Press Release

Douglas Emmett Pays Off $342 Million Loan And Completes Debt Reduction

Company Release - 9/1/2017 5:22 PM ET

SANTA MONICA, Calif., Sept. 1, 2017 /PRNewswire/ -- Douglas Emmett, Inc. (NYSE:DEI), a real estate investment trust (REIT), announced that it paid off a $342 million loan on September 1, 2017 upon the expiration of its prepayment penalty.  The loan bore interest at 4.46% per annum and was scheduled to mature on March 1, 2020.

To fund the payoff, Douglas Emmett used some available cash and sold an additional $250 million of its common stock during August under its ATM program.  Having paid off its last high interest loan, Douglas Emmett has completed its debt reduction program and related sales of common stock.

Douglas Emmett has reduced its net debt to enterprise value to 32%, and lowered its average annual fixed interest rate to 3.08%.  One-third of Douglas Emmett's wholly-owned office portfolio is now debt free.  Douglas Emmett continues to have no corporate level debt and is not subject to any financial covenants.

About Douglas Emmett, Inc.
Douglas Emmett, Inc. (DEI) is a fully integrated, self-administered and self-managed real estate investment trust (REIT), and one of the largest owners and operators of high-quality office and multifamily properties located in the premier coastal submarkets of Los Angeles and Honolulu.  Douglas Emmett focuses on owning and acquiring a substantial share of top-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints, high-end executive housing and key lifestyle amenities.  For more information about Douglas Emmett, please visit our website at

Safe Harbor Statement
Except for the historical facts, the statements in this press release regarding Douglas Emmett's business activities are forward-looking statements based on the beliefs of, assumptions made by, and information currently available to us about known and unknown risks, trends, uncertainties and factors that are beyond our control or ability to predict.  Although we believe that our assumptions are reasonable, they are not guarantees of future performance and some will inevitably prove to be incorrect.  As a result, our actual future results can be expected to differ from our expectations, and those differences may be material.  Accordingly, investors should use caution in relying on forward-looking statements to anticipate future results or trends.  For a discussion of some of the risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission.

Stuart McElhinney, Vice President – Investor Relations


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SOURCE Douglas Emmett, Inc.