LA briefs: Starwood bets big on West Hollywood hotel, Blackstone cashes out on three offices … & more

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From the June issue: The 286-room James hotel has yet to open, but it’s already on the chopping block. CIM Group is nearing a deal to sell the West Hollywood property to Barry Sternlicht’s Starwood Capital for close to $975,000 a key, bringing the total sale price to nearly $280 million, though there is no hard contract yet. Spring cleaning at the Blackstone Group means a massive payday. The investment firm closed on the sale of a two-building portfolio in Santa Monica for $352.8 million. The golden couple of music are rumored to have made a $120 million offer on an unfinished Bel Air spec mansion. The six-structure compound totals 30,000 square feet and has eight bedrooms, 11 bathrooms, four pools, a basketball court, a recording studio and staff quarters.