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Blackstone Said in Talks to Sell L.A. Towers to Douglas Emmett

  • Westwood-area towers expected to sell for more than $1 billion
  • Buildings among remaining assets from Equity Office takeover

Blackstone Group LP is in talks to sell four Los Angeles office towers to a group led by Douglas Emmett Inc. for more than $1 billion, according to a person with knowledge of the negotiations. 

The buildings total 1.7 million square feet (158,000 square meters). Three of the towers are on Wilshire Boulevard -- at 10880, 10940 and 10960 Wilshire -- in the Westwood commercial district near the campus of University of California, Los Angeles, a person with knowledge of Blackstone’s plans said in September when the properties were put on the market. The fourth building, known as Westwood Center, is at 1100 Glendon Ave.