Jordan L. Kaplan Of Douglas Emmett Acquires Medical Office Portfolio From Shankh Mitra Of Welltower For $260M

The Bedford Collection medical office portfolio, located at 400 North Bedford Drive in the Beverly Hills market, has been acquired for a notable price of $260 million. This asset encompasses 246,000 square feet, resulting in a price per square foot of approximately $1,057. The portfolio consists of five buildings that are currently 95% leased.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $260,000,000
• Buyer: Jordan L. Kaplan - Douglas Emmett
• Seller: Shankh Mitra - Welltower
• Square Footage: 246,000
• Price per Square Foot: $1,057
• Market: Beverly Hills
• Financing: $150 million in equity, with 13% from Douglas Emmett, and a $130 million five-year interest-only loan
• Portfolio Composition: Five-building complex
• Lease Status: 95% leased
• Welltower Strategic Shift: Moving away from medical office towards senior housing

A joint venture led by Douglas Emmett is responsible for the acquisition of the Bedford Collection, which now expands their medical office footprint in Beverly Hills to a total of 2.4 million square feet, representing 33% of the Class A inventory in that market.