Oaktree Capital Management, L.P., a funds manager, has secured a loan extension at FourForty Four South Flower in Downtown Los Angeles. This 48-story office tower is 914,000 square feet and the terms of the loan were not disclosed. The lender’s contribution will help fund future projects at this building.
In January 2021 Oaktree took ownership of the building following UCC foreclosure proceedings and JLL was retained to lease it while CBRE was hired for property management services. Since then 90,000 square feet have been leased out by new ownership team led by Justin Guichard who serves as managing director and co-portfolio manager for Oaktree said: “We are excited to invest directly into an office project that is in our backyard” The new owners plan on continuing their investment towards making FourFortyFour an environmentally friendly space for tenants to enjoy
