Warner Center Portfolio Sells for $236 Million

Oaktree Capital Management LP in Los Angeles has bought five buildings within the Warner Center for about $236 million, according to commercial real estate database CoStar Group Inc. The investment firm paid just under $292 a square foot for the 14-acre property at 21271, 21281 and 21301 Burbank Blvd. and 5700 and 5820 Canoga Ave. from Hines Securities Inc., a real estate investment trust in Houston, Texas. Total square footage exceeds 808,000 square feet, according to CoStar. Hines bought the portfolio in 2006 for $311 million, or nearly $385, a square foot.