Oaktree and Partner Acquire$240 M East Coast Portfolio

LOS ANGELES—An affiliate of Oaktree Capital Management, L.P. in partnership with National Financial Realty, Inc. , has purchased a portfolio of 40 office buildings from First States Investors B, L.P. The acquisition of the 3.4 million-square-foot office portfolio, which is 90 percent leased to Wells Fargo Bank, establishes NFR as the largest privately-held investment firm focused on acquiring and operating properties leased to regulated financial institutions.

 “This off-market acquisition, principally backed by 11 years of Wells Fargo credit, at a 50% discount to replacement cost, is another example of Oaktree’s commitment to relationship based transactions with well-positioned strategic operating partners like NFR, in addition to lenders and borrowers in need of capital solutions,” said John Brady, managing director and head of global real estate for Oaktree.