Tackling Two of the Largest Real Estate Transactions in Pasadena, CA
We represented a global investor in joining with East West Bank to purchase from MPG Office Trust the airspace lease for the Plaza Las Fuentes. Plaza Las Fuentes is a 193,000 square foot office building and two free-standing restaurants. The acquisition was instrumental in the bank identifying Pasadena as its local headquarters. Later, in connection with winding up California’s redevelopment agencies, we represented the group in purchasing the airspace fee from the City of Pasadena as the Successor Agency to the Pasadena redevelopment agency.
A California-based investment group engaged us to advise in its acquisition of the AT&T Building, totaling 291,000 square feet. The deal involved complicated CMBS financing and equity financing, as well as a lease-back with AT&T. After repositioning the building to maximize value, the investment group enlisted us to represent them in the sale.