Elysian Housing buys Pasadena offices as resi conversion plans advance through city approvals
More apartments are poised to enter Pasadena’s housing stock after the sale of an office building in the city. Elysian Housing purchased the ZK Plaza property at 600 North Rosemead Boulevard from Chinese ownership group Star Horizon for $13.4 million, L.A. Business First reported. The sale price was $450,000 more than the property’s initial asking price. NAI Capital Commercial’s John Archibald, Guillermo Olaiz and Stephen Lam represented Star Horizon in the sale. Star Horizon originally bought the building to serve as its travel agency headquarters but decided to sell “rather than continue navigating the current office market and the challenges […]This article originally appeared on The Real Deal. Click here to read the full story.
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