Douglas Emmett, Inc. (DEI), a Santa Monica, CA-based REIT, announced this week that it had acquired the Carthay Campus in Los Angeles for $75.3 million, or $360 per square foot. The 216,000 square foot office property was sold by a joint venture between Cambria Realty and PRP LLC, which originally purchased the property in 2009 for $44 million. Representation and terms of the deal were not disclosed, though DEI did announce that it financed the purchase using available cash and a portion of its credit line.
The Carthay Campus is a Class A mutli-tenant office property located at 6310/6330 San Vicente Boulevard. At the time of sale, the two-building property was roughly 83% leased.
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