The twin-towered 21st Century Plaza project stands in the 6300 block of Owensmouth Ave., in the heart of Warner Center. Each tower has 11 stories and is fully leased, with 21st Century occupying nearly all the space. Other tenants include Aetna Life Insurance Co. and Regus Business Centres Corp.
The seller is an affiliate of LA-based Tishman International Co. A brokerage team from Eastdil Realty Co. brokered both sides of the transaction.
Bentley Forbes, which also is based in Los Angeles, is a family-run investment company headed by C. Frederick Wehba and his son, C. Frederick Wehba II. The purchase pushes the company's US real estate portfolio to about $900 million, the firm says.
The announcement of the sale of 21st Century Plaza came just hours after GlobeSt.com exclusively reported that international real estate conglomerate Grosvenor has paid an estimated $40 million to Nomura Warner Center Associates LP for the 252,973-sf Warner Corporate Center. The center, at 21300 Victory Blvd., is just a few blocks away from 21st Century Plaza.
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