The Honolulu Club and the building it's in have been sold to California-based real estate investment trust Douglas Emmett Inc., adding more Hawai'i property to the firm's portfolio.

Douglas Emmett said it paid about $18 million for the 78,298-square-foot office building at 932 Ward Ave. anchored by the private athletic and social club. The acquisition was made as a joint venture with local real estate investor Dick Gushman, who has been the company's local partner in most of its past Hawai'i purchases.

The Honolulu Club will continue operating in the building as usual, according to a representative of the buyer.

The purchase gives Douglas Emmett 757,635 square feet of rentable building space on O'ahu, including office high-rises Bishop Place and Harbor Court. It also owns 1,098 residential rental units on O'ahu, including the Villas at Kunia.