(ANAHEIM, CA) – Hines, the international real estate firm, announced that along with funds managed by Oaktree Capital Management, L.P. (“Oaktree”), it has acquired Pacific Sunwear “PacSun” Global Headquarters, a 181,000-square-foot, three-story Class A office building in Anaheim, CA. This transaction is the ninth acquisition for Hines and Oaktree in the North Orange County submarket and the sixteenth in greater Orange County since 2011.
Located at the intersection of Grove Street and East Miraloma Avenue, the property offers convenient access to the 91 and 55 Freeways, and is approximately 20 minutes from John Wayne Airport.
Originally developed in 2002 as a build-to-suit for PacSun—a specialty retailer focused on action sports, fashion and music influences of the California lifestyle— the building will continue to serve as global headquarters for PacSun. The HQ style campus includes large outdoor lounge areas and barbeque grills, volleyball and basketball courts, and a skate ramp.
Hines Senior Managing Director Ray Lawler, who leads the firm’s Orange County development and investment office, said, “PacSun is a tremendous acquisition to add to our growing net leased portfolio and further strengthens our portfolio in North Orange County”
Oaktree Managing Director Ambrose Fisher added, “We look forward to the new relationship with PacSun and are excited to add them to our tenant base in Orange County.”
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 21 countries. Hines has approximately $100 billion of assets under management, including $54.5 billion for which Hines provides fiduciary investment management services, and $45.5 billion for which Hines provides third-party property-level services. The firm has 113 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,262 properties, totaling over 414 million square feet. The firm’s current property and asset management portfolio includes 529 properties, representing over 213 million square feet. Visit www.hines.com for more information.
Oaktree is a leader among global investment managers specializing in alternative investments, with $99 billion in assets under management as of June 30, 2017. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 900 employees and offices in 17 cities worldwide. For additional information, please visit Oaktree’s website at www.oaktreecapital.com.