{"id":3319,"date":"2024-10-11T12:24:17","date_gmt":"2024-10-11T19:24:17","guid":{"rendered":"https:\/\/www.lee-associates.com\/pasadena\/?p=3319"},"modified":"2024-10-11T14:07:30","modified_gmt":"2024-10-11T21:07:30","slug":"lee-associates-pasadena-successfully-closes-211-south-poinsettia-place-in-los-angeles","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/pasadena\/2024\/10\/11\/lee-associates-pasadena-successfully-closes-211-south-poinsettia-place-in-los-angeles\/","title":{"rendered":"Lee &amp; Associates &#8211; Pasadena Successfully Closes 211 South Poinsettia Place in Los Angeles"},"content":{"rendered":"<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-3326 size-medium alignleft\" src=\"https:\/\/www.lee-associates.com\/pasadena\/wp-content\/uploads\/sites\/58\/2024\/10\/211-Poinsettia-300x219.jpg\" alt=\"\" width=\"300\" height=\"219\" srcset=\"https:\/\/www.lee-associates.com\/pasadena\/wp-content\/uploads\/sites\/58\/2024\/10\/211-Poinsettia-300x219.jpg 300w, https:\/\/www.lee-associates.com\/pasadena\/wp-content\/uploads\/sites\/58\/2024\/10\/211-Poinsettia.jpg 586w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/strong><\/p>\n<p><strong>October 11, 2024 (Pasadena, CA) \u2013 <\/strong>Lee &amp; Associates \u2013 Pasadena<\/p>\n<p>Founding Principal, <a href=\"https:\/\/www.lee-associates.com\/pasadena\/colleen-carey\/\">Colleen Carey<\/a> and Senior Vice President, <a href=\"https:\/\/www.lee-associates.com\/pasadena\/robert-leveen\/\">Robert Leveen<\/a>, represented the Buyer in a successful 1031 Exchange of 211 South Poinsettia Place in Los Angeles.<\/p>\n<p>&nbsp;<\/p>\n<p>211 South Poinsettia Place is a seven-unit multi-family property built in 1989, with 12,976 square feet and a 4,000 square foot Penthouse Apartment. The property sits in a great location in Miracle Mile near Pan Pacific Park, The Grove, Farmers\u2019 Market, and LACMA. The buyer was in a 1031 exchange.\u00a0 The seller, who no longer lives in the United States, had developed the property to live in the Penthouse unit.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cOur client was seeking a cash flowing apartment investment with a long-term view of someday potentially occupying one of the units.\u00a0 A tall order indeed within the 1031 exchange timeline.\u00a0 Fortunately, the prior escrow fell out and we were able to address some of the sellers\u2019 needs and put it under contract.\u00a0 The oversized penthouse was very appealing to our client, given their desire to potentially occupy it many years in the future.\u201d explains Robert Leveen.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cThe Buyer is a long-term client of mine, having represented them several years ago in the purchase of the multi-tenant office building that became the downleg for this acquisition plus a smaller office building in South Pasadena that will serve as their corporate headquarters.\u201d explains Colleen Carey.<\/p>\n<p>&nbsp;<\/p>\n<table style=\"border-collapse: collapse;width: 100%\">\n<tbody>\n<tr>\n<td style=\"width: 16.6667%\"><span style=\"font-family: arial, helvetica, sans-serif\"><strong><span style=\"font-size: 10pt\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-777\" src=\"https:\/\/www.lee-associates.com\/pasadena\/wp-content\/uploads\/sites\/58\/2019\/02\/Colleen-Carey-277x300.png\" alt=\"\" width=\"191\" height=\"207\" \/><\/span><\/strong><\/span><\/td>\n<td style=\"width: 16.6667%\"><span style=\"font-family: arial, helvetica, sans-serif\"><strong><span style=\"font-size: 10pt\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1457\" src=\"https:\/\/www.lee-associates.com\/pasadena\/wp-content\/uploads\/sites\/58\/2019\/04\/Robert-Leveen-277x300.png\" alt=\"\" width=\"191\" height=\"207\" \/><\/span><\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 16.6667%\"><span style=\"font-family: arial, helvetica, sans-serif\"><strong><span style=\"font-size: 10pt\"><a href=\"https:\/\/www.lee-associates.com\/pasadena\/colleen-carey\/\">Colleen Carey<\/a><br \/>\n<\/span><\/strong><\/span><span style=\"font-family: arial, helvetica, sans-serif\"><span style=\"font-size: 10pt\"><strong>Principal<br \/>\n<\/strong><\/span><\/span><span style=\"font-family: arial, helvetica, sans-serif\"><span style=\"font-size: 10pt\">626.240.2782<br \/>\n<a href=\"ccarey@lee-associates.com\">ccarey@lee-associates.com<\/a><br \/>\n<\/span><span style=\"font-size: 10pt\">License ID 01258120<\/span><\/span><\/td>\n<td style=\"width: 16.6667%\"><span style=\"font-family: arial, helvetica, sans-serif\"><strong><span style=\"font-size: 10pt\"><a href=\"https:\/\/www.lee-associates.com\/pasadena\/robert-leveen\/\">Robert Leveen<\/a><br \/>\nSenior Vice President<br \/>\n<\/span><\/strong><span style=\"font-size: 10pt\">213.995.6684<\/span><span style=\"font-size: 10pt\"><br \/>\n<\/span><span style=\"font-size: 10pt\"><a href=\"mailto:robert.leveen@lee-associates.com\">robert.leveen@lee-associates.com<\/a><\/span><strong><span style=\"font-size: 10pt\"><br \/>\n<\/span><\/strong><span style=\"font-size: 10pt\">License ID 01476685<\/span><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong><em>###<\/em><\/strong><\/p>\n<p><strong><u>ABOUT LEE &amp; ASSOCIATES<br \/>\n<\/u><\/strong>Lee &amp; Associates \u2013 Pasadena is a full service commercial real estate company headquartered in Pasadena, CA. Our client-focused brokers specialize in office, retail, tenant advisory, multifamily, and investment sales. As the fastest-growing broker-owned firm in the nation, with more than 60 office locations in North America, we are uniquely qualified to support our clients\u2019 real estate needs in the local, national and international markets. For more information, visit\u00a0<a href=\"http:\/\/www.lee-pasadena.com\/\">lee-pasadena.com<\/a>.<\/p>\n<p><strong><em>###<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>October 11, 2024 (Pasadena, CA) \u2013 Lee &amp; Associates \u2013 Pasadena Founding Principal, Colleen Carey and Senior Vice President, Robert Leveen, represented the Buyer in a successful 1031 Exchange of 211 South Poinsettia Place in Los Angeles. &nbsp; 211 South Poinsettia Place is a seven-unit multi-family property built in 1989, with 12,976 square feet and a 4,000 square foot Penthouse Apartment. The property sits in a great location in Miracle Mile near Pan Pacific Park,&#8230;<\/p>\n","protected":false},"author":197,"featured_media":3325,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,2],"tags":[581,582,595,586,241],"class_list":["post-3319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-press-releases","tag-commercial-real-estate","tag-cre","tag-ilovela","tag-investment-sale","tag-lee-associates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.6 (Yoast SEO v28.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lee &amp; Associates - Pasadena Successfully Closes 211 South Poinsettia Place in Los Angeles - Lee &amp; Associates Pasadena<\/title>\n<meta name=\"description\" content=\"211 South Poinsettia Place Sold by Founding Principal, Colleen Carey and Senior Vice President, Robert Leveen\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/pasadena\/2024\/10\/11\/lee-associates-pasadena-successfully-closes-211-south-poinsettia-place-in-los-angeles\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lee &amp; 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