Douglas Emmett Inc. (DEI) 2006年年度报告「NYSE」.pdf

1、Dear Fellow Shareholders,his year was a turning point inour companys history.We successfully emerged as a fully integrated Real Estate Investment Trust(REIT)on October 30,2006 through our Initial Public Offering ffff(IPO)which ranked as the largest REIT IPO in history.We sold approximately 46%of the

2、 equity in our private struc-ture to the newly formed REIT,rais-ing approximately$1.6 billion in grossproceeds.The offTh ering was made up of ffff75,900,000 common shares that tradedat the top of the range$21.00 per share,and we ended our first calendarfiyear as a public company with a closing stock

3、 price of$26.59 per share.Share-holders of record received an annualized dividend of 70 cents per share.While we were preoccupied for most of 2006 completing the tasks required tobecome a public company,our opera-tional team,under the leadership of our Chief Operating Officer,Ken Panzer,ffiremained

4、focused on improving the Companys operations.As a result of these initiatives,we ended the year with our entire real estate portfolio being 94.3%leased and our residential portfo-lio 99.2%leased.Th e process of converting our companys Thpolicies and procedures in response to the current requirements

5、 placed upon a public company has its challenges but italso presents opportunities.Our goal wasto create a seamless transition from the private structure to a public company.Th erefore,we supplemented our coreThDouglas Emmett,Inc.Annual Report 2006WESTWOODWW PLACEWestwood,CaliforniaT hOur goal was t

6、o create a seamless transition from the private structure to a public company.Therefore,we supplemented our core group of real estate professionals,who had been with our predecessor for many years,with a talented group of managers that possess extensive public company experience in accounting,public