PROFESSIONAL_SERVICESDISCUSSED

Pasadena Unified School District Resolution 2985 2026-06-25

CBRE Identified as Broker for Proposed Ground Lease

Brokerage fee equal to 4% of the cumulative first 25 years of ground lease payments (paid by Lessee and split between Lessor’s and Lessee’s brokers)Pasadena UnifiedCBREJune 24, 2026

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Description

CBRE is named in Park IV Group LLC’s proposal as the Pasadena Unified School District’s broker for a potential 99-year ground lease of the Linda Vista site, to be compensated from a 4% commission on the first 25 years of lease payments paid by the lessee. The arrangement would cover marketing and negotiation support for the contemplated transaction.

Contract Details

Contract Amount

Brokerage fee equal to 4% of the cumulative first 25 years of ground lease payments (paid by Lessee and split between Lessor’s and Lessee’s brokers)

Vendor

CBRE

Agency

Pasadena Unified, CA

Contract Type

PROFESSIONAL_SERVICES

Document Date

June 24, 2026

Contract Term

Brokerage services for the contemplated ground lease transaction; term not specified

Renewal Info

Any continuation or renewal of brokerage services would depend on execution of a definitive ground lease and any subsequent agreements; no renewal terms are specified in the Letter of Intent.