Douglas Emmett $(DEI)$ reported FY 2025 net income attributable to common stockholders of USD 16.27 million and funds from operations (FFO) of USD 295.29 million (down 14.5%). FY 2025 revenues included office rental revenue and tenant recoveries of USD 686.21 million and multifamily revenue of USD 198.47 million (+4.4%), while interest expense rose to USD 266.68 million (+16.2%). Cash provided by operating activities was USD 386.85 million (down 5.3%), with cash and cash equivalents of USD 340.8 million at year-end. In its in-service portfolio as of December 31, 2025, DEI reported office occupancy of 78.0% and multifamily occupancy of 98.0%, with office leased rate at 80.4% and multifamily leased rate at 99.5%. The company said FY 2025 results were impacted by inflation and higher interest rates, lower office occupancy, and the consolidation of Partnership X starting January 1, 2025, which also led to a USD 47.21 million gain from consolidation of a JV and ended “income from unconsolidated Fund” in FY 2025 (previously USD 2.59 million in FY 2024). Key updates included a JV acquisition of 10900 Wilshire Boulevard in Westwood and plans to develop a mixed-use project with up to 323 apartment units, the ongoing conversion of Studio Plaza in Burbank to a multi-tenant office building, and continued multi-year reconstruction of The Landmark Residences (formerly Barrington Plaza), supported by a non-recourse construction loan of up to USD 375 million (USD 49.5 million drawn as of December 31, 2025).

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