Rancon Real Estate

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  • San Bernardino Office Campus Acquired by Hines/Oaktree Joint Venture

    A San Bernardino office portfolio was recently acquired in a deal completed by international real estate firm Hines. Part of a joint venture that it has created with a fund managed by Oaktree Capital Management LP, the company acquired the Inland Empire property from two investment funds managed by Rancon Real Estate. The Tri-City Corporate Center is now under the ownership of the JV, with the financial terms of the property not being disclosed. Industry analysts placed the estimated value of the deal at around $100 million. After the completion of the transaction, the property management duties at Tri-City Corporate Center will be handled by Hines.

    Los Angeles 06 April 2015 13:17

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