Malls · California
Santa Monica Place
Santa Monica Place remains open but faces a $300 million CMBS loan default, leaving its future ownership and use uncertain today. · summary, model-written
Solid = from the authors' map · outlined = public source · dashed = model-written, not yet reviewed by a person. Tap any value's source label to see where it came from.
Site profile5 elements · what this retrofit is built with · tap a chip for the evidence
Default or watchlist
This site: research-deals · all sites with thisRecorded loan
This site: 300000000.0 CMBS trust research-deals · all sites with thisCounty permitting 2,000+ apartment units a year
This site: 9,430 units, Los Angeles County census-bps · all sites with thisCounty typical rent $2,000+
This site: $2,806/mo zillow · all sites with thisShrinking county
This site: -2.5% census-acs · all sites with thisNow
| Status | Operatingpublic reporting |
|---|
Deals and debt
| Date | Event | Price | Parties | Source |
|---|---|---|---|---|
| 2024-04 | Loan · default | — | ← Macerich · lender CMBS trust · loan $300.0M | Commercial Observer 2024-04 |
Securitised debt and public filers
Filings (2001 to date) that name “Santa Monica Place” and “Santa Monica” (316 hits, first 100 sampled, 4 other filers such as tenants left out). Common name: these matches are unreliable. No commercial-mortgage trust names this mall in the sample, which does not rule out a securitised loan. Text matches, not a title search. Open the search · all trusts.
| Kind | Filer | Filings | Dates | Forms |
|---|---|---|---|---|
| Public owner (strong) | MACERICH CO (MAC) | 87 | 2001-03-29 to 2026-08-05 | 8-K 66, 10-Q 11, 10-K 10 |
| Public owner (weak) | Pebblebrook Hotel Trust (PEB, PEB-PE, PEB-PF, PEB-PG, PEB-PH) | 2 | 2010-11-22 to 2010-11-22 | 8-K 2 |
| Public owner (weak) | LaSalle Hotel Properties | 2 | 2011-03-18 to 2012-07-18 | 8-K 2 |
As reported by the owner
Property tables from the owner's annual report (Form 10-K, Item 2) on EDGAR, one row per filing year. GLA, occupancy and anchors are the filer's own figures at that year end; “leased” counts signed leases, “occupied” counts open stores; ownership is the filer's share. Matched by name and place, unreviewed; the verbatim table row is in sec_facts.csv.
| Year end | Filer | Name in filing | GLA sq ft | Occupancy | Years | Share | Sales psf | Anchors listed |
|---|---|---|---|---|---|---|---|---|
| 2025 | Macerich 10-K, 2026-02-20 | Santa Monica Place Santa Monica, CA match: exact | 357,000 in-line 357,000 | 71.2% leased | built 1980 / acquired 1999 | 100.0% | ||
| 2016 | Macerich 10-K, 2017-02-24 | Santa Monica Place Santa Monica, CA match: exact | 517,000 in-line 294,000 | 86.5% leased | built 1980 / acquired 1999 / renovated 2015 | 100.0% | Bloomingdale's, Nordstrom | |
| 2009 | Macerich 10-K, 2010-02-26 | Santa Monica Place Santa Monica, CA match: exact | 524,000 in-line 300,000 | 10.0% leased | built 1980 / acquired 1999 | 100.0% | Bloomingdale's, Nordstrom |
Site context
| Housing permits, Los Angeles County (CA), 2024 | 9,430 units in 5+ unit buildings, 1,273 in 2–4, 9,106 single-family; 2023: 13,214 in 5+Census BPS |
|---|---|
| Other atlas sites nearby | 2 within 10 km, 28 within 25 km: Pickle Pop (0.7 km); Westside Pavilion (5.7 km)computed |
| Retail trade in the county, 2012 to 2023 | 28,998 establishments (+2%); 419,890 jobs (+8%)Census CBP |
| Housing market in the county | typical home value $871,674 (+0% 1 yr, +13% 5 yr); typical rent $2,806/mo (+1% 1 yr), 2026-09Zillow Research |
| Traffic on the busiest road within 600 m (2024) | 18,961 vehicles a day (minor arterial, 2 lanes); 35 counted segmentsFHWA HPMS |
Summary, model-written
Santa Monica Place opened as a mall and remains operating, but in April 2024 its owner Macerich defaulted on a $300 million CMBS loan, putting the asset under distress.
Why. The record cites a distressed loan or foreclosure as the reason for the opportunity score, indicating the loan default is the primary stressor.
Where it stands. The mall is currently operating, with Macerich as the recorded owner while the loan is in default to a CMBS trust lender.
For a planner
- No explicit planning precedents or policy tools are recorded.
- Open questions include the outcome of the loan default process and any potential reuse or redevelopment plans.
For a developer
- Site size and parcel boundaries are not provided in the record.
- Control is split between owner Macerich and the lender due to loan default.
- Entitlement stage and any zoning approvals are unknown.
- Context‑layer constraints (flood, transit, environment) and market signals from tract data are not recorded.
What we do not know yet
- Opening date, original anchor tenants, and current occupancy are unknown.
- Exact site dimensions and parcel layout are missing.
- Detailed loan terms beyond amount and default status are not provided.
- Environmental, flood, and transit constraints from context layers are absent.
- Tract‑level market data and verification status (draft) introduce uncertainty.
Generated by nvidia/nemotron-3-super-120b-a12b on NVIDIA API via Hermes CT from the fields, parcels, deals and context layers on this page, with no outside knowledge. It is regenerated when the record changes and has not been checked by a person. How it is made.
Elsewhere on the web
Pages with photos
- Santa Monica Place | Home santamonicaplace.com
- Santa Monica Place - All You SHOULD Know Before Going (w/ Reviews) tripadvisor.ca
- Santa Monica Place shoppin… alamy.com
- Santa Monica Place | LEED Gold Certified Open-Air Shopping Plaza | OMNIPLAN omniplan.com
- Santa Monica Place by OMNIPLAN architizer.com
- Santa Monica Place Stores Sun, Sand & Sustainability 🌞♻ Visit Us fity.club
- Santa Monica Place Opens With Events From Intimate to Giant bizbash.com
Search images: Google · Bing · Commons · references: ULI case studies · Google Scholar
Multifamily screen
- county shrank -2.5% 2018–23
- median rent $1,893
- distressed loan or foreclosure
Inputs: record fields (size, status) and county Census ACS 2018–2023 figures (growth, rent). How the points work. Not a recommendation.
History and original facts
| County | Los Angeles County |
|---|---|
| Census division | 9 · Pacific |
| Notes | Record created from a 2024+ transaction, listing or loan report; no retrofit recorded. |
Not yet recorded: acres, GLA, year opened, original developer, what is there now, retrofit year. Know it? Tell us.
Sources
- $300M CMBS Loan Secured by Santa Monica Place Mall Faces Imminent Default · 2024-04
1 quoted sentence
$300M CMBS Loan Secured by Santa Monica Place Mall Faces Imminent Default