Hines/Oaktree Venture Acquires Irvine Corporate Center in Santa Ana, CA

(IRVINE, CA) – The Irvine office of Hines, the international real estate firm, announced today that Hines and a subsidiary of a real estate fund managed by Oaktree Capital Management, L.P. have acquired Irvine Corporate Center, an office building within the Irvine Business Complex, from Sunamerica Life Insurance Company.

The two-story, 126,622-square-foot building is located at 1821 E. Dyer Road immediately southeast of the 55 Freeway in close proximity to the John Wayne Airport.

The brokers representing the seller were Jeffrey Cole and Ed Hernandez from Cushman & Wakefield.

Irvine Corporate Center features a two-story glass façade entryway and lobby with large flexible floor plates and nine-foot ceilings throughout.

Due to the flexibility of the building, the property can accommodate office, laboratory and manufacturing tenants ranging from 15,000 to 126,000 square feet.

Hines plans extensive improvements at the property including renovations to the exterior facade, renovation of the lobby and restrooms, and upgrades to the landscaping, HVAC systems and parking.

Hines Managing Director Ray Lawler, who leads the firm’s Orange County development and investment office, said, “This is Hines’ 10th acquisition since our entry into Orange County in 2005, and we remain focused on growing our Orange County portfolio. With our upgrade plans for the property and the area’s overall improving market fundamentals, we expect Irvine Corporate Center to continue to be a desirable place for business.”

Oaktree Capital Management, L.P. is a leading global investment management firm focused on alternative markets, with $81 billion in assets under management as of September 30, 2012.

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 700 employees and offices in 13 cities worldwide.

For additional information, please visit Oaktree’s Web site at www.oaktreecapital.com.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,208 properties representing more than 488 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments.

With offices in 104 cities in 18 countries, and controlled assets valued at approximately $23.8 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems.

Visit www.hines.com for more information.

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