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Rockpoint Makes Another SoCal Move
Boston-based Rockpoint Group picked up its third asset in SoCal, with the addition of the 12-story AT&T Building in Pasadena. The private equity firm bought 177 East Colorado Blvd. from Saunders Property Group for $161.5 million. Eastdil Secured handled the transaction.
The roughly 300,000-square-foot property underwent a $24-million renovation after Saunders took control in 2014. That included transforming common areas into a modern work environment. The 88%-occupied building is anchored by AT&T, as well as home to WeWork, Primecap Odyssey Funds and iRobot.
The Pasadena buy follows Rockpoint’s reported $215-million acquisition of Blackstone’s 5670 Wilshire Boulevard, as well as the a 460-key Westin Hotel in Long Beach for roughly $85 million.
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