Updated Dec 6, 2024
Ocean West Capital Partners & Rockwood Capital Acquire Office Building In Newport Beach For $64M
1301 Dove Street, Newport Beach, CA, USA
$64,000,000
$297/SF
Building Size
214,858 SF
Asset Type
Office
Closing
Nov 4, 2021
About this deal
AI
Located at 1301 Dove Street in Newport Beach, this office property was recently sold in a transaction handled by Kevin Shannon, Paul Jones, Brunson Howard, Ken White, and Brandon White of Newmark. The deal took place on November 4, 2021.
Summary of transaction details:
- Property Type: Office
- Sale Price: $64,000,000
- Square Footage: 214,858
- Price per Square Foot: $298
- Market: Newport Beach
Ocean West Capital Partners and Rockwood Capital were the buyers in this transaction. They were represented by Kevin Shannon, Paul Jones, Brunson Howard, Ken White, and Brandon White from Newmark. The sale of this office property represents a significant investment in the Newport Beach market.
On the Map
$64,000,000
$297/SF
Office
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Players
Newport Beach Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93