The Santa Monica-based REIT now controls one-third of the Golden Triangle’s medical office space
Real estate investment trust Douglas Emmett, Inc. has finalized a $260 million deal to acquire the Bedford Collection, a premier medical office portfolio that grants the firm control over approximately one-third of all medical suites in the city’s prestigious “Golden Triangle.”
The 246,000-square-foot outpatient portfolio encompasses nearly 80% of the 400 block of Bedford Drive. To facilitate the purchase, Douglas Emmett formed a $150 million equity joint venture, contributing 13% of the capital while managing the partnership. The transaction was further supported by a $130 million secured, non-recourse loan set to mature in April 2031, carrying an interest rate of SOFR plus 1.70%.
With a current occupancy rate of 95%, the portfolio serves an elite roster of 120 tenants, ranging from world-renowned specialists to high-grossing concierge physicians. The assets are strategically located in a high-barrier market where the average neighborhood home price exceeds $7.5 million, sitting less than two miles from both the UCLA Ronald Reagan and Cedars-Sinai medical centers.
“This acquisition further solidifies Douglas Emmett’s dominant position in Beverly Hills,” the company stated, noting that its local holdings now total 16 buildings and 2.4 million square feet.
The move shows the resilience of the Beverly Hills Class A office market, particularly within the healthcare sector, which is characterized by historically low tenant turnover and sustained demand. Following this addition, Douglas Emmett now manages roughly 33% of the city’s total Class A office inventory.
