Hines/Oaktree Venture Acquires Raytheon Campus in Fullerton, CA

(IRVINE, CA) – Hines, the international real estate firm, announced today that along with a subsidiary of a real estate fund managed by Oaktree Capital Management, L.P., it has acquired the Raytheon Campus in Fullerton, CA, at the end of 2012, from an undisclosed seller.

The two-building, 405,130-square-foot suburban office complex is located at 1801 Hughes Drive.

The Cushman & Wakefield brokers representing the seller were Jim Jordan, David Hasbrouck, Ben Cooper and David Dowd.

 Built in 1986, the property is situated on 25 acres of land and is comprised of two, three-story office buildings located in the heart of the North Orange County submarket. The property is fully leased to Raytheon, one of the world’s leading defense and technology contractors.

Hines Managing Director Ray Lawler, who leads the firm’s Orange County development and investment office, said, “We are pleased to add Raytheon's Fullerton Campus to our Orange County portfolio.

It caps a tremendous 2012 year, which included three separate acquisitions in Orange County, totaling 650,000 square feet with our partner Oaktree Capital Management.”

"This transaction is a great example of our ability to get comfortable with a complex structure and meet a very quick closing timeline. We look forward to expanding our Orange County portfolio in 2013," said Mark Jacobs, managing director for Oaktree Capital Management L.P.

Oaktree Capital Management, L.P. is a leading global investment management firm focused on alternative markets, with $81 billion in assets under management as of September 30, 2012.

The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high-yield debt and senior loans), control investing, convertible securities, real estate and listed equities.

Headquartered in Los Angeles, the firm has over 700 employees and offices in 13 cities worldwide.

For additional information, please visit Oaktree’s Web site at www.oaktreecapital.com.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,208 properties representing more than 488 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments.

With offices in 104 cities in 18 countries, and controlled assets valued at approximately $23.8 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems.

Visit www.hines.com for more information.