Oaktree Capital Management Sells Office Park In Tempe, AZ For $61.5M To Andrew Cohn Group

An office asset located in Tempe, AZ, was sold for $61.5 million. The property encompasses approximately 300,000 square feet, resulting in a price per square foot of $205. The sale reflects a nearly fully leased status at the time of the transaction.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $61,500,000
• Market: Tempe, AZ
• Square Footage: 300,000
• Price per Square Foot: $205
• Seller: Oaktree Capital Management
• Buyer: Andrew Cohn-led group
• Financing: $61 million in private debt from Verde Investments Inc.

The transaction involved Oaktree Capital Management as the seller and an Andrew Cohn-led group as the buyer. This deal was financed through a substantial private debt provision from Verde Investments Inc., highlighting the financial structure supporting the acquisition.