Stars Aligned for $155-Mil Century City Deal

LOS ANGELES-Southland-based Douglas Emmett Realty Advisors and San Jose-headquartered DivcoWest Properties are expected to announce this week that DivcoWest has sold the 1901 Avenue of the Stars building it acquired a few years ago for about $155 million, brokers familiar with the negotiations tell GlobeSt.com.

Privately held Douglas Emmett has already signed a contract to buy the 482,000-sf office tower that stands between Constellation and Santa Boulevards in Century City. “They [DivcoWest and Douglas Emmett] have a deal sewn up, but there’s still some paper work to complete,” says one Westside broker close to the talks. “Unless something really surprising happens, they should announce the deal within the next couple of days.”