Promenade Gateway
A mixed-use property in Santa Monica, California. Securitized in 1 CMBS deal in 2016.
$180.0MAppraised value (latest deal)
94.5%Occupancy
$7.6MUnderwritten NOI
4.2%Implied cap rate
- Address
- 1453-1457 3rd Street Promenade, Santa Monica, CA 90401
- Property type
- Mixed Use · Office/Retail/Multifamily
- Year built
- 1989, 2006
- Size
- 22,534 SF
- Sponsor
- Maxxam Enterprises, L.P.; 3D Investments III, L.P.
- Loan purpose
- Refinance
- Largest tenant
- AMC Theaters
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| COMM 2016-DC2 | 2016-03-16 | $180.0M | 94.5% | $7.6M | 4.2% | $30.0M | 50.0% | 1.81x | 424B |
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%.