Hines, Oaktree JV Completes 11th Acquisition

A joint-venture between Houston-based Hines and Oaktree Capital Management has reportedly acquired Canyon Corporate Center, a two-story, office/flex building totaling 155,351 rentable square feet in Anaheim. The transaction value was undisclosed.

Los Angeles-based Oaktree Managing Director Ambrose Fisher says it’s the 11th deal Oaktree has completed with the Hines’ Orange County team, a JV that owns and operates a portfolio of nearly three million square feet.

Ray Lawler, Hines’ Orange County leader, notes there’s a “robust “capital improvement program planned for Canyon Corporate Center. The upgrades at the 55-percent leased property will focus on the lobby and outdoor amenity areas.

The building was sold by Cushman and Wakefield’s Jeff Cole and Ed Hernandez.