Apartment Complex Above Trader Joe's Heads to Auction
SANTA MONICA - A downtown Santa Monica apartment complex with 249 luxury rentals is headed for the auction block, with its lender claiming more than half a billion dollars is owed. The Park faces a Dec. 3 foreclosure auction, according to the Santa Monica Daily Press , which reported on a notice of trustee's sale posted at the building. The notice estimates $513.7 million was owed as of Oct. 30, roughly $74 million above the balance reported in November 2025.The property, owned by a venture of Pimco and the Witkoff Group, opened in 2022, the Daily Press reported.The development pairs apartments with 55,000 square feet of retail and a one-acre rooftop park, according to Witkoff's project description . Witkoff also lists a rooftop pool and communal lounges among the residential amenities. The building's leasing website advertises homes ranging from studios to three-bedroom apartments.For shoppers, the address is also home to the Trader Joe's at Fifth Street and Broadway , which occupies retail space in the complex.First American Title Insurance Co. is scheduled to conduct the auction at 11 a.m. Dec. 3 in the Civic Center Plaza courtyard in Pomona, the Daily Press reported.The planned sale includes the building and land
