LOS ANGELES, CA – July 23, 2018 – HFF announces $66.08 million sale of The Andalucia, a newly built, 118-unit, resort-style multi-housing community in Pasadena, California.

The HFF team marketed the property exclusively on behalf of the seller, a joint venture between Mack Real Estate Development LLC, Mill Creek Development, Pacifica Capital Investments, LLC, ARKA Properties and their capital partner. The property was purchased by a private foreign investor.

The Andalucia is located at 686 East Union Street in Pasadena’s coveted Playhouse District a short walk to the boutiques and restaurants situated along Colorado Boulevard.  Completed in 2017, the property’s design reflects the city’s timeless Spanish architecture and encompasses approximately 7,500 square feet of ground-floor retail in addition to the 118 studio, one- and two-bedroom flat and townhome-style units.  The six-story, podium-style building has 11 affordable units and community amenities, including a rooftop lounge, outdoor community lounge, fitness center, clubhouse and secured underground parking.

The HFF investment advisory team representing the seller included managing director Blake Rogers and senior managing director Sean Deasy.