City: Santa Monica

Community Corp. used a $15 million loan from the city of Santa Monica's Housing Trust Fund to acquire the complex.

Telephone Building

Pico Lanai Apartments

HFF arranged $17.6 million of financing on behalf of the buyer.

The deal includes two neighboring properties - office and apartment buildings. The properties that the Westmont/Square Mile venture purchased were appraised in 2015 at a value of $159.4 million. They were acquired by Procaccianti as part of a larger portfolio ...

The property consists of 39,200 sf of medical-office space and 6,700-sf of retail space.

94 percent leased.