Douglas Emmett Realty Advisors is negotiating to buy two Century City office towers 1900 and 1901 Avenue of the Stars for $225 million, real estate sources said.
The buildings, which encompass more than 1 million square feet of space, are being sold by Tokyo-based Shuwa Corp.
The properties were part of Shuwa's 8.5-million-square-foot portfolio of U.S. properties, which includes Arco Plaza in downtown Los Angeles. Shuwa had tried to find one buyer for the entire portfolio, but later decided to sell properties individually, after bids for the portfolio came in lower than expected. None of the other properties have yet sold.
Kevin Dretzka, managing director of Eastdil Realty, which is handling the sale, declined to comment.
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