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General Electric (GE) and other investors are in the final negotiations to  purchase Arden Realty. Arden Realty is one of the larger Real Estate Investment Trusts in the country.

Citing people familiar with the situation, the newspaper said GE is expected to team up with the other investors or turn over a portion of Arden’s portfolio to them.

But the Journal said its sources did not have the names of the partners or a deal value. Arden’s market capitalization is more than $3.1 billion.

According to the report a deal could be announced as early as today if the talks succeed. via Reuters

More from the Wall Street Journal:

Los Angeles-based Arden says it is the largest landlord in Southern California with more than 18 million square feet of office space. Its properties include Hughes Tower and World Savings Center in Los Angeles.

If completed, the deal would mark the latest, and largest, example of a publicly traded real-estate company being sold to private buyers or a more diversified public company. Two weeks ago, CenterPoint Properties Trust agreed to be acquired by a partnership of the California Public Employees’ Retirement System and real-estate firm Jones Lang LaSalle Inc. for $2.4 billion plus debt. All told, more than $15.5 billion in deals involving real-estate investment trusts have been announced this year, according to SNL Financial, a Charlottesville, Va., research firm.

The purchase would be one of GE’s biggest U.S. real-estate deals, adding about $2.9 billion in total assets to $47 billion in assets owned by GE’s real-estate group. GE is expected to join with other investors, or turn over a portion of Arden’s portfolio to those investors, according to the people familiar with the matter. The people familiar with the matter didn’t know the names of the partners or the price. Arden had roughly $1.7 billion in debt outstanding as of Sept. 30.

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