Douglas Emmett secures $260M Beverly Hills medical portfolio

Douglas Emmett (NYSE:DEI), a prominent real estate investment trust, has significantly expanded its premium asset base with the $260 million acquisition of the Bedford Collection.

Located in the highly sought-after "Golden Triangle" of Beverly Hills, the 246,000-square-foot outpatient medical portfolio dominates its immediate submarket, encompassing approximately 80% of the entire 400 block of Bedford Drive, with the sole exception of a municipal public parking garage.

The transaction was structured and executed through a newly established $150 million equity joint venture.

Douglas Emmett will manage the venture and has contributed 13% of the required equity capital.

To complete the financing for the acquisition, the joint venture secured a $130 million non-recourse, interest-only first trust deed loan.

The debt facility is tied to a floating interest rate of the Secured Overnight Financing Rate (SOFR) plus 1.70% and is scheduled to mature in April 2031, reflecting a strategic capital deployment into a high-barrier-to-entry medical office sector.