $267 million of equity commitments remain for investment in future acquisitions. As previously announced, a portion of the fundsa™ equity commitments was previously utilized to acquire six Class aAa office buildings in the Los Angeles area totaling approximately 1.4 million square feet, the majority of which is in Beverly Hills.

Douglas Emmett forms institutional funds to take advantage of real estate opportunities within its core submarkets using the same underwriting and leverage principles that have governed acquisitions at Douglas Emmett for more than 20 years.

About Douglas Emmett, Inc.

Douglas Emmett, Inc. (NYSE: DEI) is a fully integrated, self-administered and self-managed real estate investment trust (REIT), and one of the largest owners and operators of high-quality office and multifamily properties located in premier submarkets in Southern California and Hawaii. The Companya™s properties are concentrated in ten submarkets a" Brentwood, Olympic Corridor, Century City, Santa Monica, Beverly Hills, Westwood, Sherman Oaks/Encino, Warner Center/Woodland Hills, Burbank and Honolulu. The Company focuses on owning and acquiring a substantial share of top-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints, high-end executive housing and key lifestyle amenities. The Company maintains a website at [ www.douglasemmett.com ].

Safe Harbor Statement

Except for the historical facts, the statements in this press release regarding Douglas Emmetta™s business activities are forward-looking statements based on the beliefs of, assumptions made by, and information currently available to us about known and unknown risks, trends, uncertainties and factors that are beyond our control or ability to predict. Although we believe that our assumptions are reasonable, they are not guarantees of future performance and some will inevitably prove to be incorrect. As a result, our actual future results can be expected to differ from our expectations, and those differences may be material. Accordingly, investors should use caution in relying on forward-looking statements to anticipate future results or trends. For a discussion of some of the risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see aRisk Factorsa in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission.