Updated Oct 28, 2024
Lionstone Investments Acquires 146,510 SF Medical Office In Newport Beach For $125M
351 Hospital Road, Newport Beach, California 92663, United States
$125,000,000
$853/SF
Building Size
146,510 SF
Asset Type
—
Closing
Feb 3, 2022
About this deal
AI
The medical office property located at 351 & 361 Hospital Road in Newport Beach has been sold. The property spans across 7 acres and is situated in the Newport Beach market. The transaction took place on February 3, 2022.
Summary of transation details
- Property Type: Medical Office
- Transaction Amount: $125,000,000
- Address: 351 & 361 Hospital Road, Newport Beach
- Square Footage: 146,510
- Price per Square Foot: $853
The buyer of the property is Lionstone Investments, while the seller is Newport Lido Medical. The deal was facilitated by the brokers Andrew Milne, Evan Kovac, John Chun, Niema Beglari, Matt DiCesare, Chad Prescher, Trent Jemmett, Blake Bokosky, Mark DeGiorgio, Monica Enes, and Kellie Hill of JLL.
Players
Newport Beach CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
Loading comparables…
Deal FAQ
Visit Trent Jemmett to view all their deals.
Browse California sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93