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5000 Birch Street

Joe C. Wen Acquires Office At 5000 Birch Street Newport Beach With Broker Mark DeGiorgio
SOLDOffice

Joe C. Wen Acquires Office At 5000 Birch Street Newport Beach With Broker Mark DeGiorgio

5000 Birch Street

Building Size

310,553 SF

Asset Type

Office

Closing

Apr 7, 2025

AI

The property asset involved in this transaction is an office located at 5000 Birch Street, Newport Beach. This asset encompasses a total square footage of 310,553. The transaction occurred on April 7, 2025.

Summary of transaction details:

This transaction involved Joe C. Wen as the buyer, who engaged in the purchase through broker Mark DeGiorgio, representing the buyer from Institutional Property Advisors, a division of Marcus & Millichap.

Players

Mark DeGiorgio

Institutional Property Advisors

Broker

$626M

vol

12 deals

Broker

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93