Posted at 10:56 a.m., Wednesday, February 14, 2007
Yale University invests in REIT with Hawai'i ties
Advertiser Staff
Yale University, the world's second-richest school, has taken a 10 percent stake in a real estate investment trust with holdings in Hawaii.Yale owned 11.8 million shares of Douglas Emmett Inc. as of Dec. 31, an amount worth about $328 million today, according to a filing with the U.S. Securities and Exchange Commission.
Yale, in New Haven, Connecticut, has an endowment of $18 billion, trailing only Harvard University's $29.2 billion, Bloomberg News reported.
Douglas Emmett in October had the biggest initial public offering for a U.S. real estate investment trust.
The holding makes Yale the largest investor outside of Douglas Emmett executives and employees. The Santa Monica, California-based company, raised $1.39 billion in its Oct. 24 public offering.
