A lender is shopping a Pasadena office campus about three years after taking the keys back, according to marketing materials reviewed by The Real Deal. The real estate on 251 South Lake Avenue called Pasarroyo was owned by Coretrust Capital Partners — but control of the four-building, 650,000-square-foot campus reverted to the lender, Heitman, after a failed public auction. The opening offer in December 2023 was $114 million, TRD previously reported. That was less than what Coretrust Capital purchased the campus for in 2018, not to mention the $50 million it later spent on renovations — and the around $270 […]
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