Rockwood Capital pays $66M for Santa Monica phone building

An affiliate of investment firm Rockwood Capital has paid $65.7 million for the 1930s-era Telephone Building in Santa Monica. Verizon maintains a condominium stake in the creative office property. The seller, DivcoWest Real Estate Investments, had acquired the 58,000-square-foot building three years ago for $52 million. The most recent sale ...