Encino Office Building Sold for $61 Million

Douglas Emmett Inc., a Santa Monica-based real estate investment trust, announced Thursday that it has acquired a 191,000-square-foot, multi-tenant office building in Encino for $61 million, or $319 per square foot.

With the addition of the building at 16501 Ventura Blvd., Douglas Emmett's total office portfolio now consists of 60 properties totaling 15.1 million square feet.

Douglas Emmett also owns nine apartment complexes in Los Angeles and Honolulu totaling about 2,900 units.

-- City News Service