Hines, the international real estate firm, announced that along with a subsidiary of a real estate fund managed by Oaktree Capital Management, L.P., it has acquired 17850 Von Karman, a 65-acre site located in Irvine’s Main Corporate Center near the John Wayne Airport, on which the firm plans to develop a 242,000-square-foot Class A office building. Hines acquired the fully entitled parcel from Von Karman-Irvine Associates, LLC, for an undisclosed amount. CBRE represented the seller in the transaction.
Oaktree is a leader among global investment managers specializing in alternative investments, with $76.4bn in assets under management as of June 30, 2013. Headquartered in Los Angeles, the firm has over 750 employees and offices in 14 cities worldwide.
