Blackstone in talks to sell four LA towers to Douglas Emmett for $1B-plus

The buildings are some of the last remnants of Blackstone's pre-recession buying spree

TRD LOS ANGELES /
Nov.November 30, 2015 06:51 PM

Real estate giant the Blackstone Group is negotiating to sell four Los Angeles office towers to local landlord Douglas Emmett Inc. for more than $1 billion.

If the deal closes, it would be one of the largest office sales in Los Angeles in recent years, according to the Wall Street Journal, which first broke the news.

The four buildings, which comprise a total of 1.7 million square feet, are located at 10880, 10940 and 10960 Wilshire Boulevard near the University of California Los Angeles campus and at 1100 Glendon Avenue. They’re slated to produce about $51 million in income this year, with tenants including UCLA and CBS, according to listing broker Eastdil Secured.

The buildings are among the remaining assets from Blackstone pre-recession buying spree in 2007 and 2008. [WSJ]Katherine Clarke


Related Articles

arrow_forward_ios
From left, clockwise: Daydream Apartments’ Griffin and Grace on Spring, Douglas Emmett’s The Glendon at Westwood and Carlyle Group’s Sofia Los Angeles

Here are LA’s 5 biggest multifamily sales of 2019

Long Beach area and San Fernando Valley attract biggest industrial sales in 2019

Here are LA County’s biggest industrial sales of 2019

Hollywood & Highland

Here are LA County’s biggest retail sales of 2019

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

arrow_forward_ios
Loading...