1700 Pavilion
An office property in Las Vegas, Nevada. Securitized in 1 CMBS deal in 2025.
$121.9MAppraised value (latest deal)
92.1%Occupancy
$8.6MUnderwritten NOI
7.0%Implied cap rate
- Address
- 1700 South Pavilion Center Drive, Las Vegas, NV 89135
- Property type
- Office · CBD
- Year built
- 2022
- Size
- 265,898 SF
- Sponsor
- Howard Hughes Holdings Inc.
- Loan purpose
- Refinance
- Largest tenant
- Wynn Design & Development
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BMARK 2025-V15 | 2025-05-23 | $121.9M | 92.1% | $8.6M | 7.0% | $55.0M | 61.5% | 1.51x | 424B |
Historical NOI reported in BMARK 2025-V15
| Period ending | NOI |
|---|---|
| 1/31/2025 | $7.3M |
| 12/31/2024 | $7.0M |
| 12/31/2023 | $3.1M |
More CMBS properties in Nevada →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.