HINES ACQUIRES THE VOLT CAMPUS IN ORANGE, CALIFORNIA

March, 2016

(ORANGE, CA) – Hines, the international real estate firm, announced today that along with a fund managed by Oaktree Capital Management, L.P. (“Oaktree”), it has acquired The Volt Campus, a two-story, four-building office campus totaling 191,127 rentable square feet on 11.9 acres in Orange, CA. Financials on the deal were not disclosed. The campus was sold by the global staffing company, Volt Information Sciences (“Volt”), and Volt will leaseback 100% of the campus for 15 years. Jeff Cole and Ed Hernandez with Cushman and Wakefield represented Volt on the transaction. Kurt Bruggeman and Ryan Swanson with Lee and Associates represented the Hines and Oaktree joint venture.
The property provides immediate access to the Riverside (SR-91), Costa Mesa (SR-55), and Orange (SR-57) Freeways, and is approximately 20 minutes from John Wayne Airport. Hines has assumed on-site property management responsibilities on behalf of the joint venture.
Hines Managing Director Ray Lawler, who leads the firm’s Orange County development and investment office, said, “The Volt Campus is an excellent addition to our Orange County portfolio and our first purchase in the City of Orange. The Volt Campus is the 13th Orange County Hines/Oaktree acquisition and our portfolio is spread across 8 cities to include Anaheim, Brea, Fullerton, Irvine, Newport Beach, Orange, Santa Ana and Yorba Linda.”
Oaktree Managing Director Ambrose Fisher added, “We are very pleased to gain the high-quality and long-term tenancy of Volt Information Sciences. Their tenancy is a fine addition to an existing tenant and customer base of over 60 tenants in our Oaktree and Hines Orange County portfolio.”
Oaktree is a leader among global investment managers specializing in alternative investments, with $100 billion in assets under management as of September 30, 2015. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 900 employees and offices in 17 cities worldwide. For additional information, please visit Oaktree’s website at www.oaktreecapital.com.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 199 cities in 19 countries. Hines has $87 billion of assets under management, including $43 billion for which Hines provides fiduciary investment management services, and $44 billion for which Hines provides third-party property-level services. The firm has 104 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,100 properties, totaling over 346 million square feet. The firm’s current property and asset management portfolio includes 531 properties, representing over 186 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.

By |2017-02-03T20:47:39+00:00March 1st, 2016|
CBS Realty Advisors