Jordan Kaplan

After one of Southern California’s largest real estate transactions of the past year, the Jordan Kaplan-led Douglas Emmett real estate investment trust now owns approximately 33 percent of the Class A office inventory in Beverly Hills, including 16 buildings totaling around 2.4 million square feet. 

In April, a Douglas Emmett-managed joint venture acquired the Bedford Collection, a five-building outpatient medical office portfolio in Beverly Hills, for $260 million. 

The project was executed through a new $150 million equity joint venture to which Douglas Emmett contributed 13 percent. According to CoStar, the portfolio is 95 percent leased to around 120 tenants, including the Beverly Hills Plastic Surgery Center and “concierge physicians who cater to one of the wealthiest patient populations in the country.”

Overall, the Santa Monica-based REIT’s office portfolio consists of 18.2 million square feet across 75 Class A properties throughout coastal areas of Los Angeles and Honolulu. Tenants include William Morris Endeavor, Morgan Stanley and UCLA. 

In total, the company signed around 960,00 square feet over 234 office leases in the second quarter of 2026, including more than 375,000 square feet of new leases, achieving positive absorption of around 60,000 square feet. This followed 218 first-quarter leases totaling 909,000 square feet, including 461,000 square feet of new leasing activity, which was a single-quarter record for the company.  

Douglas Emmett’s multifamily portfolio holds 4,410 apartment units throughout Santa Monica, West Los Angeles and Honolulu, along with 1,035 units in development, according to the company’s second-quarter earnings report.  

For its multifamily holdings, the company reported full occupancy throughout the portfolio and a 2 percent higher same-property cash net operating income compared to the same period last year.

All told, Douglas Emmett reported revenues of $257 million for the second quarter of 2026, up $5 million from the same quarter last year. Funds from operations, a key cash flow measure for REITs, was 37 cents per fully diluted share, the same as the year-ago period.