ADC Real Estate Group LP Acquires 51-Unit ALUR Apartments In Pasadena For $22M

The ALUR Apartments located at 700 Locust Street in Pasadena features 51 units and was part of a sale transaction valued at $22,000,000, equating to a price per unit of $431,373.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $22,000,000
• Units: 51
• Price per Unit: $431,373
• Buyer: ADC Real Estate Group LP
• Broker Representatives: Kamran Paydar & Kadie Presley Wilson - CBRE
• Mortgage Brokers: Ryan Greer, Trevor Breaux & Troy Tegeler - CBRE

ADC Real Estate Group, an affiliate of Amoroso Companies, successfully acquired the multifamily asset, with CBRE facilitating the transaction through its brokers Kamran Paydar and Kadie Presley Wilson, who represented the seller, while financing was arranged by CBRE’s Ryan Greer, Trevor Breaux, and Troy Tegeler.