Pasadena Complex Is Sold for $134 Million
- Share via
Del Mar Station, an apartment and retail complex being built around a light-rail stop in Pasadena, has been purchased for $134 million by a Colorado real estate investment trust.
Archstone-Smith bought the 347-unit project at Arroyo Parkway and Del Mar Boulevard from developer Urban Partners, which expects to finish the $120-million complex by the end of the year.
“From the beginning, our plan for Del Mar Station was to sell it upon completion,” said Paul Keller, a principal of Los Angeles-based Urban Partners.
Roger Vincent
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
