Oaktree Capital Management has offloaded a Tempe office park for $61.5 million. An Andrew Cohn-led group was the buyer of the nearly 300,000 square foot property.
Built in 2005 and 2007, the property was nearly 100% occupied when the sale closed.
The Phoenix Business Journal reports the deal was financed with $61 million in new private debt from Verde Investments Inc. Verde owns properties such as the former Fiesta Mall site, which it plans to sell soon.
Cohn is also actively involved with Levine Investments, which owns and controls 15,000 acres across the state, including the former GM Proving Grounds in Mesa.
Last March, two of its entities sold 173 acres for $300 million to Tokyo-based NTT Data Group Corp., which plans to build a data center on that site.
Before that, in January 2024, 87 acres of the former GM Proving Grounds were sold for $46 million to Denmark-based DSV Air and Sea Inc.
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