Oaktree Capital Management has formed a joint venture with development company, the Ryland Group, to target residential real estate opportunities in the US.
Oaktree, which has $1.3 billion real estate assets under management, will target distressed residential land for development, with the intention of selling the assets as finished lots ready for the construction of property.
In a statement, Ryland said it would have the right to “option” all lots sold by the partnership. No financial details were disclosed. Ryland was unavailable for further comment at press time.
Ryland, which also has a mortgage-finance arm, currently operates in 15 states across the US. In November, Oaktree completed its tender offer for an extra 10.79 percent of Japanese property company Re-Plus Residential Investment. Oaktree now controls almost half the company.
The J-REIT has assets of over JPY100 billion ($1 billion; €819 million) invested in residential properties throughout Japan.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: 
