Real Estate Alert
Oaktree Capital and ScanlanKemperBard last week teamed up on the purchase of a 1.2 million-square-foot portfolio of industrial and office properties for $43 million, or $35/sf. The seller was CommonWealth REIT of Newtown, Mass. Cushman & Wakefield brokered the sale to Los Angeles-based Oaktree and ScanlanKemperBard, of Portland, Ore. The space is roughly 70% industrial and 30% offices. The nine properties, with a combined 41 buildings, have a blended occupancy rate of 46%. The properties are in Sacramento (453,000 sf), Seattle (319,000 sf), Kansas City, Mo. (202,000 sf), Denver (197,000 sf) and San Diego (43,000 sf).