Douglas Emmett Buys Encino Office Building for $61M

Douglas Emmett, Inc.

, a real estate investment trust (REIT), announced that it has acquired a 191,000 square foot Class "A" multi-tenant office building located at 16501 Ventura Boulevard in Encino for a contract price of $61 million, or $319 per square foot. Douglas Emmett's total office portfolio now consists of 60 properties totaling approximately 15.1 million square feet. Douglas Emmett also owns nine premier apartment communities in Los Angeles and Honolulu totaling approximately 2,900 units.