November 12, 2019
San Francisco-based Swift Real Estate Partners acquired The Pasadena Collection, an institutional quality three-property office portfolio totaling 516,890 square feet in Pasadena, CA, for $193 million. JLL represented the seller, an unnamed global investment manager, and procured the buyer. JLL also secured the three-year, floating-rate $160-million acquisition loan through Nuveen Real Estate.
The property consists of a 146,313 square-foot building located at 790 East Colorado, a 211,792 square-foot building at 155 North Lake, and a 158,785 square-foot building at 35 North Lake. The 68%-occupied portfolio provides Swift the opportunity to reposition the assets through a significant capital improvement program. This is the first transaction to be completed on behalf of Swift’s recently raised $500-million Fund III.
JLL’s Michael Leggett, Andrew Harper and Matt McRoskey represented the seller. JLL’s Capital Markets team that arranged the acquisition financing was led by Paul Brindley, Todd Sugimoto, Jeff Sause and Steven Paskover.
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