Blackstone Looking to Offload Four LA Towers for $1B

Blackstone has put four LA office properties on the market, as it continues to shed assets from its 2007 buyout of Equity Office. The towers total about 1.7M SF of prime space in LA, and the nation's largest real estate private equity firm has brought in Eastdil Secured to handle marketing the portfolio, which could fetch more than $1B. Three of the Blackstone assets are on Wilshire Boulevard (10940 Wilshire seen here) and the fourth is in Westwood. Blackstone should finish selling off most of the Equity Office assets by the end of this year, with some likely to be sold next year. And while Blackstone is usually buying up real estate, it's also been shedding lately, as this follows a report last month it agreed to sell two Boston office buildings to JP Morgan and Oxford Properties for about $1.3B. [Bloomberg]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Los Angeles Newsletters
Related Stories

Chicago Office Deals Feature More Scrutiny, Added Tenant Protections

Tishman Speyer Retakes Chrysler Building, Plans $235M Renovation

Activist Investor Buys Stake In Empire State Building Owner

San Francisco Office Market Climbs, Fueling Demand For Large Blocks, Luxury Space

Affinius Relinquishes Big Office Building Next To Capital One Arena

DHS Buys 3 More Detention Facilities From The Geo Group For $950M

One Thomas Circle, The Elevated Workplace For The Way D.C. Works

Hedge Fund Breaks NYC Record With $375-Per-SF Office Lease

Renewals Dominate In Years-Low Office Leasing Quarter

Amazon, LA Olympics Organizer Take Over 39-Acre Site Formerly Home To Forever 21

Walt Disney Pays $115M For Former Yamaha Campus: The Los Angeles Deal Sheet

University City Office Market Improves Despite Slow Quarter In Philly