A 12-story Art Deco office tower at 225 Santa Monica Blvd. sold for $28.5 million, according to the Santa Monica Daily Press, which cited The Real Deal in its Oct. 30, 2026 report. The buyer was an entity tied to Simon, Daniel and Joseph Mani of West Hollywood-based Mani Brothers Real Estate Group, per court documents cited by the outlet.
That is roughly half of the $58 million Rockwood Capital paid for the building in 2019, the Daily Press reported. Rockwood bought it from Sorgente Group of America and assumed about $27 million in commercial mortgage-backed securities debt.
Sorgente, an Italian real estate investment firm, had paid $34.3 million for the tower in 2013, according to a 2013 Daily Press report. The firm’s executive said at the time, “Our primary reason for purchase is to conserve this cultural landmark.”
Santa Monica’s historic Clock Tower building just sold for $28.5M, about half its 2019 price.Read More: t.co/VSW1E0FBZ1➡️ Follow for more Santa Monica news pic.twitter.com/QVajrLq1mc
— Santa Monica Daily Press (SMDP) (@smdailypress) October 30, 2026The same report said Sorgente also owned New York City’s Flatiron Building, then 183,449 square feet.
Walker & Eisen developed the Santa Monica tower in 1929, per the 2013 report. It has 12 stories, and the Daily Press calls it a century-old Art Deco landmark that was once the city’s tallest.
The building was 100% occupied when its loan was issued in 2015, and 43% occupied as of September 2024, according to Morningstar, as cited by the Daily Press.
Santa Monica’s retail sales are down nearly one-third, while commercial vacancies remain among the region’s highest.Read more: t.co/1qkVlxSwWeFollow for more Santa Monica News. pic.twitter.com/uVGY3LLAqc
— Santa Monica Daily Press (SMDP) (@smdailypress) October 2, 2026The loan went into special servicing after it missed its May 2025 maturity date. The special servicer, Rialto Capital, sued in September 2025, alleging Rockwood owed about $25 million, per the outlet.
Rockwood consented to a receiver in hopes of a sale, according to a 2025 report from The Real Deal. The court named Brian Holmes of Cushman & Wakefield as receiver in October 2025.
Morningstar valued the tower at $49 million in 2015, The Real Deal reported, and at $27.4 million in summer 2025. Santa Monica’s office vacancy rate stood at 25.8%, according to the commercial real estate firm CBRE, as cited by the outlet.
Related: In 2022, Allstate paid $29.7 million for a 10-story Chicago office tower on Wacker Drive; two years later, it sold the building for $11 million
Hence then, the article about in 2019 rockwood capital paid 58 million for santa monica s art deco clock tower building it just sold out of receivership for 28 5 million was published today ( ) and is available on Parade ( Saudi Arabia ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( In 2019, Rockwood Capital paid $58 million for Santa Monica’s Art Deco Clock Tower building; it just sold out of receivership for $28.5 million )
Also on site :
- Dolly Parton donated $1 million to Vanderbilt University Medical Center in 2020 to help fund the critical early research behind Moderna’s COVID-19 vaccine
- Walmart Will Have Three Major Shopping Events This Holiday Season
- In 1984, Alabama Released the Wrong Song as a Single; Radio DJs Flipped the Record Over and Made the B-Side Their 14th Straight No. 1