Douglas Emmett is a REIT that owns and operates office and multifamily properties in high-end coastal submarkets of Los Angeles and Honolulu. The portfolio includes 70 office buildings totaling 18M sq ft and 15 multifamily communities with 5,445 units, making Douglas Emmett one of the largest Class A office landlords on LA's Westside. The company targets supply-constrained, amenity-rich neighborhoods and deliberately concentrates ownership within each submarket, holding roughly 39% of Class A office space per submarket, which Douglas Emmett argues gives it local pricing power. Office tenants are predominantly small professional services firms — lawyers, accountants, financial firms, and healthcare providers — with a median tenant occupying roughly 2,400 sq ft. Multifamily properties serve high-income renters on the Westside and in Honolulu, running near full occupancy. Douglas Emmett collects rent on long-term office leases with annual escalators and shorter-term apartment leases, and manages the full platform in-house, including leasing, property management, legal, and construction. The company funds growth through operating cash flow, non-recourse property-level debt, and joint ventures with institutional investors where Douglas Emmett retains management fees and promoted interests. Growth initiatives include leasing up office vacancy, residential development on existing land parcels, and off-market office acquisitions through JV structures.