Bell Partners Buys Pasadena Asset
- May 11, 2018
Bell Partners has acquired The Ellington, a 212-unit, Class A community in Pasadena, Calif. Cushman & Wakefield arranged the sale on behalf of the seller, Hines. Newman Garrison + Partners designed the property, which was completed in 2016. The architecture company is also working on Elysian Park Lofts, a proposed Los Angeles community.
Located at 3330 E. Foothill Blvd., The Ellington is a transit-oriented development adjacent to the Gold Line Metrorail Station and is just one block from Interstate 210. The community is approximately 17 miles from downtown Los Angeles and comprises a mix of one- and two-bedroom residences, averaging 838 square feet. In addition, the property features 25 affordable units. Community amenities include:
- controlled access
- fitness facility
- business center
- swimming pool
- 305 covered parking spaces
“We are pleased to have completed the full investment cycle for Hines’ first multifamily development in the West Region. We look forward to continuing our growth in the sector through both acquisition and development,” said Doug Metzler, senior managing director at Hines, in prepared remarks.
Image courtesy of Hines