**Prism Places Tapped to Manage Santa Monica Place**
Prism Places has been named the new property manager for Santa Monica Place, a 527,000-square-foot retail center located in Santa Monica, California. The management transition follows the appointment of Trigild as the court-appointed receiver for the property. Trigild took control of the asset last month and selected Prism Places to oversee day-to-day operations.
The change in management comes after the property’s longtime owner, Macerich, defaulted on a $300 million loan late last year.
“After the devastating fires, the Westside of Los Angeles is in need of community and places to gather,” said Stenn Parton, founder and CEO of Prism Places. “Santa Monica has had its challenges even before the fires, and the neighborhood of Pacific Palisades has endured so much loss — my home included. We’re motivated and inspired to restore Santa Monica Place to the heart and soul of this community.”
Originally designed by renowned architect Frank Gehry, Santa Monica Place underwent a $265-million renovation in 2010, transforming it into a modern open-air shopping destination. The center is home to a range of retailers, including several high-end and luxury brands.
With new leadership in place, Prism Places looks to revitalize the iconic retail center and re-establish its role as a vibrant community hub on the Westside.
