道格拉斯艾美特 2026年季度报告

Abbreviations used in this Report: Forward Looking Statements This Report contains forward-looking statements within the meaning of the Section 27A of the Securities Act and Section 21E of theExchange Act. You can find many (but not all) of these statements by looking for words such as “believe”, “expect”, “anticipate”, “estimate”,“approximate”, “intend”, “plan”, “would”, “could”, “may”, “future” or other similar expressions in this Report. We claim the protection of thesafe harbor contained in the Private Securities Litigation Reform Act of 1995. We caution investors that any forward-looking statements used inthis Report, or those that we make orally or in writing from time to time, are based on our beliefs and assumptions, as well as informationcurrently available to us. Actual outcomes will be affected by known and unknown risks, trends, uncertainties and factors beyond our control orability to predict. Although we believe that our assumptions are reasonable, they are not guarantees of future performance and some will •adverse economic, political or real estate developments affecting Southern California or Honolulu, Hawaii;•competition from other real estate investors in our markets;•decreasing rental rates or increasing tenant incentive and vacancy rates;•reduced demand for office space, including as a result of remote work and flexible working arrangements that allow workfrom remote locations other than the employer’s office premises;•defaults on, early terminations of, or non-renewal of leases by tenants;•elevated or increasing interest rates;•increases in operating and construction costs, including due to inflation and actual or potential tariffs or trade disruptions;•insufficient cash flows to service our outstanding debt or pay rent on ground leases;•difficulties in raising capital;•inability to liquidate real estate or other investments quickly;•adverse changes to rent control laws and regulations;•environmental uncertainties;•natural disasters;•fire and other property damage;•insufficient insurance, or increases in insurance costs;•inability to successfully expand into new markets and submarkets;•difficulties in identifying properties to acquire and failure to complete acquisitions successfully;•failure to successfully operate acquired properties;•risks associated with property development;•risks associated with JVs;•conflicts of interest with our officers and reliance on key personnel; Douglas Emmett, Inc.Consolidated Balance Sheets Douglas Emmett, Inc.Consolidated Statements of Comprehensive (Loss) Income Douglas Emmett, Inc.Consolidated Statements of Equity 1. Overview Organization and Business Description Douglas Emmett, Inc. is a fully integrated, self-administered and self-managed REIT. We are one of the largest owners and operators ofhigh-quality office and multifamily properties in Los Angeles County, California and Honolulu, Hawaii. Through our interest in our OperatingPartnership, its subsidiaries, and our consolidated JVs, we focus on owning, acquiring, developing and managing a substantial market share oftop-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints, high-end executive At March31, 2026, our Total Portfolio consisted of (i) a 18.0 million square foot office portfolio, which included a 456 thousand squarefoot office property under development, (ii) 5,445 multifamily apartment units, which included 1,035 apartment units under development, and(iii) fee interests in two parcels of land from which we receive rent under ground leases. As of March31, 2026, our portfolio consisted of the Office Total Basis of Presentation The accompanying consolidated financial statements are the consolidated financial statements of Douglas Emmett, Inc. and itssubsidiaries, including our Operating Partnership and our consolidated JVs.All significant intercompany balances and transactions have been We consolidate entities in which we are considered to be the primary beneficiary of a VIE or have a majority of the voting interest of theentity. We are deemed to be the primary beneficiary of a VIE when we have (i) the power to direct the activities of that VIE that mostsignificantly impact its economic performance, and (ii) the obligation to absorb losses or the right to receive benefits that could potentially besignificant to the VIE. We do not consolidate entities in which the other parties have substantive kick-out rights to remove our power to direct We consolidate our Operating Partnership through which we conduct substantially all of our business, and own, directly and throughsubsidiaries, substantially all of our assets, and are obligated to repay substantially all of our liabilities. The consolidated debt, excluding ourconsolidated JVs, was $3.83 billion and $3.81 billion as of March31, 2026 and December31, 2025. See Note 7. We also consolidate six JVsthrough our Operating Partnership. We consolidate our Operating