- TPG Real Estate Finance Trust Inc provided a loan to support the acquisition
- Oaktree has $164 billion in assets under management as of March 31, 2022
- MG Properties specializes in the investment, redevelopment, and management of multi-family assets
Oaktree Capital Management and MG Properties have acquired San Jose, California-based The Platform Urban Apartments, a 551-unit community. No financial terms were disclosed.
The Platform is a transit-oriented mixed-use community completed in 2019.
On the transaction, Jared Lazarus, managing director in Oaktree’s Real Estate Group, said in a statement: “We are excited about our partnership with MG Properties to acquire The Platform, which we believe is a high-quality asset in the attractive multi-family sector. This transit-oriented, luxury community asset will strongly benefit from the Bay Area’s continued economic recovery from the pandemic.”
The sellers were represented by Eastdil Secured. The acquisition of the community was financed with a loan from TPG Real Estate Finance Trust Inc., an affiliate of alternative asset management firm TPG, arranged by Eastdil Secured.
Oaktree is a leader among global investment managers specializing in alternative investments, with $164 billion in assets under management as of March 31, 2022.
MG Properties is a privately owned, fully integrated real estate company specializing in the investment, redevelopment, and management of multi-family assets. Headquartered in San Diego, California, MG was founded in 1992 by Mark Gleiberman.