Pasadena Complex Is Sold for $134 Million

Del Mar Station, an apartment and retail complex being built around a light-rail stop in Pasadena, has been purchased for $134 million by a Colorado real estate investment trust.

Archstone-Smith bought the 347-unit project at Arroyo Parkway and Del Mar Boulevard from developer Urban Partners, which expects to finish the $120-million complex by the end of the year.

“From the beginning, our plan for Del Mar Station was to sell it upon completion,” said Paul Keller, a principal of Los Angeles-based Urban Partners.

Roger Vincent