Oaktree Capital Management, L.P. has secured a loan extension for FourForty Four South Flower, a 48-story office tower located in Downtown Los Angeles with 914,000 square feet of space. The terms of the loan were not disclosed and the lender’s contribution will be used to fund future projects at the building.
In January 2021 Oaktree took ownership of FourFortyFour following UCC foreclosure proceedings and subsequently hired JLL’s Hayley Blockley, Josh Wrobel and Peter Hajimihalis to lease it out while CBRE was appointed as property manager for the building. Since then 90,000 square feet have been leased out by new ownership team led by Justin Guichard – managing director & co-portfolio manager at Oaktree – who commented that they are “excited to invest directly into an office project that is in our backyard” adding that they plan on continuing investment towards making it a healthy environment for tenants alike going forward
