Justin Guichard, Aaron Greenberg, Amiyr Jackson and Ainslee Burns-Roberts

In October 2025, Brookfield, which had already owned 74 percent of Oaktree since 2019, acquired the rest, placing the credit manager fully under Brookfield’s control. 

Justin Guichard describes the union as something of a best of both worlds scenario.

“We continue to run independent teams, with the benefit of great interaction,” Guichard said. “We both benefit from one another’s expertise, whether that’s in particular areas of the real estate market or the credit markets. But we will continue to run independently.”

Oaktree saw transaction volume of $1.8 billion over the past year. The company’s real estate credit platform manages around $10 billion in assets under management, focused on private credit and debt securities, both residential and commercial. 

Guichard breaks it down for Commercial Observer.

“Within that, we would include RMBS, CMBS and CRE CLOs as an opportunity, as well as private credit, which could include loans against commercial real estate assets, multifamily, self-storage, and residential real estate assets,” said Guichard. “So that could be residential for sale, like condominiums or other residential development opportunities, as well as corporate credit. And corporate credit could either be private or public, depending on the opportunity.”

Notable transactions for Oaktree over the past year have included a $125 million multifamily refinance for a 228-unit apartment complex in Downtown Glendale, Calif., $85 million for a student housing project in the Bay Area, and a $135 million private credit investment for a hotel in the Phoenix area. 

Guichard said that Oaktree is dedicating a lot of time and energy to the private credit side. That includes via team members Aaron Greenberg, Amiyr Jackson and Ainslee Burns-Roberts.

“I would characterize that as for-rent housing — multifamily and student housing would fall under that — or sale housing, which would be products like residential transition loans,” Guichard said. “Then a smaller allocation would go into areas like hospitality, industrial, and other major food groups within commercial real estate.”