Oaktree joins Ellis Partners Venture to Bring New Investment to the Pruneyard Office Towers in Silicon Valley

Campbell, CA – Ellis Partners announced today that it completed a transaction for funds managed by Oaktree Capital Management, L.P. (“Oaktree”) to purchase a majority stake in the three-building, 365,000-s.f. Class A office component of the iconic mixed-use Pruneyard complex. Ellis Partners, which purchased the property in 2014 will retain an ownership stake and continue to manage the project. The Pruneyard Office Towers are centrally located in the heart of Silicon Valley’s West Valley submarket with prominent visibility and ease-of-access along Highway 17 and less than a 10-minute walk from downtown Campbell (via a newly improved walkway) as well as the Hamilton VTA light rail station. As part of this West Valley landmark property, the towers are directly adjacent to the recently transformed the 260,000-s.f. Pruneyard Shopping Center and a 169-room Doubletree by Hilton hotels.  The Oaktree transaction provides the new ownership group with fresh capital [...]

By |2019-02-27T15:52:59-05:00February 20th, 2019|In the News|0 Comments