from SNL Real Estate Daily
Report: Oaktree considered buying parts of Colony Capital before Brookfield deal
BYLINE: Abdul Rehman Maqbool
Oaktree Capital Group LLC, which agreed to sell a majority stake to Brookfield Asset Management Inc. in March, held discussions in late 2018 to acquire parts of Colony Capital Inc., Bloomberg News reported, citing people familiar with the matter.
The unnamed sources told the news outlet that the talks pertained to real estate investment trust Colony Credit Real Estate and warehouse owner Colony Industrial, as well as Colony Capital's ownership interest in Digital Colony. According to one of the sources, the discussions between the parties were preliminary and have since been shelved.
Colony Capital's board in February set up a committee that will review and make recommendations on the company's assets and business configuration issues.
Oaktree's stake sale deal with Brookfield is expected to close in the third quarter.
Colony Capital, Oaktree and Brookfield representatives declined to comment, Bloomberg added.