Waterford Property Company Acquires Multifamily Property In Pasadena For $67M

The multifamily property located at 289 N. El Molino Ave. in Pasadena has been sold in a transaction valued at $67,000,000. The property consists of 105 units, resulting in a per unit price of $638,095. The sale was facilitated by Kevin Green and Gregory Harris from Institutional Property Advisors, representing the buyer, Waterford Property Company - Sean Rawson & California Statewide Community Development Authority, and the seller, Summerhill Communities.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $67,000,000
• Units: 105
• Price per Unit: $638,095
• Market: Pasadena

Waterford Property Company - Sean Rawson & California Statewide Community Development Authority acquired the property from Summerhill Communities in this notable transaction. Kevin Green and Gregory Harris, representing Institutional Property Advisors, played a key role as brokers in facilitating the deal.