Oaktree Capital Group LLC, in its maiden acquisition in north Texas, bought two office buildings along the Oak Lawn stretch in Dallas from a Quadrant Investment Properties LLC-led partnership for an undisclosed amount, The Dallas Morning News reported June 13.
Included in the transaction are the Centrum tower and the adjacent 13-story Park Creek Place building, the local publication noted. Aside from office and retail components, the Centrum high-rise building also includes condominium units that were not included in the transaction.
The 80%-leased properties were marketed together in March by Eastdil Secured. At that time they were expected to fetch up to $170 million. The publication, citing unnamed real estate agents tracking the deal, reported that Oaktree Capital paid $350 per square foot for the assets.