The Park Santa Monica faces Dec. 3 foreclosure sale, $513.7M owed

In a California nonjudicial sale, the lender can credit bid what it is owed. If no outside bidder tops that, the keys generally pass to the lender.

More local coverage sits on the Los Angeles market hub.

The numbers

• Claimed owed: about $513.7 million as of Oct. 30, per the notice, roughly $109 million above the $405 million principal it secures.
• Loan history: a $324 million loan made in 2021, with the secured principal raised to $405 million in an amendment recorded Nov. 22, 2024, per the notice as reported.
• A year ago: about $439.5 million was reported owed in November 2025, so the balance grew by roughly $74 million.
• Building: 249 units, ground-floor retail including Trader Joe’s, a 1-acre rooftop park and underground parking.

What’s next

First American Title, as trustee, is set to sell the property at 11 a.m. Dec. 3 at 400 Civic Center Plaza in Pomona, under Trustee Sale No. 1278460. The lender has elected a unified sale, so the land, building, fixtures, leases and rents go as one lot. The notice warns the sale can be postponed, and postponements post at First American’s foreclosure site. We will check the outcome on Dec. 3.