REAL ESTATE

Talks Begin on Century City Complex Sale: Prudential Insurance Co. of America said it has begun talks with a buyer for the landmark Century Plaza Towers and the adjoining ABC Entertainment Center. Prudential spokesman Rick Matthews declined to identify the buyer, but a person familiar with the negotiations said that investment banker J.P. Morgan had beat out a field of rival bidders for the property dominated by twin, 44-story skyscrapers. Matthews said it could take several weeks before a final sales agreement is reached for the complex, which includes more than 2 million square feet of office space and underground parking for 5,000 vehicles. The complex is expected to sell for about $480 million. Prudential put its Century City property on the block earlier this year as part of a plan to reduce its real estate holdings.