SOURCE: Lincoln Property Company

Lincoln Property Company

July 13, 2011 16:25 ET

CB Richard Ellis Awarded Leasing for Camelback Executive Park by Lincoln Property Company and an Oaktree-Managed Fund

PHOENIX, AZ--(Marketwire - Jul 13, 2011) - The Phoenix office of Lincoln Property Company, a full-service real estate firm providing property management, receivership services, leasing, development and construction management, and a subsidiary of a real estate fund managed by Oaktree Capital Management, L.P., announce that CB Richard Ellis (CBRE) has been awarded an exclusive marketing assignment for Camelback Executive Park in Scottsdale, Arizona.

James B. Fijan, Jerry T. Roberts and Corey Hawley of CB Richard Ellis' Phoenix office will handle the leasing responsibilities for the building.

"We are pleased to have the opportunity to work with Jim, Jerry and Corey again. With solid new ownership and a proven leasing team, we are looking forward to a highly successful project," said Cooper Sutherland, Vice President of Real Estate, Lincoln Property Company West Region.

"We are excited about the leasing assignment of Camelback Executive Park. The building has an exceptional location in the heart of downtown Scottsdale," said Roberts, Executive Vice President, CB Richard Ellis. "With the new ownership in place the building is now well capitalized and ready to make deals. We are already seeing great interest from tenants in the market."

The joint venture acquired the property in May. Joint venture partner Lincoln Property Company serves as the property and construction manager for the building. Lincoln manages nearly 5 million square feet locally and approximately 119 million square feet nationally.

Camelback Executive Park is a 172,690 square foot, three-story building located at 6991 East Camelback Road, near the prestigious intersection of Scottsdale and Camelback Roads in Scottsdale, Arizona. Major tenants of the property include Mastro's City Hall Steakhouse, Ashton Woods Homes and Pacific Coast Mortgage.

The property has a sleek and contemporary design and a fully landscaped courtyard with a fountain and seating areas. The property features proximity to the highly desirable Scottsdale Fashion Square with its anchor tenants: Barneys New York, Neiman Marcus and Nordstrom. In addition, the W Hotel and Scottsdale Waterfront are within walking distance. Camelback Executive Park is also located near the heart of old town Scottsdale with a multitude of restaurants and retail amenities.

LINCOLN PROPERTY COMPANY

Founded in 1965, Lincoln Property Company (Lincoln) is nationally recognized for its full-service, vertically integrated institutional investment and property management platform. Lincoln has approximately 4,400 employees and maintains a presence in more than 200 U.S. cities and 10 countries. Since 1965, Lincoln has acquired and developed approximately $34.3 billion of residential and commercial property. The company currently manages over 119 million square feet in the United States. Lincoln is ranked by Commercial Property News as one of the largest developers and property managers in the United States.

Lincoln's West Regional office, based in Phoenix, Arizona, has developed in excess of 2.9 million square feet, acquired 2.1 million square feet and manages 4.7 million square feet of commercial space. Lincoln is consistently ranked in the Phoenix Business Journal Book of Lists. For more information, visit http://www.lpcphx.com.

OAKTREE CAPITAL MANAGEMENT, L.P.

Oaktree is a premier global alternative and non-traditional investment manager with $85 billion in assets under management as of March 31, 2011. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, high yield bonds, convertible securities, senior loans, corporate control (including power opportunities), real estate, emerging market equities and mezzanine finance. Oaktree was founded in 1995 by a group of principals who have worked together since the mid-1980s. Headquartered in Los Angeles, the firm has approximately 615 employees and offices in 13 cities worldwide. For more information, visit http://www.oaktreecapital.com.

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