REIT comments on Apartment Unit Fire
SANTA MONICA, Calif., Oct. 20, 2013 /PRNewswire/ -- Douglas Emmett, Inc. (NYSE: DEI), a real estate investment trust (REIT), announced that there was a fire in a single unit at its Barrington Plaza apartment building on October 18, 2013. The Los Angeles Fire Department was able to quickly contain the fire to a single unit and the corridor on the 11th floor, although some nearby units incurred smoke and water damage. Unfortunately, several tenants suffered from smoke inhalation. The cause of the fire is under investigation.
The building had been inspected earlier this year by the Fire Department, which confirmed that the building was in compliance with applicable law and that the fire systems and alarms were functioning correctly. Most tenants were able to return to their units, and the Company expects that most of the remaining units will be habitable within the next few days. Douglas Emmett has been working with tenants to minimize the disruption in the meantime.
About Douglas Emmett, Inc.
Douglas Emmett, Inc. (DEI) is a fully integrated, self-administered and self-managed real estate investment trust (REIT), and one of the largest owners and operators of high-quality office and multifamily properties located in the premier coastal submarkets of Los Angeles and Honolulu. Douglas Emmett focuses on owning and acquiring a substantial share of top-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints, high-end executive housing and key lifestyle amenities. For more information about Douglas Emmett, please visit our website at www.douglasemmett.com.
Safe Harbor Statement
Except for the historical facts, the statements in this press release regarding Douglas Emmett's business activities are forward-looking statements based on the beliefs of, assumptions made by, and information currently available to us about known and unknown risks, trends, uncertainties and factors that are beyond our control or ability to predict. Although we believe that our assumptions are reasonable, they are not guarantees of future performance and some will inevitably prove to be incorrect. As a result, our actual future results can be expected to differ from our expectations, and those differences may be material. Accordingly, investors should use caution in relying on forward-looking statements to anticipate future results or trends. For a discussion of some of the risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission.
Stuart McElhinney, Vice President – Investor Relations 310.255.7751 firstname.lastname@example.org
SOURCE Douglas Emmett, Inc.