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Douglas Emmett And Qia Acquire The Glendon

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SANTA MONICA, Calif., July 1, 2019 /PRNewswire/ -- Douglas Emmett, Inc. (NYSE:DEI), a real estate investment trust (REIT), announced the contribution of The Glendon, a residential community in Westwood with 350 apartments and approximately 50,000 square feet of retail, to an existing consolidated joint venture. Douglas Emmett recently acquired the property for $365 million. A portion of the purchase price was provided by a $160 million secured, non-recourse interest only loan that matures in June 2029 and bears interest at Libor plus 0.98%, fixed for 8 years at 3.25%.

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