The Pasadena Collection has traded hands for $193 million between a global investment manager and Swift Real Estate Partners. The asset is an institutional quality three-property office portfolio totaling 516,890 square feet in Pasadena, California.
This is the first transaction to be completed on behalf of Swift's recently raised $500M Fund III, which is focused on value-add investments in Northern California, Southern California and the Pacific Northwest. The recently raised fund has $1.35 billion of buying power.
In addition, Swift secured a $160 million loan to acquire the property. The loan has a three-year, floating-rate acquisition loan through Nuveen Real Estate.
JLL represented the seller with a team led by Michael Leggett, Andrew Harper and Matt McRoskey. JLL's Capital Markets team that arranged the financing for the borrower was led by Paul Brindley, Todd Sugimoto, Jeff Sause and Steven Paskover.
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Kelsi Maree Borland
