LOS ANGELES—Oaktree Capital Management hassigned a lease renewal with Brookfield PropertyPartners for 182,000 square feet at the WellsFargo Center's North Tower in the Downtown Los Angelesneighborhood of Bunker Hill. The renewal expands the company'sprevious lease by 26,000 square feet. This is one of the largestoffice leases signed in the downtown thisyear.

“Oaktree Capital Management is one of Downtown L.A.'s premierfirms,” Bert Dezzutti, EVP of the Western Regionfor Brookfield Property Partners, tells GlobeSt.com. “They've grownto over 550 employees in the last 20 years and it is an honor to beable to partner with them for the future.” With the26,000-square-foot lease expansion, Oaktree Capital Management nowoccupies seven full floors in the building. According toDavid Kirchheimer, Oaktree's CFO, the building isan ideal location for the firm to continue its growth plans. Theterm of the lease was not disclosed, but is being called “longterm.”

“This lease reinforces our belief that Wells Fargo Centercontinues to be one of the most attractive and relevantenvironments for business downtown,” says Dezzutti. Brookfield hassigned 700,000 square feet in leases in its Downtown Los Angelesportfolio this year, and launched DesignHive by Brookfield, anoffice suite collection that showcases modern office design to showtenants the design potential and to further increase occupancy. The52-story building is LEED certified and has 1.4million square feet of space and a three-story atrium.