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Oaktree Capital buys 2 Dallas office buildings in 1st north Texas move

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.