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Oaktree Capital Management Sells Office Park In Tempe, AZ For $61.5M To Andrew Cohn Group
SOLD
$61,500,000
Arizona
See Similar DealsOffice300,000 SF
Sold 02/13/2026
SOLD
Oaktree Capital Management Sells Office Park In Tempe, AZ For $61.5M To Andrew Cohn Group
Office300,000 SF
Sold 02/13/2026
Summary
Asset Type:Office
Price Per Square Foot:$205
Total Square Footage:300,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,280,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$218,496.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$291,541.38
Annual Debt Service$3,498,496.51
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