KS Partners and Oaktree Capital Management Acquire Brickstone Square, Andover
Tuesday, October 14, 2014
CBRE/New England Contact:
KS Partners and Oaktree Capital Management
Acquire Brickstone Square, Andover
CBRE/New England appointed exclusive leasing agent for suburban office park
BOSTON (Oct. 14, 2014) — A joint venture between KS Partners, a real estate investment and development company, and Oaktree Capital Management, a leading global alternative investment management firm, acquired Brickstone Square, a three-building, Class A office park located just off Interstate 495 in Andover, Massachusetts.
CBRE/New England has been appointed exclusive leasing agent for the asset. Kerry Olson Hawkins, Jason Levendusky and Jake Borden will spearhead CBRE/NE’s efforts.
“We're excited by the strength of the existing tenants at Brickstone Square and we see the potential for significant long-term value creation that proactive management of the property will bring," said Kambiz Shahbazi, President and Founder of KS Partners.
“Brickstone Square boasts an ideal location directly off Interstate 495 in Boston’s suburbs with an array of amenities in an office park environment,” added CBRE/NE’s Olson Hawkins. “We look forward to working with KS Partners and Oaktree Capital Management in helping to further enhance and add value to Brickstone Square.”
Originally constructed between 1919-1934 as the world headquarters of the American Woolen Company, Brickstone Square consists of three buildings (100, 200 & 300 Brickstone Square) on 53.1 acres. In 1986, the property was substantially renovated and converted to office space. The buildings offer over a million square feet of office space with some of the most stunning views available in Boston’s suburbs. In addition to office space, Brickstone Square houses a full-service cafeteria, fitness center, on-site daycare center, convenience store and over 3,000 parking spaces. The park is also in proximity to numerous amenities and nearby restaurants.
About KS Partners
KS Partners, LLC. is a real estate investment & development company which owns and operates four million square feet of commercial property located in the northeastern United States. With offices in New York and Massachusetts, the KS Partners’ approach is to utilize the vast real estate experience of its management team in developing, operating, and maintaining properties while leveraging local knowledge and relationships to help create value in all of their investments. For additional information, visit www.kspartnersllc.com.
About Oaktree Capital Management
Oaktree’s mission is to provide highly professional management with a primary emphasis on risk control in a limited number of sophisticated investment specialties. Oaktree specializes in less efﬁcient markets and alternative investments, and has extensive experience, an enviable track record, broad product range and substantial assets under management. We are dedicated to the achievement of consistent and superior performance without high risk. Our ultimate objective is investment success, the fruits of which are shared by Oaktree’s clients and personnel. For additional information, visit www.oaktreecapital.com.
About CBRE/New England
CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. Please visit our website at www.cbre-ne.com. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.