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Waterford Property Company Acquires Multifamily Asset In Pasadena For $335.1M

31 South De Lacey Avenue & 678 East Walnut Street
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This MultiFamily property located in CA was sold for $335,100,000 over 2 years ago. The brokers of the deal were Lee Redmond, Geoff Boler, Joseph Smolen, Javier Rivera, Alexandra Caniglia, Hunter Combs, and Blake Rogers

A multifamily property located at 31 South De Lacey Avenue and 678 East Walnut Street in Pasadena has been sold. The property consists of 513 units and was sold for a total price of $335,100,000, resulting in a price per unit of $653,216.

Summary of transaction details

The buyer of the property is the Waterford Property Company, represented by John Drachman and the California Statewide Communities Development Authority. The transaction was facilitated by brokers Joseph Smolen, Geoff Boler, and Lee Redmond from Eastdil Secured, as well as Blake Rogers, Hunter Combs, Alexandra Caniglia, and Javier Rivera from Walker & Dunlop.

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Deals
  • Location
    31 South De Lacey Avenue, Pasadena, CA, USA31 South De Lacey Avenue, Pasadena, CA, USA
  • Sale Price
    $335,100,000$335,100,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    7 Brokers, 3 Agencies7 Brokers, 3 Agencies

Agents

Lee Redmond

Lee Redmond

Deals4
Sold$968.4M

Blake Rogers

Blake Rogers

Deals12
Financed$1B

Agencies

Eastdil Secured

Eastdil Secured

Agency
Deals186
Volume$58.2B

Walker & Dunlop

Walker & Dunlop

Agency
Deals590
Volume$74.9B

JLL

JLL

Agency
Deals5416
Volume$324B

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Deal Summary

SALE IMAGE: Alexandra Caniglia, Javier Rivera, John Drachman, Joseph Smolen, Hunter Combs, Lee Redmond & Blake Rogers DATE: 06/16/2021 ADDRESS: 31 South De Lacey Avenue & 678 East Walnut Street MARKET: Pasadena ASSET TYPE: Multifamily BUYER: Waterford Property Company - John Drachman & California Statewide Communities Development Authority BROKERS: Joseph Smolen, Geoff Boler & Lee Redmond - Eastdil Secured; Blake Rogers, Hunter Combs, Alexandra Caniglia & Javier Rivera - Walker & Dunlop SALE PRICE: $335,100,000 UNITS: 513 ~ PPU: $653,216

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31 South De Lacey Avenue & 678 East Walnut Street

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