News Headlines Article

UC signs $147-million deal to rent a Santa Monica medical facility
Los Angeles Times - Roger Vincent

In a rare nine-figure real estate deal, the Regents of the University of California have agreed to pay $147 million over 30 years to rent a medical facility planned in Santa Monica. Developer Randy Miller hopes to begin construction on the three-story building by August. It would rise on a parking lot at 1223 16th St., across the street from the Santa Monica-UCLA Medical Center and Orthopaedic Hospital.