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Oaktree JV buys three industrial properties for $735m

by Andrea Waitrovich

Oaktree Capital Management and PATRIZIA Immobilien have been buying up assets for their joint venture. The two firms acquired three industrial properties in the United Kingdom for £429.6 million ($735.4 million). The seller was MEPC, on behalf of Hermes.

The largest and highest priced asset was the 1.82 million-square-foot Hillington Park in Glasgow, Scotland, selling for £184.5 million, or £102 per square foot ($315.5 million/$174 per square foot).

The second asset was Birchwood Park, a 1.13 million-square-foot property in Warrinton, England. The sales price was £124 million, or £111 per square foot ($212.8 million/$189 per square foot).

And the final asset of the portfolio was the 754

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