610 Newport Center
An office property in Newport Beach, California. Securitized in 1 CMBS deal in 2024.
$191.0MAppraised value (latest deal)
92.4%Occupancy
$14.6MUnderwritten NOI
7.6%Implied cap rate
- Address
- 610 Newport Center Drive, Newport Beach, CA 92660
- Property type
- Office · Suburban
- Year built
- 1972
- Size
- 285,638 SF
- Sponsor
- The Irvine Company LLC
- Loan purpose
- Recapitalization
- Largest tenant
- Chipotle
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BANK 2024-BNK48 | 2024-10-01 | $191.0M | 92.4% | $14.6M | 7.6% | $30.0M | 44.5% | 2.92x | 424B |
Historical NOI reported in BANK 2024-BNK48
| Period ending | NOI |
|---|---|
| 5/31/2024 | $13.3M |
| 12/31/2023 | $12.3M |
| 12/31/2022 | $12.0M |
More CMBS properties in California →
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%.