Wednesday , 28 September 2016
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Hines Partnership Buys Southern Calif. Office

4000 MacArthur, Newport Beach, Calif.

4000 MacArthur, Newport Beach, Calif.

NEWPORT BEACH, Calif. – Hines, the Houston-based real estate firm, along with a subsidiary of a fund managed by Oaktree Capital Management, has acquired 4000 MacArthur, a Class A office project consisting of two, ten-story buildings totaling 375,000 square feet in Newport Beach, California.

Situated within the 179-acre Koll Center Newport at the intersection of MacArthur Boulevard and Jamboree Road, 4000 MacArthur has access to the SR-73 and I-405 Freeway, and is one-half mile from the John Wayne Airport.  Recent building improvements include a new curtain wall façade and two fully renovated main lobbies.

The buildings are 91 percent leased to twelve tenants, including: Hyundai Capital America, M/A-COM Technology Solutions Holdings, Lifescript, and Premium Office Centers.  Hines has assumed on-site property management responsibilities on behalf of the joint venture.

Hines Managing Director Ray Lawler leads the firm’s Orange County development and investment office.

Oaktree Managing Director Ambrose Fisher added, “4000 MacArthur is our eleventh project with the Hines Orange County team.  We now own 2.8 million square feet in Orange County that we have taken from 65 percent leased at acquisition to nearly 90 percent leased today.  Globally, we have purchased 21 office deals in the US and the United Kingdom with Hines, totaling 8.2 million square feet.”

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