A fund managed by Los Angeles-based alternative investment management firm Oaktree Capital Management has bought Rio West Business Park, an office campus situated at Rio Salado Parkway in Tempe, Arizona.

The property was acquired from a joint venture (JV) between U.S. real estate private equity firm The Wolff Co. and peer Leavitt Capital Cos. 

Rio West Business Park, which the fund bought for $63.3 million, is a five-building property, featuring 296,663 square feet of office space.

At the time of the transaction, the asset was fully leased, with Texas-based airline company American Airlines occupying four of the five buildings.