Olive Hill Group LLC has acquired 520 Broadway, a Class A office building located in Santa Monica, CA. The asset encompasses 112,987 square feet and has been sold for $117 million. The building was constructed in 1981 and underwent significant renovations costing $13.2 million in 2013.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $117,000,000
• Square Footage: 112,987
• Address: 520 Broadway, Santa Monica, CA
• Buyer's Representative: Grace Winters from Phelps & Phillips LLP
• Buyer: Olive Hill Group LLC

At the time of the transaction, the building was 82 percent occupied, and there were three tenant offers made to Olive Hill Group prior to the completion of the deal. Steven Edwards and Grace Winters represented the buyer as legal counsel in this transaction.