Douglas Emmett Inc — Form 8-K

Douglas Emmett acquired The Bedford Collection (246,000 sf medical office portfolio in Beverly Hills Golden Triangle) for $260M in April 2026, holding a 13.3% stake ($150M equity) in a joint venture that financed it with $130M non-recourse debt at 5.26% fixed through April 2030. Concurrently, DEI refinanced two office loans totaling $815M at ~6% fixed. Q2 2026 revenues were $257M vs $252M prior year; net loss was $(0.02) per share vs $(0.04); FFO per share was flat at $0.37. DEI lowered full-year 2026 office occupancy guidance to 75%–77% (from higher prior range) solely due to inclusion of underperforming Studio Plaza property. Full-year net loss guidance revised to $(0.20)–$(0.16) per share; FFO guidance raised slightly to $1.39–$1.43 per share. Interest expense expected $275–$285M (raised due to higher market rates offsetting operating gains). Cash position: $355M; leverage ratio 64% of pro forma enterprise value.