Mani Brothers buy Santa Monica Clock Tower for $28.5M, per Registry
A Mani Brothers-tied entity is reported to have bought Santa Monica's Clock Tower Building out of receivership and assumed its CMBS loan, per The Registry.
- Source Briefing
- Read original source · The Registry SoCal
An entity tied to Mani Brothers Real Estate Group has bought the Clock Tower Building at 225 Santa Monica Blvd. out of receivership, The Registry SoCal reported on Nov. 5. We have not yet pulled the recorded deed, so the details below are attributed to the outlet.
Why it matters
If the report holds, it is a CMBS-financed Westside office asset resolved at a steep discount, a pricing marker for LA office buyers and lenders. According to The Registry, the buyer assumed the existing CMBS loan rather than bringing fresh debt, which keeps the original lender structure in place. The outlet reports the price is about half what Rockwood Capital paid in 2019.
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The numbers
- Reported price: $28.5 million, per The Registry.
- Size: about 55,000 square feet, per The Registry’s headline.
- Rockwood’s 2019 purchase: The Registry says the new price is about half of it. We have not confirmed the 2019 figure.
These figures come from press reports and have not been matched to a recorded transfer. Any price implied by the county’s recorded transfer tax will be added once the deed is pulled.
What’s next
The recorded deed and the assumption documents would confirm the buyer entity, the price and the loan balance. The Registry did not publish those details in the portion we could read. A court record of the receivership, if one is located, should show when the receiver is discharged.
We have queued a records pull for the deed and will update this story if the filing differs from the reported terms. Neither Mani Brothers Real Estate Group nor Rockwood Capital has been quoted on the sale in the material we reviewed.
More in Foreclosure & Distress News.
Quick answers
- What is the latest on Mani Brothers Real Estate Group in Los Angeles?
- A Mani Brothers-tied entity is reported to have bought Santa Monica's Clock Tower Building out of receivership and assumed its CMBS loan, per The Registry.
- What are the key numbers for Mani Brothers Real Estate Group?
- reported price (The Registry): $28.5M; building size (The Registry): 55,000 sf; of Rockwood's 2019 price (per The Registry): ~50%.
- Where does the information on Mani Brothers Real Estate Group come from?
- The story cites The Registry SoCal.
Sources
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