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CENTURY CITY, CA-The 28-story, 606,000-square-foot 1900 Avenue of the Stars office tower in the middle of Century City has been refinanced with a new $88 million loan, according to Newmark Realty Capital Inc. Newmark principal George H. Mitsanas of the company’s Los Angeles office arranged the financing, via one of Newmark’s servicing correspondents, along with Newmark associate vice presidents Monique Monzon and Peter Hillakas.

The 1900 Avenue of the Stars tower is owned by Century City-based Duesenberg Investment Co., which is owned by billionaire John Anderson. The building is managed by Century City-based Topa Management, another Anderson company, which manages its own properties and is also a third-party property manager.

Duesenberg acquired 1900 Avenue of the Stars in 2002 from Divco West Properties. Anderson, for whom UCLA’s Anderson Graduate School of Business was named, owns an extensive portfolio of properties via Topa. Topa Management Co.’s commercial and residential income property totals approximately four million square feet of space, including high-rise and low-rise office buildings, shopping centers, industrial and mixed-use projects throughout California and Hawaii. In addition, Topa manages some 3,000 residential units in 40 family and senior citizen properties.

The 1900 Avenue of the Stars building was built in 1969 and since then has undergone two renovations, one in 1993 and another in 2000, according to the building’s web site. The class-A tower is situated on a site of 2.5 acres and is known as one of the premier addresses on the Westside, with tenants such as SunAmerica, 20th Century Fox and HBO. Terms of the financing were undisclosed.

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