Douglas Emmett Inc (DEI) Q4 2019 Earnings Call Transcript

Douglas Emmett Inc (DEI) Q4 2019 Earnings Call Transcript

Douglas Emmett Inc ( NYSE:DEI ) Q4 2019 Earnings Call Feb 12, 2020 , 2:00 p.m. ET. I will now turn the conference over to Stuart McElhinney, Vice President of Investor Relations for Douglas Emmett.. You can also find our earnings package at the Investor Relations section of our website.. You can find reconciliations of non-GAAP financial measures discussed during today's call in the earnings package.. During the course of this call, we will make forward-looking statements.. Our actual future results can be expected to differ from our expectations, and those differences may be material.. The straight-line value of our office leases signed during the year was 28% greater than the prior leases for the same space.. We significantly strengthened our balance sheet during the year, refinancing approximately $2 billion of debt, which added almost five years to that debt average term.. We grew our office portfolio by 38% from 13.3 million to 18.3 million square feet.. We grew our multifamily portfolio by 45% to over 4,000 units.. Our total shareholder return for the decade was 304%, 45% higher than the RMS Index and more than double the SNL US Office REIT Index.. In Q4, we signed 178 office leases,