We report on new modeling results based on the mm- to X-ray emission of the SgrA* counterpart associated with the massive black hole at the Galactic Center. Our modeling is based on simultaneous observations carried out on 07 July, 2004, using the ESO NACO adaptive optics instrument and the ACIS-I instrument aboard the Chandra X-ray Observatory as well as the SMA and the VLA. The observations revealed several flare events in all wavelength domains. Here we show that a combined synchrotron self-Compton (SSC) model followed by an adiabatic expansion of the source components can fully account for the observed flare flux densities and delay times covering the spectral range from the X-ray to the mm-radio domain. The derived physical quantities that describe the flare emission give a blob expansion speed of v{exp}=0.005c, magnetic field of < 60G and spectral indices of 0.8 to 1.4. The derived model parameters suggest that the adiabatic expansion takes place in source components that have a bulk motion larger than v{exp} or the expanding material contributes to a corona or disk, confined to the immediate surroundings of SgrA*.