Private equity firm Oaktree Capital Management LP and National Financial Realty Inc. have acquired a group of office buildings for $240 million.
The group consists of 40 office buildings that are 90 percent leased to Wells Fargo Bank. The offices are located in North Carolina, South Carolina, Virginia, Florida, New Jersey, Pennsylvania, Maryland and Georgia. Oaktree and National Financial bought the buildings from First States Investors B LP.
National Financial, headquartered in Torrance, Calif., is an investment firm that focuses on real estate deals where the property is leased to financial institutions.
Oaktree has $77.1 billion in assets under management. The Los Angeles company invests in distressed debt, corporate debt, convertible securities, real estate and equities.