Pasadena office building at 35 N. Lake Ave Acquired by State Compensation Insurance Fund | Real Estate Services M&A Deal

State Compensation Insurance Fund has acquired Pasadena office building at 35 N. Lake Ave, a property management business in California, for $33 million. The acquisition expands State Compensation Insurance Fund acquisitions tied to real estate services and CA acquisitions in Pasadena. The target property management asset supports leasing and building operations for an office location at 35 N. Lake Ave in Los Angeles-area markets. The divestiture acquisition is announced and valued in the $25M–$50M range, reflecting a strategic real estate services M&A approach by a not-for-profit insurance carrier.