US EditionDowntown Santa Monica Landmark Faces Uncertainty as Loan Misses Maturity Deadline
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Downtown Santa Monica Landmark Faces Uncertainty as Loan Misses Maturity Deadline
$26.7M Santa Monica Office Loan Moves to Special Servicing Amid Cash Flow Shortfall Morningstar Credit reported that the loan tied to Santa Monica’s historic Clock Tower has moved to special servicing after missing its May maturity deadline, as reported by The Real Deal. Valued at $26.7 million, the loan originated in 2015 and is backed by the 12-story Art Deco office tower at 225 Santa Monica Boulevard, owned by Rockwood Capital. Once fully lea…
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