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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.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition