Douglas Emmett Q2 net loss $(6)M; FFO down to $0.37; narrows 2025 guidance

Douglas Emmett Inc

2025-Q2 EPS reported $0.20 revenue$503,969,000

Revenue $252M (+2.4% YoY); net loss $(6)M vs income $11M; FFO per share $0.37 vs $0.46.
Same Property Cash NOI $151M (-0.7% YoY); excluding prior-year property tax refunds, slightly positive.
Leased 973k sq ft office (300k new); straight-line rents +2.4%, cash rents -13.3%.
Announced conversion of 10900 Wilshire office to 320-unit apartments; project cost $200-250M.
Post-quarter refinanced $200M loan; floating SOFR+200 bps swapped to 5.6% fixed, matures 2032.

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