Olive Hill forms JV with Artemis Partners to recapitalize prime Silicon Beach Property

Olive Hill Group and Artemis Real Estate Partners have formed a joint venture and recapitalized the 520 Broadway creative office building in downtown Santa Monica, Calif.

Under the terms of the joint venture, Olive Hill will retain partial ownership of 520 Broadway and remain the property’s operator.

“We decided to work with Artemis because we wanted to develop a long-term relationship with a partner that shares our vision of providing class-A creative office communities in LA’s thriving Silicon Beach submarket,” said Tim Lee, principal at Olive Hill Group.      

The 112,756-square-foot office building was purchased in December 2017 by Olive Hill with an 82 percent occupancy. In November 2018, Olive Hill signed a long-term lease for approximat