JV between Oaktree and Trinity to invest $3B in Cali hotels

Venture will also invest in properties in Hawaii, Mexico and Japan

Aug.August 22, 2017 04:00 PM
Ben Bianchi of Oaktree Capital Management (credit: Oaktree Capital Management)

Downtown Los Angeles investment firm Oaktree Capital Management has, once again, teamed up with Honolulu-based Trinity Investments to pump as much as $3 billion into hotels throughout California, as well as in Hawaii, Mexico and Japan.

The two firms previously linked arms in April to purchase the leasehold interest in the 759-room Westin Maui Resort & Spa from an affiliate of Starwood Hotels & Resorts for $317 million, PERE reported.

Trinity will be overseeing their latest joint venture, including acquisitions and asset management.

Oaktree’s Ben Bianchi said the firm’s strategy is to invest with partners in key markets. The investment company formed in 1995 and has $99 billion in assets under management as of June 30, according to its website. [PERE] — Subrina Hudson

Related Articles

Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

Interest rate drops spur loan requests from multifamily borrowers (Credit: iStock)

Multifamily owners rush to refinance their mortgages

LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

Best of TRD 2019 promo

Coming soon: The Real Deal’s Best of 2019

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border