Anderson Real Estate Closes $550M Refi on Century City Twin Towers

Anderson Real Estate Group has closed a $550 million refinancing of its twin office towers at 1800 and 1900 Avenue of the Stars in Century City, according to Commercial Observer and the company’s own announcement. The figure has not been independently verified against a county or federal filing; it is attributed here to that reporting and to Anderson’s statement.

This is a loan, not a sale. No Documentary Transfer Tax and no Measure ULA exposure applies: both taxes attach only to a transfer of ownership, not to a lender recording a new deed of trust against an unsold asset.

Anderson Real Estate Group is also a distinct firm from Kayne Anderson Real Estate, a separate investment manager the names sometimes get conflated with. This refinancing belongs to Anderson Real Estate Group alone.

Why it matters

Century City’s office market is a bellwether for whether well-capitalized landlords can still refinance trophy assets as legacy CMBS loans from the 2010s come due. A $550 million refinancing, if it holds up as reported, would be one of the largest single-campus office financings in Los Angeles this year, arranged through Eastdil Secured with Wells Fargo as lead lender and JPMorgan Chase as a secondary lender, per the same reporting.

The deal also signals lenders will still underwrite large occupied office campuses in supply-constrained West LA submarkets, even in a selective credit cycle. Anderson has reportedly put more than $300 million into renovating the campus since 2021, and Ares Management signed a roughly 206,000-square-foot, 12-year lease at 1800 Avenue of the Stars in 2023, among the factors cited for its leased rate in the mid-to-high 90s percent.

The numbers

Per Commercial Observer and the company’s announcement: the $550 million loan is a CMBS financing, expected to retire about $300 million in existing debt and return roughly $219 million in cash to ownership. The campus totals approximately 940,000 square feet across the two towers. Reported leased percentages vary slightly by source, the company citing a figure near 98 percent and other coverage citing a figure near 95.5 percent, likely a difference in measurement date or methodology rather than a disputed fact.

None of these figures come from a county recorder deed of trust or an SEC filing pulled for this story. A Deed of Trust would ordinarily record with the LA County Registrar-Recorder against the parcels, and that record was not reachable within this edition’s window. Treat the dollar figures as sourced to trade press and the company, not independently confirmed against the recorded instrument.

What’s next

Watch for the Deed of Trust to post in LA County’s recorded-document index, which would independently confirm the lender syndicate, the loan amount, and the closing date (reported variously as October 12 or October 15). Also watch whether the CMBS loan gets securitized into a single-asset, single-borrower deal, putting loan-level reporting in front of Trepp or a trustee site with a harder number than the press accounts currently provide.

For how Century City’s permit and deed records diverged on an unrelated filing this month, see Century City permit-deed value gap. For broader coverage, see the Los Angeles market hub.