Oaktree JV buys three industrial properties for $735m
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,