Hines-Oaktree JV Acquires 4000 MacArthur

NEWPORT BEACH, CA—Hines has acquired 4000 MacArthur, a Class A office project consisting of two, ten-story buildings totaling 375,000 rentable square feet, noting that the deal was done in conjunction with a a fund managed by Oaktree Capital Management. Financials were not disclosed.

Hines managing director Ray Lawler, who leads the firm’s Orange County development and investment office, said, “4000 MacArthur’s location, access, visibility, quality improvements, and credit tenancy make this a particularly attractive acquisition for Hines and Oaktree.  We expect the exceptional top floor vacancy, creative speculative suites, and prominent building top and monument signage will draw additional premier tenants to our project.”