Barker Pacific Group, Rockwood Capital Acquire 227,019 SF Office Building in Pasadena

PASADENA, CALIF. — A joint venture between Barker Pacific Group and Rockwood Capital has purchased a Class A office building, located at 301 N. Lake Ave. in Pasadena. The price was not disclosed.

Washington Capital Management previously operated the asset on behalf of an unidentified seller. Built in 1989, the 11-story building features 227,019 square feet of office space. The buyers plan to improve the asset by modernizing the property.

CBRE’s Mike Longo and Sean Sullivan brokered the sale. JP Morgan provided debt financing for the buyers.