Macerich surrenders Santa Monica Place to lender after $300M default
June 17, 2024, 6:08 pm
Macerich has surrendered the Santa Monica Place mall to its lender after defaulting on a $300 million loan. The locally based real estate investment trust has walked away from the 527,000-square-foot, open-air mall at 395 Santa Monica Place, a block from the Santa Monica pier, the Santa Monica Daily Press and Women’s Wear Daily reported.
