Oaktree teams up with Patrizia to buy three UK business parks


acorn-94554-mOaktree Capital Management has teamed up with German real estate investor Patrizia Immobilien to buy three UK business parks for £430m from Hermes Real Estate.

The three business parks are Hillington Park in Scotland, Chineham Park in the South East of England and Birchwood Park in the North West.

Patrizia UK head of portfolio management Rob Brook said, “Each of the three parks is well established. At the same time, they offer significant development potential, as they are situated in highly dynamic regions.

“Over the next few years, we will leverage this potential value with new investments and intensive asset management in cooperation with Oaktree Capital Management.”

Oaktree recently launched its seventh Real Estate Opportunities Fund hot on the heels of the sixth vehicle in the series, which raised $2.7bn.

During a conference call regarding its 2014 second quarter results the firm said that real estate opportunities were ‘plentiful’.

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