Santa Monica Place Mall’s Value Plummets 59%
Commercial Observer
November 20, 2024, 5:50 pm
The 523,139-square-foot Santa Monica Place shopping mall in Santa Monica, Calif., saw a big drop in value at its latest appraisal, according to new information from Trepp, citing November remittance data. The asset’s value dropped 59 percent in just seven years to $255 million, below the $300 million loan balance.
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