Regions West
GE Real Estate Funds Legacy Partners Pasadena, Calif., Buy
May 5, 2008

GE Real Estate has announced it has provided a $36.5 million first mortgage facility to Legacy Partners Commercial for its acquisition of an office building in Pasadena, Calif. The Class B property totals 105,000 square feet and is being acquired from Los Angeles-based Arden Realty. The transaction, the first between GE and Legacy Partners, closed in five days. The three-year, first mortgage bridge loan included a hold back for future capital expenditures and tenant improvements of $4.5 million.

 
Recent West Headlines
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Los Angeles International Airport is undergoing a massive multi-phase makeover and the city's Board of Airport Commissioners has just authorized approximately $1.8 billion to cover projects encompassed in the initial stage of the airport's capital improvement program, which is being conducted under Los Angeles World Airports' Project Labor Agreement. .
Maguire to Sell Orange Country Property for $211M
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