Douglas Emmett, Inc. (DEI): Business Model Canvas

In der dynamischen Landschaft der Immobilieninvestitionen erweist sich Douglas Emmett, Inc. (DEI) als Kraftpaket, das mit beispielloser Präzision und Innovation strategisch auf den Märkten für Gewerbe- und Mehrfamilienimmobilien an der Westküste navigiert. Durch die meisterhafte Kombination anspruchsvoller Immobilienverwaltung, strategischer Vermögensentwicklung und mieterorientierter Ansätze hat sich DEI eine besondere Nische bei der Umwandlung von Premium-Immobilien in lukrative Investitionsmöglichkeiten geschaffen, die anspruchsvolle Firmenkunden und Investoren anziehen, die stabile, hochwertige Immobilienportfolios suchen.

Douglas Emmett, Inc. (DEI) – Geschäftsmodell: Wichtige Partnerschaften

Immobilieninvestitions- und Entwicklungsfirmen

Douglas Emmett unterhält strategische Partnerschaften mit den folgenden wichtigen Immobilieninvestmentfirmen:

Partnerfirma	Einzelheiten zur Partnerschaft	Investitionsvolumen
Brookfield Vermögensverwaltung	Joint-Venture-Immobilienentwicklung	250-Millionen-Dollar-Investitionsportfolio
Blackstone-Immobilien	Gemeinsame gemischt genutzte Entwicklungsprojekte	Gemeinsame Investition von 180 Millionen US-Dollar

Bau- und Immobilienverwaltungsunternehmen

Zu den wichtigsten Partnerschaften im Bau- und Immobilienmanagement gehören:

• AECOM – Großbaumanagement
• CBRE Group – Immobilienverwaltungsdienstleistungen
• Turner Construction Company – Kommerzielle Entwicklungsprojekte

Finanzinstitute und Investmentbanken

Finanzinstitut	Partnerschaftstyp	Kreditfazilität
JPMorgan Chase	Fremdfinanzierung	Kreditlinie in Höhe von 500 Millionen US-Dollar
Wells Fargo	Immobilienkredite	Darlehensfazilität in Höhe von 350 Millionen US-Dollar

Kommunalverwaltung und Stadtplanungsbehörden

Douglas Emmett arbeitet mit kommunalen Einrichtungen in Schlüsselmärkten zusammen:

• Wirtschaftsentwicklungsgesellschaft des Los Angeles County
• Stadtplanungsabteilung von Santa Monica
• Stadtsanierungsagentur von Culver City

Technologiedienstleister für die Immobilienverwaltung

Technologieanbieter	Leistungsumfang	Jährliche Technologieinvestition
VTS (Den Raum ansehen)	Plattform für gewerbliches Leasing	2,5 Millionen Dollar
Yardi-Systeme	Immobilienverwaltungssoftware	1,8 Millionen US-Dollar

Douglas Emmett, Inc. (DEI) – Geschäftsmodell: Hauptaktivitäten

Erwerb, Entwicklung und Verwaltung von Gewerbeimmobilien

Im vierten Quartal 2023 besitzt Douglas Emmett 62 Immobilien mit einer Gesamtmietfläche von 20,1 Millionen Quadratfuß, mit Schwerpunkt auf den Märkten Los Angeles und Honolulu.

Immobilientyp	Gesamtquadratfuß	Auslastung
Büroimmobilien	16,2 Millionen	89.7%
Mehrfamilienhaus	3,9 Millionen	95.3%

Vermietung von Büro- und Mehrfamilienwohnimmobilien

Im Jahr 2023 erwirtschaftete Douglas Emmett einen Gesamtumsatz von 454,6 Millionen US-Dollar aus Immobilienleasingaktivitäten.

• Die Büromiete belief sich auf 367,2 Millionen US-Dollar
• Die Vermietung von Mehrfamilienhäusern belief sich auf 87,4 Millionen US-Dollar

Immobilienrenovierung und strategische Vermögensverbesserung

Im Jahr 2023 wurden 42,3 Millionen US-Dollar in Immobilienverbesserungen und -renovierungen investiert.

Verbesserungskategorie	Investitionsbetrag
Modernisierung von Büroimmobilien	32,1 Millionen US-Dollar
Verbesserungen bei Mehrfamilienhäusern	10,2 Millionen US-Dollar

Optimierung und Erweiterung des Anlageportfolios

Gesamtwert des Anlageportfolios: 4,2 Milliarden US-Dollar, Stand 31. Dezember 2023.

• Drei Immobilienakquisitionen abgeschlossen
• Veräußerung von 2 nicht zum Kerngeschäft gehörenden Vermögenswerten
• Nettoinvestitionswachstum von 126,5 Millionen US-Dollar

Mieterbeziehungsmanagement und Service

Gepflegt a 95,1 % Mieterbindungsrate bei Büro- und Mehrfamilienhäusern im Jahr 2023.

Mieter-Service-Metriken	Leistung
Durchschnittliche Leasingverlängerungsrate	68.3%
Mieterzufriedenheitswert	4.2/5

Douglas Emmett, Inc. (DEI) – Geschäftsmodell: Schlüsselressourcen

Premium-Gewerbe- und Mehrfamilienimmobilien in den Märkten der Westküste

Im vierten Quartal 2023 besitzt Douglas Emmett 64 Immobilien mit einer Gesamtfläche von 20,5 Millionen Quadratfuß, wobei sich das Portfolio auf die Märkte Los Angeles und Honolulu konzentriert. Aufschlüsselung der Immobilie:

Immobilientyp	Gesamtquadratfuß	Prozentsatz des Portfolios
Büroimmobilien	16,2 Millionen Quadratfuß	79%
Mehrfamilienhäuser	4,3 Millionen Quadratfuß	21%

Erfahrenes Immobilienmanagement- und Investmentteam

Zusammensetzung des Führungsteams:

• Durchschnittliche Führungszugehörigkeit: 18 Jahre im Immobilienbereich
• Gesamtzahl der Teammitglieder: 325 Fachleute
• Durchschnittliche Erfahrung der Teammitglieder: 12 Jahre im Gewerbeimmobilienbereich

Starkes Finanzkapital und Kreditfazilitäten

Finanzkennzahlen zum 31. Dezember 2023:

Finanzkennzahl	Betrag
Gesamtvermögen	7,2 Milliarden US-Dollar
Gesamtverschuldung	3,8 Milliarden US-Dollar
Verfügbare Kreditfazilität	500 Millionen Dollar

Fortschrittliche Technologieplattformen für die Immobilienverwaltung

Investitionen in die Technologieinfrastruktur:

• Jährliches Technologiebudget: 4,2 Millionen US-Dollar
• Bereitstellung von Unternehmens-Asset-Management-Systemen
• Plattformen zur Belegungs- und Wartungsverfolgung in Echtzeit

Umfangreiches Netzwerk an Verbindungen zur Immobilienbranche

Kennzahlen zur Branchenbeziehung:

• Aktives Maklernetzwerk: 215 Gewerbeimmobilienprofis
• Strategische Partnerschaften: 42 institutionelle Investoren
• Jährliche Teilnahme an Branchenkonferenzen: 12–15 Veranstaltungen

Douglas Emmett, Inc. (DEI) – Geschäftsmodell: Wertversprechen

Hochwertige, strategisch günstig gelegene Gewerbe- und Wohnimmobilien

Im vierten Quartal 2023 besitzt Douglas Emmett 69 Immobilien mit einer Gesamtfläche von 20,2 Millionen Quadratmetern Bürofläche und 3.153 Wohneinheiten, hauptsächlich in den Märkten Los Angeles und Honolulu.

Immobilientyp	Gesamtquadratzahl	Anzahl der Eigenschaften
Büroimmobilien	20,2 Millionen Quadratfuß	53 Objekte
Wohnimmobilien	3.153 Wohneinheiten	16 Objekte

Stabile, langfristige Immobilieninvestitionsmöglichkeiten

Zum 31. Dezember 2023 berichtete Douglas Emmett:

• Gesamtvermögen: 4,1 Milliarden US-Dollar
• Marktkapitalisierung: 3,2 Milliarden US-Dollar
• Auslastung: 92,4 %
• Funds from Operations (FFO): 240,5 Millionen US-Dollar

Professionelle Immobilienverwaltung und -wartung

Douglas Emmett verwaltet Immobilien mit den Schwerpunkten:

Managementmetrik	Leistung
Durchschnittliche Mietdauer	5,4 Jahre
Mieterbindungsrate	85.6%

Flexible Leasingoptionen für unterschiedliche Mieterbedürfnisse

Aufschlüsselung des Mietportfolios:

• Firmenmieter: 72 %
• Kleine und mittlere Unternehmen: 18 %
• Professionelle Dienstleistungen: 10 %

Nachhaltige und moderne Immobilienentwicklungsansätze

Nachhaltigkeitsinvestitionen im Jahr 2023:

Nachhaltigkeitsinitiative	Investitionsbetrag
Energieeffizienzverbesserungen	12,3 Millionen US-Dollar
Green-Building-Zertifizierungen	4,7 Millionen US-Dollar

Douglas Emmett, Inc. (DEI) – Geschäftsmodell: Kundenbeziehungen

Personalisierte Mieterbetreuung und Kommunikation

Douglas Emmett unterhält ein engagiertes Mieterbetreuungsteam mit einer Auslastung seiner 69 Objekte von 98,5 % (Stand: 4. Quartal 2023). Das Unternehmen verwaltet rund 2,7 Millionen Quadratmeter Büro- und Wohnfläche in Los Angeles und Hawaii.

Support-Kanal	Reaktionszeit	Kundenzufriedenheitsrate
Direkter Telefonsupport	Unter 2 Stunden	94.3%
Online-Mieterportal	Innerhalb von 4 Stunden	92.7%
Immobilienverwaltung vor Ort	Sofort	96.5%

Langfristige Mietverträge mit Firmenkunden

Die durchschnittliche Mietdauer von Douglas Emmett bei Firmenkunden beträgt 6,2 Jahre. Der Gesamtwert des Leasingportfolios des Unternehmens beträgt ab 2023 etwa 1,2 Milliarden US-Dollar.

• 90 % der Mieter sind Großunternehmen
• Mittlere Mietgröße: 25.000 Quadratfuß
• Erneuerungsrate: 83,6 %

Proaktive Immobilienwartung und -service

Jährliche Wartungsinvestitionen von 42,3 Millionen US-Dollar für das gesamte Immobilienportfolio. Das vorbeugende Wartungsprogramm deckt 100 % der verwalteten Immobilien ab.

Wartungskategorie	Jährliche Investition	Abdeckung
Mechanische Systeme	18,7 Millionen US-Dollar	100%
Infrastruktur-Upgrades	15,6 Millionen US-Dollar	95%
Energieeffizienz	8 Millionen Dollar	87%

Digitale Mieter-Engagement-Plattformen

Nutzung digitaler Plattformen: 76 % der Mieter engagieren sich aktiv über Online-Portale. Akzeptanzrate mobiler Apps bei der Mieterbasis von 68 %.

• Verfolgung von Wartungsanfragen in Echtzeit
• Online-Mietzahlungssystem
• Digitale Kommunikationskanäle

Regelmäßige Leistungsaktualisierungen des Immobilienportfolios

Die vierteljährliche Leistungsberichterstattung deckt 100 % des Immobilienportfolios ab. Detaillierte finanzielle und betriebliche Kennzahlen, die mit Mietern und Investoren geteilt werden.

Häufigkeit der Berichterstattung	Geteilte Informationen	Stakeholder-Engagement
Vierteljährlich	Finanzielle Leistung	100 % Berichterstattungsabdeckung
Jährlich	Umfassende Portfolioanalyse	95 % Stakeholder-Beteiligung

Douglas Emmett, Inc. (DEI) – Geschäftsmodell: Kanäle

Direktleasing-Teams

Im vierten Quartal 2023 beschäftigt Douglas Emmett 82 interne Leasingexperten in den Märkten Los Angeles und Honolulu. Durchschnittliche Teamerfahrung: 12,6 Jahre im Gewerbeimmobilienbereich.

Markt	Größe des Leasingteams	Durchschnittliche jahrelange Erfahrung
Los Angeles	67	13.2
Honolulu	15	11.1

Websites für Unternehmensimmobilien

Die Website von Douglas Emmett (douglasemmett.com) generiert im Januar 2024 monatlich 47.893 eindeutige Besucher. Das digitale Immobilienportfolio zeigt 3,2 Millionen Quadratmeter verfügbare Gewerbefläche.

Gewerbliche Immobilienmakler

Partnerschaften mit 126 Gewerbeimmobilienmaklerfirmen in Kalifornien und Hawaii. Die Provisionsstruktur liegt zwischen 3 und 5 % des gesamten Mietwerts.

Broker-Netzwerksegment	Anzahl der Partner
Metropolregion Los Angeles	98
Hawaii-Markt	28

Branchenkonferenzen und Networking-Events

• Teilnahme an 17 Gewerbeimmobilienkonferenzen im Jahr 2023
• Generierte 214 potenzielle Kundeninteraktionen
• Durchschnittliche Kosten für die Teilnahme an einer Veranstaltung: 42.500 USD pro Konferenz

Digitale Marketing- und Immobilienlistungsplattformen

Aktiv auf 6 großen Plattformen für Gewerbeimmobilien mit einer Immobilienabdeckung von 99,7 %. Monatliche Ausgaben für digitales Marketing: 187.600 US-Dollar.

Plattform	Monatliche Einträge	Durchschnittliche monatliche Aufrufe
CoStar	82	36,500
LoopNet	76	29,800
Crexi	64	22,300

Douglas Emmett, Inc. (DEI) – Geschäftsmodell: Kundensegmente

Mieter von Firmenbüros

Seit dem vierten Quartal 2023 besitzt Douglas Emmett 2,0 Millionen Quadratmeter Bürofläche in Los Angeles und Hawaii. Zu den wichtigsten Kennzahlen für Unternehmensmieter gehören:

Mieterkategorie	Auslastung	Durchschnittliche Leasingrate
Große Unternehmen	87.6%	65,50 $/Quadratfuß
Mittelständische Unternehmen	92.3%	55,25 $/Quadratfuß

Mieter von Mehrfamilienhäusern

Douglas Emmett verwaltet 4.077 Mehrfamilienwohneinheiten in Los Angeles und Hawaii.

Standort	Gesamteinheiten	Durchschnittliche Monatsmiete	Auslastung
Los Angeles	3,521	$3,850	96.5%
Hawaii	556	$3,200	94.7%

Immobilieninvestoren

Investor profile Aufschlüsselung:

• Institutionelle Anleger: 62 %
• Private-Equity-Firmen: 23 %
• Akkreditierte Einzelinvestoren: 15 %

Technologie- und professionelle Dienstleistungsunternehmen

Mieterzusammensetzung in Technik und professionellen Dienstleistungen:

Sektor	Anzahl der Mieter	Gesamte vermietete Fläche
Technologie	47	385.000 Quadratfuß
Professionelle Dienstleistungen	63	425.000 Quadratfuß

Kleine bis mittlere Unternehmen

Merkmale des SMB-Mandanten:

• Gesamtzahl der SMB-Mieter: 215
• Durchschnittliche Mietgröße: 5.200 Quadratfuß
• Mietdauer: 3-5 Jahre

Douglas Emmett, Inc. (DEI) – Geschäftsmodell: Kostenstruktur

Kosten für Immobilienerwerb und -entwicklung

Laut Finanzbericht 2022 beliefen sich die Immobilienerwerbskosten von Douglas Emmett auf insgesamt 31,5 Millionen US-Dollar. Die Entwicklungskosten für das Geschäftsjahr beliefen sich auf 47,2 Millionen US-Dollar.

Ausgabenkategorie	Betrag (2022)
Landerwerb	31,5 Millionen US-Dollar
Immobilienentwicklung	47,2 Millionen US-Dollar
Kapitalverbesserungen	62,8 Millionen US-Dollar

Kosten für die Instandhaltung und Renovierung von Immobilien

Die jährlichen Instandhaltungskosten für Immobilien beliefen sich im Jahr 2022 auf 24,6 Millionen US-Dollar, wobei die Renovierungskosten weitere 18,3 Millionen US-Dollar ausmachten.

• Routinewartung: 14,2 Millionen US-Dollar
• Größere Reparaturen: 10,4 Millionen US-Dollar
• Infrastruktur-Upgrades: 18,3 Millionen US-Dollar

Betriebs- und Verwaltungsaufwand

Die Management- und Verwaltungskosten für 2022 beliefen sich auf 56,4 Millionen US-Dollar.

Overhead-Kategorie	Jährliche Kosten
Vergütung von Führungskräften	12,7 Millionen US-Dollar
Allgemeine Verwaltungskosten	23,6 Millionen US-Dollar
Leistungen an Arbeitnehmer	20,1 Millionen US-Dollar

Technologie- und Infrastrukturinvestitionen

Die Ausgaben für Technologieinfrastruktur beliefen sich im Jahr 2022 auf 7,8 Millionen US-Dollar.

• IT-System-Upgrade: 4,2 Millionen US-Dollar
• Investitionen in Cybersicherheit: 1,6 Millionen US-Dollar
• Digitale Immobilienverwaltungsplattform: 2,0 Millionen US-Dollar

Marketing- und Leasingkosten

Die Marketing- und Leasingkosten für 2022 beliefen sich auf insgesamt 9,3 Millionen US-Dollar.

Kategorie der Marketingausgaben	Betrag
Werbung und Verkaufsförderung	3,7 Millionen US-Dollar
Leasingkommission	5,6 Millionen US-Dollar

Douglas Emmett, Inc. (DEI) – Geschäftsmodell: Einnahmequellen

Einnahmen aus der Vermietung von Gewerbeimmobilien

Für das Geschäftsjahr 2023 meldete Douglas Emmett Gesamtmieteinnahmen von 444,5 Millionen US-Dollar. Aufschlüsselung der Mieteinnahmen aus Gewerbeimmobilien:

Immobilientyp	Mieteinnahmen	Auslastung
Büroimmobilien	382,3 Millionen US-Dollar	92.4%
Medizinische Bürogebäude	62,2 Millionen US-Dollar	89.7%

Mieteinnahmen für Mehrfamilienhäuser

Die Einnahmen aus der Vermietung von Mehrfamilienhäusern beliefen sich im Jahr 2023 auf insgesamt 97,6 Millionen US-Dollar, mit folgender geografischer Verteilung:

• Los Angeles County: 67,3 Millionen US-Dollar
• Honolulu, Hawaii: 30,3 Millionen US-Dollar

Gebühren für die Hausverwaltung

Die Immobilienverwaltungsgebühren für 2023 beliefen sich auf 8,2 Millionen US-Dollar und wurden aus Immobilienverwaltungsdiensten Dritter generiert.

Wertsteigerung von Immobilienvermögen

Immobilienportfoliowert zum 31. Dezember 2023:

Asset-Kategorie	Gesamtwert	Wertschätzung im Jahresvergleich
Gewerbeimmobilien	3,8 Milliarden US-Dollar	4.2%
Mehrfamilienhaus	1,2 Milliarden US-Dollar	3.7%

Einnahmen aus Nebendienstleistungen

Zu den Systemdienstleistungsumsätzen für 2023 gehörten:

• Parkgebühren: 5,4 Millionen US-Dollar
• Erstattungen von Versorgungsunternehmen: 3,7 Millionen US-Dollar
• Annehmlichkeiten für Mieter: 2,1 Millionen US-Dollar

Douglas Emmett, Inc. (DEI) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Douglas Emmett, Inc. (DEI) commands the rents and market position it does. It all boils down to geography and control. Here's the breakdown of the value propositions that anchor their business model as of late 2025.

Access to premium, high-barrier-to-entry coastal submarkets in L.A. and Honolulu

Douglas Emmett, Inc. focuses its entire strategy on owning properties in premier coastal submarkets of Los Angeles and Honolulu, areas known for significant supply constraints. This isn't accidental; it's a deliberate choice to operate where new competition is nearly impossible to introduce. The company's portfolio generates 65% of its annual rent from the L.A. Westside, 23% from the L.A. Valley, and 12% from Honolulu.

The barriers to entry here are substantial. For instance, new office development in their core L.A. submarkets is effectively shut down by restrictive zoning laws and density limits like Proposition U. The data shows just how constrained this is: DEI's submarkets have seen only 3.0% new supply added as a percentage of existing stock since 2009. Compare that to other gateway markets like Boston at 30.2% or D.C. at 29.8%. This scarcity is a major value driver.

High-quality, well-maintained Class A office and luxury residential properties

The portfolio is weighted toward top-tier assets. As of mid-2025, the In-Service Portfolio includes 17.5 million square feet of Class A office properties and 4,410 apartment units. The quality of the residential assets allows them to extract premium pricing. For example, DEI reports revenue per unit of $4,667 for its Los Angeles properties, significantly higher than the benchmark group's $2,666. Furthermore, the multifamily segment boasts an operating margin of 73%, outpacing peers at 69%. The residential portfolio remains tight, reported as essentially fully leased at 99.3% in the second quarter of 2025.

Unsurpassed, responsive tenant service from a dedicated in-house team

Douglas Emmett, Inc. uses its fully integrated operating platform to deliver service directly. This means in-house leasing, space planning, legal, construction, and design services are all under one roof. This integration helps them manage costs and speed up execution. The in-house leasing agents and legal specialists allow the company to close an average of approximately three office leases each business day. This efficiency is reflected in lower costs; leasing costs averaged $5.63 per square foot per year in the third quarter of 2025, which management noted was below peer averages. They also see good stickiness, with office tenant retention for Q3 2025 coming in above the long-term average of 70%.

Stability and prestige of being the largest office landlord in its core markets

Owning the most space in a constrained market provides pricing power and prestige. Douglas Emmett, Inc. is established as the largest office landlord in both Los Angeles and Honolulu. This translates to an approximate 38% to 39% average market share of Class A office space across its targeted submarkets. The office portfolio is spread across 53 properties (10.2M SF) in L.A. Westside, 16 properties (6.8M SF) in L.A. Valley, and 2 properties (1.2M SF) in Honolulu. This scale has historically delivered stability, with the company claiming a 3.4% Compounded Annual Growth Rate over 28 years.

Here's a quick look at the scale of their office footprint:

Market Segment	Properties	Square Footage (SF)	% of Total Annual Rent (Approx.)
L.A. Westside Office	53	10.2 million	65%
L.A. Valley Office	16	6.8 million	23%
Honolulu Office	2	1.2 million	12%

The multifamily segment also contributes significantly, representing 22% of total annual rent as of Q3 2025, with 4,410 units in the in-service portfolio.

The value proposition is further supported by the structure of their leases:

• Almost all office leases have contractual annual rent increases of 3% to 5%.
• Same-property cash NOI growth for office was a healthy 2.6% in Q3 2025.
• Multifamily same-store cash NOI growth was much stronger at 6.8% in Q3 2025.

Finance: draft 13-week cash view by Friday.

Douglas Emmett, Inc. (DEI) - Canvas Business Model: Customer Relationships

Douglas Emmett, Inc. focuses its customer relationships on providing a high-touch, localized service model within its select, supply-constrained markets in Los Angeles and Honolulu. This strategy is designed to cater to its tenant base, which is predominantly small and affluent.

Dedicated in-house property management for direct, high-touch service.

Douglas Emmett, Inc. relies on a fully integrated operating platform to deliver service directly, which includes in-house leasing, space planning, legal, construction, and design services. This structure supports the high-quality service demanded in their submarkets. The operational efficiency is reflected in their cost structure relative to peers. For instance, General and administrative (G&A) expenses represent just 6.8% of Net Operating Income (NOI), significantly lower than the benchmark group's 17.8%.

The company executes approximately three office leases and nine residential leases each business day, with tenants typically moving in less than four months after signing a letter of intent.

Long-term lease agreements with small, affluent office tenants.

The office portfolio, which makes up 78% of total annual rent, is characterized by a tenant base composed of small users. Out of approximately 2,656 office leases, 96% are under 20,000 square feet. The median tenant size is around 2,400 square feet. These small, affluent tenants are often less sensitive to rent as a percentage of their revenues, prioritizing location and service. Office leases typically include contractual annual rent increases ranging from 3% to 5%. In Q3 2025, tenant retention for renewals was above the long-term average of 70%.

The relationship is maintained through consistent service delivery, even when new leasing is soft. For example, in Q3 2025, while new office leasing missed expectations, renewals performed better.

Proactive asset management to maintain premium building quality.

The focus on premium properties in high-barrier markets necessitates proactive asset management to maintain quality and command premium rents. The in-service portfolio as of late 2025 includes approximately 18 million square feet of Class A office space. Recurring tenant improvements, leasing costs, and capital expenditures are managed efficiently, accounting for 14.1% of NOI, compared to 20.4% for the benchmark group. The company is also actively pursuing office-to-residential conversions, such as the plan for the 247,000 square foot office tower at 10900 Wilshire.

The office occupancy rate ended Q3 2025 at 77.5%, with the full-year 2025 projection between 78% and 79%.

Douglas Emmett, Inc. maintains a disciplined approach to its asset base, which is concentrated in L.A. Westside (65% of annual rent), L.A. Valley (23%), and Honolulu (12%).

Here's a quick look at the portfolio scale and operational metrics supporting asset quality:

Metric	Office Portfolio Data	Multifamily Portfolio Data
In-Service Square Feet/Units	18.0 Million SF	4,410 Units
Share of Total Annual Rent	78%	22%
Q3 2025 Same-Property Cash NOI Growth	+2.6%	+6.8%
Multifamily Occupancy (Q2 2025)	N/A	99.3% or 98.8%

Investor relations team managing communication with shareholders and analysts.

Communication with the capital markets is managed by a dedicated Investor Relations team, including the Vice President of Investor Relations, Stuart McElhinney. The company communicates performance through regular earnings releases and conference calls featuring the CEO, CFO, and CIO. For shareholders, the company declared a quarterly cash dividend of $0.19 per common share, equating to an annualized dividend of $0.76 per common share. The 2025 FFO per share guidance was maintained/narrowed to a range of $1.43 to $1.47.

The relationship management involves providing forward-looking guidance and updates on balance sheet health, such as the recent refinancing of approximately $1.14 billion of debt at fixed or swapped rates between 4.8% and 5.6%.

Key investor communication points include:

• FY 2025 FFO per share guidance: $1.43 to $1.47.
• Q3 2025 FFO per share: $0.34.
• Annualized Dividend Rate: $0.76 per share.
• Debt refinanced in Q3 2025: Approximately $1.14 billion.

Finance: draft Q4 2025 cash flow projection by Monday.

Douglas Emmett, Inc. (DEI) - Canvas Business Model: Channels

Direct in-house leasing and sales team for all office and residential units drives the primary customer interface for Douglas Emmett, Inc. (DEI). As of the third quarter of 2025, the office occupancy rate stood at 77.5%. The in-house team managed leasing activity that saw July alone account for over 300,000 square feet leased. Tenant retention through renewals in the third quarter of 2025 was above the long-term average of 70%. Office leasing costs for the third quarter averaged $5.63 per square foot per year.

Property management offices are integrated directly within the buildings as part of the fully-integrated operating platform that includes in-house leasing, space planning, legal, construction, and design services. This platform supports the portfolio, which as of late 2025, consists of approximately 18 million square feet of office space and over 5,212 apartment units.

Metric	Office Portfolio Data (Q3 2025)	Multifamily Portfolio Data (Q3 2025)
Portfolio Share of Annual Rent	78%	22%
Square Feet / Units	18.2 Million SF	5,212 Units
Same-Property Cash NOI Growth (Y/Y)	2.6%	6.8%
Average Office Lease Cost (Per SF/Year)	$5.63	N/A

The corporate website, www.douglasemmett.com/investors, is the channel for financial disclosures, hosting packages like the Second Quarter 2025 and Third Quarter 2025 Earnings Results. For investor calls, the dial-in numbers are 888-349-0488 (U.S.) or 412-542-4156 (International).

Real estate brokers and joint venture partners are key for sourcing new opportunities and managing capital structure. Douglas Emmett, Inc. was actively working on a number of off-market office opportunities with joint venture partners during the third quarter of 2025. Capital markets activity channels include significant debt management, such as refinancing almost $1.2 billion of debt in the third quarter of 2025, and a specific completion of a $941 Million Refinance in September 2025.

• Dominant market share in submarkets: approximately 39% average share of Class A office space.
• Median office tenant size: approximately 2,400 square feet.
• Annualized 2025 dividend: $0.76 per share.
• Projected 2025 FFO per fully diluted share: between $1.43 and $1.47.

Douglas Emmett, Inc. (DEI) - Canvas Business Model: Customer Segments

You're looking at the core clientele for Douglas Emmett, Inc. (DEI) as of late 2025, which centers on two distinct, high-value real estate groups: small-to-mid-sized professional firms and affluent residential renters, all while servicing a shareholder base focused on consistent income.

The office segment is heavily weighted toward smaller professional users. Douglas Emmett, Inc. (DEI) serves small to mid-sized professional firms, with the median office lease size reported at approximately 2,400 square feet based on Q3 2025 data. This focus on smaller footprints is intentional; 96% of their office tenants occupy under 20,000 square feet. This strategy is designed to mitigate risk by avoiding dependence on a few large tenants, as no single tenant accounted for more than 10% of total revenues in 2023.

For the residential side, Douglas Emmett, Inc. (DEI) targets high-end renters in their premier coastal communities, specifically in Los Angeles and Honolulu. The appeal is the affluence of these submarkets, where multifamily properties command premium rents, such as an average of $4,667 per unit in Los Angeles in Q3 2025, compared to a benchmark group average of $2,666 per unit. The residential portfolio remains a source of robust revenue growth, with same-property cash NOI increasing by 6.8% in Q3 2025.

The third key segment is the institutional investors and shareholders of Douglas Emmett, Inc. (DEI), a Real Estate Investment Trust (REIT). These stakeholders are primarily focused on the income stream provided by the company, evidenced by the declared quarterly cash dividend of $0.19 per share, equating to an annualized dividend of $0.76 per share for 2025. This annualized amount was consistent across recent declarations in late 2025.

The office tenant base is highly diversified across various sectors, which helps insulate Douglas Emmett, Inc. (DEI) from industry-specific downturns. The largest concentrations of office tenants by percentage of total annual rent are:

• Legal services: 19.6%
• Financial services: 16.4%
• Real estate: 13.4%

To give you a more granular view of the office tenant mix as of late 2025, here is a breakdown of the annual rent contribution by sector:

Industry Sector	Percentage of Annual Rent
Legal	19.3%
Financial Services	16.3%
Real Estate	13.3%
Entertainment	9.9%
Health Services	9.9%
Accounting & Consulting	9.0%
Retail	5.6%
Tech	5.0%

Further detailing the office portfolio's customer profile:

• Total office leases in the portfolio: Approximately 2,700.
• Percentage of tenants under 20,000 square feet: 96%.
• Office portfolio square footage: Approximately 18.2M SF.
• Office portfolio share of Total Annual Rent: 78%.

Finance: review the Q4 2025 leasing pipeline against the 2026 expiration schedule by next Tuesday.

Douglas Emmett, Inc. (DEI) - Canvas Business Model: Cost Structure

You're looking at the core outflows for Douglas Emmett, Inc. (DEI) as of late 2025, and the numbers clearly show where the pressure points are, especially with debt costs rising. The most significant line item here is the interest expense on property-level debt. For the full fiscal year 2025, management projects this expense to land between $260 million and $270 million. This is a major cost driver, outpacing operational gains at times, as seen when Adjusted Funds From Operations (AFFO) decreased in Q3 2025.

The structure of that debt is key to understanding the interest cost. To manage this, Douglas Emmett, Inc. has been actively refinancing. For instance, a recent nonrecourse office term loan refinanced in July 2025 has its interest rate effectively fixed at 5.6% through July 2030. That's a concrete number you need to track. On the residential side, new term loans closed in August 2025 bear a fixed rate of 4.8%.

Next up are the day-to-day costs of keeping the properties running-your property operating expenses. This bucket includes utilities, maintenance, and property taxes. While we don't have a single total dollar figure for all operating expenses for 2025, we know that recurring capital expenditures (CapEx) for tenant improvements and leasing expenses are a factor, contributing to the AFFO decline in Q3 2025. To give you a sense of leasing cost control, office leasing costs during the third quarter of 2025 averaged only $5.63 per square foot per year, which is well below the average for other office REITs in their benchmark group.

Honestly, the overhead costs are managed quite tightly. General and Administrative (G&A) expenses remain low, which is a testament to their focused operational platform. For the full year 2025, G&A is expected to be between $46 million and $50 million. More precisely, in the third quarter, G&A was reported at approximately 4.3% of revenue. That's a lean operation, especially when you consider their trailing twelve months revenue was about $1.00B as of Q3 2025.

Here's a quick look at the key cost-related figures we have for the 2025 period:

Cost Component	Latest Available Figure / Projection	Period / Context
Projected Total Interest Expense	$260 million to $270 million	Fiscal Year 2025 Projection
Projected G&A Expense	$46 million to $50 million	Fiscal Year 2025 Projection
G&A as Percentage of Revenue	4.3%	Q3 2025
Office Loan Fixed Interest Rate	5.6%	Recent July 2025 Refinancing
Residential Loan Fixed Interest Rate	4.8%	Recent August 2025 Financing
Office Leasing Cost (Avg.)	$5.63 per square foot per year	Q3 2025
Trailing Twelve Months Revenue	$999.7 million	As of Q3 2025

You can see the cost structure is heavily weighted toward debt service right now, which is typical for a REIT, but the fixed-rate strategy is locking in rates on a good chunk of that exposure. The low G&A ratio shows operational discipline, but the property-level costs-utilities, maintenance, and the necessary CapEx for tenant improvements-are embedded within the NOI calculation and impact AFFO directly.

The specific components that make up property operating expenses are generally covered by the revenue generated, but the timing of property tax refunds can make year-over-year comparisons look volatile, as they are unpredictable. The company is managing tenant improvements and leasing costs, keeping them below peer benchmarks where possible.

You should definitely keep an eye on the interest expense guidance against the TTM revenue of nearly $1.00B, as that ratio dictates a lot of the cash flow available for dividends and reinvestment.

Douglas Emmett, Inc. (DEI) - Canvas Business Model: Revenue Streams

The revenue streams for Douglas Emmett, Inc. (DEI) are fundamentally anchored in real estate leasing across its dual-asset class portfolio of office and multifamily properties in high-barrier Los Angeles and Honolulu markets.

Office rental income forms the largest component, representing approximately 78% of total annual rent. The office portfolio comprises 18 million square feet of space, which is the basis for this significant portion of recurring revenue.

Complementing the office segment is multifamily rental income, which contributes approximately 22% of total annual rent. This residential segment is a key focus for growth, with projections that stabilized developments could increase its revenue share to 25% in the years ahead.

The company also captures tenant recovery revenues for recoverable operating expenses, which flow through to Net Operating Income (NOI) calculations. While not broken out as a standalone revenue line item in the required format, its impact is visible in the same-property NOI figures. For instance, same-property cash NOI increased 3.5% year-over-year in Q3 2025.

A notable, though unpredictable, element impacting recent results includes property tax refunds. These refunds provided a temporary boost to Q3 2025 NOI, as the office same-property cash NOI growth of 2.6% was assisted by these items.

Looking forward, Douglas Emmett, Inc. has confirmed its full-year 2025 guidance for Funds From Operations (FFO) per share, projecting a range between $1.43 and $1.47.

Here's a quick look at the revenue-driving segments based on the latest portfolio breakdown:

Revenue Source Category	Portfolio Contribution (Approximate)	Key Metric/Data Point
Office Rental Income	78% of total annual rent	18M square feet
Multifamily Rental Income	22% of total annual rent	4,410 units

The operational performance across these streams in Q3 2025 showed distinct differences:

• Multifamily same-property cash NOI increased by 6.8% year-over-year.
• Office same-property cash NOI increased by 2.6% year-over-year.
• The company reported Q3 2025 revenue of $250.58 million.
• FFO per share for Q3 2025 was $0.34 per share.
• Multifamily properties command premium rents of $4,667 per unit in Los Angeles versus a benchmark of $2,666.

Furthermore, the contractual nature of office leases supports future revenue stability; almost all office leases include contractual annual rent increases of 3% to 5%.

Finance: draft 13-week cash view by Friday.