Hines, the international real estate firm, announced that along with funds managed by Oaktree Capital Management, L.P. (“Oaktree”), it has acquired the Beckman Coulter Campus, a 34-acre mixed-use campus in Brea, California. Hines and Oaktree have had a very active partnership since 2010 with over 30 projects acquired on the West Coast. This transaction marks the 10th acquisition for Hines and Oaktree in the North Orange County submarket alone.
The five-building office and industrial/logistics campus, totaling 576,234 square feet, has served as Beckman’s headquarters since the original construction in 1979/1984. The campus sits on Kraemer Boulevard, just off Imperial Highway and two miles east of Highway 57. Beckman Coulter, a biomedical device producer, continues to lease 100 percent of the property. The facilities are highly specialized to support key R&D, manufacturing, and product training initiatives. The campus has been exceptionally maintained by Beckman and includes outdoor common areas, fitness centers, multiple on-campus dining options, and community living space. The complex also includes 1,642 surface parking stalls.
Hines Director Drew Huffman said, “We are pleased to add Beckman Coulter to our growing net leased portfolio in Orange County, now totaling approximately 1.5M square feet. This asset is an excellent addition to our greater Orange County portfolio.”
Oaktree Managing Director Ambrose Fisher added, “We are excited about the Beckman Coulter acquisition and our continued push into North Orange County, particularly in the City of Brea. The excellent location and exceptional tenant are a perfect complement to our existing portfolio.”
Oaktree is a leader among global investment managers specializing in alternative investments, with $121 billion in assets under management as of March 31, 2018. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 900 employees and offices in 18 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 24 countries. Hines has approximately $111 billion of assets under management, including $60 billion for which Hines provides fiduciary investment management services, and $51 billion for which Hines provides third-party property-level services. The firm has 108 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,295 properties, totaling over 422 million square feet. The firm’s current property and asset management portfolio includes 506 properties, representing over 210 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.