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Olive Hill Adding Santa Monica Asset for $117M
Los Angeles-based Olive Hill Group, LLC is acquiring 520 Broadway, a 112,987-square-foot office building in Santa Monica, from Tishman Speyer for $117 million. Constructed in 1981, the property underwent $13.2 million in renovations in 2013. At the time of acquisition, the asset was 82% occupied.
The property is located within walking distance of the recently-opened Santa Monica Light Rail Station, retail developments such as Third Street Promenade and Santa Monica Place, and nearly 350 new luxury multifamily units. Amenities include a four-story subterranean parking structure, 24-hour manned security and a newly-renovated exterior plaza.
Olive Hill Group’s Michael Cho says, “This is a unique investment opportunity in a very supply constrained region of Silicon Beach. 520 Broadway is the only building of this size in the Downtown area not held by long-term ownership.”
Eastdil Secured represented the buyer.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


