The Qatar Investment Authority (QIA) and Douglas Emmett, Inc. (NYSE: DEI) today announced a further $365 million acquisition by their multibillion dollar real estate partnership. This latest investment made an acquisition of The Glendon, a residential community in Westwood with 350 apartments and approximately 50,000 square feet of retail.
The Glendon is located within walking distance of UCLA Campus, and the Ronald Reagan UCLA Medical Center in Westwood. Westwood has more than 300 local shops and restaurants, and 1.7 million square feet of Class A high rise office properties previously purchased in a partnership between QIA and Douglas Emmett. Westwood will also be the home of the 2028 Olympic Village.
The location provides excellent connectivity to the area's growing population from primary transportation corridors including the I-405 and I-10 Freeways, as well as the LA Metro Purple Line extension planned for 2026.
QIA and Douglas Emmett to date have acquired nine office buildings in West Los Angeles along Wilshire Boulevard and in Downtown Santa Monica. This is their first residential real estate joint investment.
Douglas Emmett's total office portfolio consists of 72 office properties totalling approximately 18.4 million square feet, and premier apartment communities in Los Angeles and Honolulu, comprising over 4,000 units.
With the goal to deploy $45 billion throughout the US in the coming years, the acquisition is in line with QIA's announced intention to increase the diversification of its portfolio across the United States.
