Douglas Emmett buys Beverly Hills medical office portfolio for $260M

Douglas Emmett (DEI) “announced the acquisition of the Bedford Collection, a premier 246,000-square-foot outpatient medical portfolio located on Bedford Drive in the prestigious Beverly Hills “Golden Triangle.” This portfolio represents approximately 80% of the entire 400 block of Bedford with the exception of a public parking garage. The $260 million acquisition was executed through a newly formed $150 million equity joint venture managed by Douglas Emmett, who contributed 13% of the equity. The purchase was financed using a $130 million secured, non-recourse, interest-only, first trust deed loan. The loan matures in April 2031 and carries an interest rate of SOFR plus 1.70%.”