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Hines, Oaktree Acquire Ygnacio Center in Walnut Creek
Houston-based Hines, along with a subsidiary of real estate funds managed by Oaktree Capital Management, L.P., acquired Ygnacio Center, a transit-oriented office project totaling 514,918 square feet in Walnut Creek, CA. The three-building property was acquired from LaSalle Investment Management reportedly for in the neighborhood of $221 million.
The complex features a landscaped park, above average parking, an onsite café/bakery, and generous setbacks that provide sweeping mountain views. The new owners plan to execute a significant capital upgrade program to reposition the complex. Improvements include building a new 8,200-square-foot amenity center with conference facilities, co-working space, bike lockers, showers, outdoor collaborative space, and additional tenant improvements.
Hines’ George Clever says, “We are pleased to add Ygnacio Center to our growing portfolio. Given the quality of the location and the solid market fundamentals, we believe this is a strategic acquisition for our portfolio.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


