The Qube
An office property in Detroit, Michigan. Securitized in 1 CMBS deal in 2022.
$103.0MAppraised value (latest deal)
90.6%Occupancy
$9.5MUnderwritten NOI
9.2%Implied cap rate
- Address
- 611 Woodward Avenue, Detroit, MI 48226
- Property type
- Office · CBD
- Year built
- 1958
- Size
- 522,702 SF
- Sponsor
- Bedrock Detroit
- Loan purpose
- Refinance
- Largest tenant
- Quicken Loans
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| MSC 2022-L8 | 2022-04-07 | $103.0M | 90.6% | $9.5M | 9.2% | $2.9M | 59.4% | 3.30x | 424B |
Historical NOI reported in MSC 2022-L8
| Period ending | NOI |
|---|---|
| 9/30/2021 | $8.9M |
| 12/31/2020 | $8.2M |
| 12/31/2019 | $8.1M |
More CMBS properties in Michigan →
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%.