Updated Mar 24, 2025
Hines Acquires 290 North Hudson Avenue Multifamily In Pasadena From Washington Capital For $60M
290 North Hudson Avenue
$60,000,000
$441/SF
Building Size
135,940 SF
Asset Type
MultiFamily
Closing
Mar 20, 2025
About this deal
AI
The asset located at 290 North Hudson Avenue in Pasadena is a MultiFamily property consisting of 140 units and encompassing a total of 135,940 square feet. The property was sold for a total price of $60,000,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $60,000,000.00
- Address: 290 North Hudson Avenue
- Market: Pasadena
- Units: 140
- Square Footage: 135,940.0
- Seller: Washington Capital
- Buyer: Hines
- Broker 1: Dean Zander - CBRE
- Broker 2: Ken White - Newmark
The transaction involved key representatives including Dean Zander from CBRE and Ken White from Newmark, who represented the buying and selling parties during the process. Hines acquired the property from Washington Capital, showcasing the involvement of major stakeholders in the deal.
Players
Pasadena MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93