IndyMac Sells Office Property

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IndyMac Bancorp Inc. said Thursday that it has sold a Pasadena office building for $116 million.


The Pasadena-based trust said it sold property located at 3453, 3455, 3465 and 3475 East Foothill Boulevard to Delaware-based Wells REIT II-Pasadena Corporate Park LP.


The company also said in the statement that it should book a profit of around $60 million from the sale — $24 million immediately with the remaining amount spread out over a 10-year lease IndyMac agreed to for some of the property.


Shares in IndyMac closed up 27 cents to $28.94 in trading Thursday on the New York Stock Exchange. The stock has dropped more than 36 percent so far this year.

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