Douglas Emmettis a New York Stock Exchange listed company
(ticker symbol “DEI”). We own and operate approximately 15.3 million square feet of Class
A office space and 2,900 apartment units within the premier coastal submarkets of
Los Angeles and Honolulu. We rely on a focused business strategy that we developed
over the last four decades:
First, we select submarkets that are supply constrained, with high barriers
to entry, key lifestyle amenities, proximity to high-end executive housing and
a strong, diverse economic base. Our submarkets are dominated by small, affluent
tenants, whose rent can be a small portion of their revenues and thus not the
paramount factor in their leasing decision.
Once we select a submarket, we follow a disciplined acquisition strategy
of gaining substantial market share to provide us with extensive local market
information, pricing power in lease and vendor negotiations, economies of scale
in property management, and an enhanced ability to identify and negotiate investment
opportunities. In our target Los Angeles submarkets, we own on average about
25% of the Class A office space; in Honolulu, we own and operate about 34% of
the Central Business District Class A office space.
Finally, our fully integrated operating platform provides the unsurpassed
tenant service demanded in our submarkets, with in-house leasing, proactive
asset and property management, and internal design and construction services.