Jordan L. Kaplan

Douglas Emmett is known for acquiring some of the most in-demand office space in Los Angeles, Beverly Hills, and Burbank, but its day-to-day leader Jordan Kaplan worries about the de-globalization of the economy.

At a Citi-sponsored conference in March on navigating real estate shifts, Kaplan told attendees that he expressed concern about rising trade barriers, reduced foreign investment, and changes to local supply chains that would affect the market.

The Santa Monica-based real estate investment trust has recently found success leasing commercial office space in West L.A. and Honolulu by focusing on attracting large office tenants looking for more than 10,000 square feet. 

Douglas Emmett’s leasing activity began to rebound by the end of 2024, due to renewed interest in its Studio Plaza property in Burbank after Warner Brothers’ departure and its $131 million acquisition of the 247,000-square-foot Murdock Plaza building on 10900 Wilshire Blvd in December.

This year, Kaplan has sought to bolster the REIT’s portfolio of multifamily residential properties, too. Douglas Emmett announced plans in August to convert its 17-story Westwood office tower into a 320-unit apartment complex by combining the property with another residential building it plans to construct on the site.

Then, this September, the REIT secured more than $1 billion in refinancing loans tied to eight properties comprising 3,099 units in Southern California and one in Honolulu, replacing two tranches of debt.  

One of those nine refinancing transactions included Landmark Residences at 117 Wilshire Boulevard, a three-tower apartment complex whose debt has now been repaid. Douglas Emmett sought to evict 577 tenants in the building in 2023 in order to install a fire sprinkler system, but tenants were allowed to stay after a protracted legal battle. The REIT has filed an appeal.