CCOMMERCIAL REAL ESTATE LOANS NEWPORT BEACH CA, (949) 354-2485 NEWPORT BEACH CA COMMERCIAL REAL ESTATE LOANS, COMMERCIAL REAL ESTATE LOANS IN NEWPORT BEACH CA, commercial real estate financing,
Shopping Center Loans, Apartment Complex Loans, Factory Loans, Industrial Loans, Office Building Loans, Warehouse Loans, Industrial Building Loans, Mixed=Use Loans, Single Use Loans, Owner

 
(949) 354-2485
Call Today!
Commercial Real Estate Loans • Refinancing Commercial Real Estate • Commercial Mortgage • 10 Year Fixed Rate • 30 Year Amortization
CONTACT US ONLINE
   

CONTACT US:


COMMERCIAL
REAL ESTATE LOANS
CALIFORNIA
.com

 

 

 

 
COMMERCIAL REAL ESTATE LOANS NEWPORT BEACH CA
COMMERCIAL MORTGAGES NEWPORT BEACH CA
NEWPORT BEACH CALIFORNA
.
FREE LOAN ANALYSIS

We Do Great Commercial Lending!
"Commercial Real Estate
LOANS IN NEWPORT BEACH CA"

We Secure Financing Via SBA Loans, Commercial Real Estate Loans and C&I Loans. PREFERRED PROPERTY TYPES ARE OFFICE, INDUSTRIAL, RETAIL, MULTIFAMILY, MEDICAL AND SPECIAL PURPOSE

PURCHASE AND REFINANCING OPTIONS:
UP TO 10 YEARS FIXED RATE AND 30 YEAR AMORTIZATION

Thank you for your interest in our commercial real estate and small business lending products. Our loan officers have extensive experience in business development, finance, credit administration, policy writing, underwriting, special assets-commercial loan workouts, risk management and research & development. Our primary goal is to make sure that clients are 100% satisfied with the products and services that are delivered. We want our clients to have access to the most competitive rates and terms so that it achieves their financial goals.

The ideal client is a real estate investor or business owner who is in need of financing for the following reasons: purchase or refinance commercial real estate, equipment & machinery acquisition, working capital, business acquisition and debt refinance.    

When its time to make important real estate or financial decisions for your company we know that it can be stressful, complicated, expensive and overwhelming. Our mission is to make the financing process relatively painless, simple, cost effective and even enjoyable.

Common Commercial Real Estate (CCRE) originates commercial real estate and small business loans for investors and small business owners throughout California as well as nationwide. We provide investors and small business owners access to the most competitive financing through prominent national & regional banks, credit unions and private lenders.

For commercial real estate loans we can secure financing for purchases and refinances of existing loans up to $15,000,000. We will provide competitive loan products for a full range of properties, including apartments, retail/shopping centers, office, industrial, single-tenant net lease, medical and special purpose. Fixed interest rates are offered at the periods of 3 years, 5 years, 7 years and 10 years. Depending on the property type, loans can be amortized for up to 30 years. Some of the lenders that we work with offer low origination fees and no pre-payment penalties.

For small business owners, CCRE can secure revolving lines of credit (secured & unsecured) from $50,000 up to $2,000,000; equipment term loans up to $1,500,000; fixed rate commercial real estate loans up to $15,000,000; and SBA loans up to $5,000,000.

Is a commercial loan right for you?

*Commercial Loan Uses

Commercial Real Estate Purchase Commercial Real Estate Refinance
1031 Exchange
Business Acquisition
Business Expansion
Purchase Equipment
Lines of Credit
Long-Term Working Capital
Debt Refinance

WE MAKE LOANS ON PROPERTIES INCLUDING:

Retail
Apartments
Factories / Industrial
Shopping Centers
Office Buildings
Warehouses
Industrial
Mixed-Use / Single Use
Owner Occupied
Medical

Call Us Today (949) 354-2485

ABOUT COMMERCIAL MORTGAGES
COMMERCIAL MORTGAGES NEWPORT BEACH CA
NEWPORT BEACH CALIFORNA

A commercial mortgage is a mortgage loan secured by commercial property, such as an office building, shopping center, industrial warehouse, or apartment complex. The proceeds from a commercial mortgage are typically used to acquire, refinance, or redevelop commercial property.

Commercial mortgages are structured to meet the needs of the borrower and the lender. Key terms include the loan amount (sometimes referred to as "loan proceeds"), interest rate, term (sometimes referred to as the "maturity"), amortization schedule, and prepayment flexibility. Commercial mortgages are generally subject to extensive underwriting and due diligence prior to closing. The lender's underwriting process may include a financial review of the property and the property owner (or "sponsor"), as well as commissioning and review of various third-party reports, such as an appraisal.

There were $3.1 trillion of commercial and multifamily mortgages outstanding in the U.S. as of June 30, 2013. Of these mortgages, approximately 49% were held by banks, 18% were held by asset-backed trusts (issuers of CMBS), 12% were held by government-sponsored enterprises and Agency and GSE-backed mortgage pools, and 10% were held by life insurance companies.

Terms

Loan amount

The loan amount of a commercial mortgage is generally determined based on loan to value (LTV) and debt service coverage ratios, more fully discussed below in the section on underwriting standards.

Loan structure

Commercial mortgages can be structured as first liens or, if a greater loan amount is desired, the borrower may be able to obtain subordinate financing as well, sometimes structured as a mezzanine note or as preferred equity, which generally carries a higher interest rate.

Interest rate

Interest rates for commercial mortgages may be fixed-rate or floating rate. Fixed-rate mortgages on stabilized commercial real estate are generally priced based on a spread to swaps, with the swap spread matched to the term of the loan. Market interest rates as well as underwriting factors greatly affect the interest rate quoted on a particular piece of commercial real estate. Interest rates for commercial mortgages are usually higher than those for residential mortgages.

Fees

Many commercial mortgage lenders require an application fee or good-faith deposit, which is typically used by the lender to cover underwriting expenses such as an appraisal on the property. Commercial mortgages may also have origination or underwriting fees (paid at close as a reduction in loan proceeds) and/or exit fees (paid when the loan is repaid).

Term

The term of a commercial mortgage is generally between five and ten years for stabilized commercial properties with established cash flows (sometimes called "permanent loans"), and between one and three years for properties in transition, for example, newly opened properties or properties undergoing renovation or repositioning (sometimes called "bridge loans"). Mortgages on multifamily properties that are provided by a government-sponsored enterprise or government agency may have terms of thirty years or more. Some commercial mortgages may allow extensions if certain conditions are met, which may include payment of an extension fee. Some commercial mortgages have an "anticipated repayment date," which means that if the loan is not repaid by the anticipated repayment date, the loan is not in default.

Amortization

Commercial mortgages frequently amortize over the term of the loan, meaning the borrower pays both interest and principal over time, and the loan balance at the end of the term is less than the original loan amount. However, unlike residential mortgages, commercial mortgages generally do not fully amortize over the stated term, and therefore frequently end with a balloon payment of the remaining balance, which is often repaid by refinancing the property. Some commercial mortgages have an interest-only period at the beginning of the loan term during which time the borrower only pays interest.

Prepayment

Commercial loans vary in their prepayment terms, that is, whether or not a real estate investor is allowed to refinance the loan at will. Some portfolio lenders, such as banks and insurance companies, may allow prepayment flexibility. In contrast, for a borrower to prepay a conduit loan, the borrower will have to defease the bonds, by buying enough government bonds (treasuries) to provide the investors with the same amount of income as they would have had if the loan was still in place.

Borrower entity

A commercial mortgage is typically taken on by a special purpose entity such as a corporation or an LLC created specifically to own just the subject property, rather than by an individual or a larger business. This allows the lender to foreclose on the property in the event of default even if the borrower has gone into bankruptcy, that is, the entity is "bankruptcy remote".

Recourse

Commercial mortgages may be recourse or non-recourse. A recourse mortgage is supplemented by a general obligation of the borrower or a personal guarantee from the owner(s) of the property, which makes the debt payable in full even if foreclosure on the property does not satisfy the outstanding balance. A nonrecourse mortgage is secured only by the commercial property that serves as collateral. In an event of default, the creditor can foreclose on the property, but has no further claim against the borrower for any remaining deficiency.

If a sponsor is seeking financing on a portfolio of commercial real estate properties, rather than a single property, the sponsor may choose to take out a cross-collateralized loan, in which the all of the properties collateralize the loan.

Reserves

Lenders may require borrowers to establish reserves to fund specific items at closing, such as anticipated tenant improvement and leasing commission (TI/LC) expense, needed repair and capital expenditure expense, and interest reserves.

Underwriting

Underwriting metrics

Lenders usually require a minimum debt service coverage ratio which typically ranges from 1.1 to 1.4; the ratio is net cash flow (the income the property produces) over the debt service (mortgage payment). As an example if the owner of a shopping mall receives $300,000 per month from tenants, pays $50,000 per month in expenses, a lender will typically not give a loan that requires monthly payments above $227,273 (($300,000-$50,000)/1.1)), a 1.1 debt cover.

Lenders also look at loan to value (LTV). LTV is a mathematical calculation which expresses the amount of a mortgage as a percentage of the total appraised value. For instance, if a borrower wants $6,000,000 to purchase an office worth $10,000,000, the LTV ratio is $6,000,000/$10,000,000 or 60%. Commercial mortgage LTV's are typically between 55% and 70%, unlike residential mortgages which are typically 80% or above.

Lenders look at rents per square foot, cost per square foot and replacement cost per square foot. These metrics vary widely depending on the location and intended use of the property, but can be useful indications of the financial health of the real estate, as well as the likelihood of competitive new developments coming online.

Since the financial crisis, lenders have started to focus on a new metric, debt yield, to complement the debt service coverage ratio. Debt yield is defined as the net operating income (NOI) of a property divided by the amount of the mortgage.

Underwriting practices

Lenders typically do thorough extreme due diligence on a proposed commercial mortgage loan prior to funding the loan. Such due diligence often includes a site tour, a financial review, and due diligence on the property's sponsor and legal borrowing entity. Many lenders also commission and review third-party reports such as an appraisal, environmental report, engineering report, and background checks.

Providers of commercial mortgages

Banks

Banks, large and small, are traditional providers of commercial mortgages. According to the Federal Reserve, banks held $1.5 trillion of commercial mortgages on their books as of June 30, 2013.

Conduit lenders

Conduit lenders originate commercial mortgages and hold them as investments for a short period of time before securitizing the loans and selling CMBS secured by the underlying commercial mortgage loans. Conduit lenders include both banks and non-bank finance companies. Approximately $560 billion of commercial mortgages were held by issuers of CMBS as of June 30, 2013, according to the Federal Reserve.

Securitization of commercial mortgages in its current form began with the Resolution Trust Corporation's (or RTC's) commercial securitization program in 1992-1997. The RTC applied an approach similar to the one it had begun successfully using with residential mortgages, issuing multiple tranches of securities secured by diversified pools of commercial mortgage loans. Following the introduction of the securitization methods by the RTC, private banks began to originate loans specifically for the purpose of turning them into securities. These loans are typically structured to forbid prepayment beyond a specified amortization schedule. This makes the resultant securities more attractive to investors, because they know that the commercial mortgages will remain outstanding even if interest rates decline.

New CMBS issuance peaked in 2007 at $229 billion. Then, the subprime mortgage crisis and the resultant global financial crisis caused CMBS prices to fall dramatically, and new issuances of CMBS securities came to a virtual halt in 2008-2009. The market has begun to recover, with $12 billion in new issuance in 2010, $37 billion in new issuance in 2011, and $48 billion in new issuance in 2012.

Government agencies

Government-sponsored enterprises such as Fannie Mae and Freddie Mac, as well as government corporations such as Ginnie Mae, are active lenders for multifamily commercial real estate (that is, apartment buildings) in the United States. Approximately $390 billion of multifamily residential mortgages were held by government-sponsored enterprises or Agency and GSE-backed mortgage pools as of June 30, 2013, representing 12% of total commercial mortgages outstanding and 43% of multifamily commercial mortgages outstanding at that time.

Insurance companies

Insurance companies are active investors in commercial mortgages, and hold approximately $325 billion of commercial mortgages as of June 30, 2013.

Mortgage brokers

Mortgage brokers do not provide commercial mortgage loans, but are often used to obtain multiple quotes from different potential lenders and to manage the financing process.

Correspondent Lenders

Correspondent Lenders do not loan their own money, but provide front end services such as origination, underwriting, and loan servicing for lenders that utilize these types of companies. The correspondent often represents lenders in a particular geographic area.

References

  1. ^ a b c d e Board of Governors of the Federal Reserve. Z.1 Financial Accounts of the United States. Released September 25, 2013. Accessed November 5, 2013. pp. 104-105, tables L.219 and L.220.
  2. ^ FDIC. Managing the Crisis: The FDIC and RTC Experience. Chapter 16: Securitizations, pp. 417-423. Accessed December 12, 2013.
  3. ^ Commercial Mortgage Alert Market Statistics. U.S. CMBS Monthly Issuance. Click chart for backup and historical data. Accessed December 14, 2013.
  4. ^ a b Annual UK Property Transaction Statistics [PDF]. HM Revenue & Customs. 27 Jun 2014.
  5. ^ Masters, B and Hammond, E. Bank rules hit UK property developers. Financial Times. 16 Jan 2013.
  6. ^ Q4 2013 Credit Conditions Survey. Bank of England. 8 Jan 2014.
  7. ^ Financial Conduct Authority Handbook PERG 4.4.1. Accessed on 30 Apr 2015
  8. ^ What to expect when taking out a BTL mortgage. Homes 24. 15 Apr 2015
ABOUT NEWPORT BEACH CA
COMMERCIAL MORTGAGES NEWPORT BEACH CA
NEWPORT BEACH CALIFORNA
Newport Beach, California
Charter city
Aerial view of Newport Beach in July 2014
Aerial view of Newport Beach in July 2014
Flag of Newport Beach, California
Flag
Official seal of Newport Beach, California
Seal
Location within California and Orange County
Location within California and Orange County
Coordinates: 3337'0?N 11753'51?W? / ?33.61667N 117.89750W? / 33.61667; -117.89750Coordinates: 3337'0?N 11753'51?W? / ?33.61667N 117.89750W? / 33.61667; -117.89750
Country  United States
State  California
County Orange
Incorporated September 1, 1906
Government
  Type Mayor-council
  Body City of Newport Beach City Council
  Mayor Diane B. Dixon
Area
  Total 52.978 sq mi (137.211 km2)
  Land 23.805 sq mi (61.654 km2)
  Water 29.173 sq mi (75.557 km2)  55.07%
Elevation 10 ft (3 m)
Population (April 1, 2010)
  Total 85,186
  Estimate (2013) 87,273
  Density 1,600/sq mi (620/km2)
Time zone Pacific (UTC-8)
  Summer (DST) PDT (UTC-7)
ZIP codes 9265792663
Area code 949
FIPS code 06-51182
GNIS feature IDs 1661104, 2411250
Website

newportbeachca.gov

Symbols of Newport Beach
Flower Bougainvillea
Tree Coral tree

Newport Beach is a seaside city in Orange County, California, United States. Its population was 85,287 at the 2010 census. Newport Beach is also home to Newport Harbor.

The city's median family income and property values consistently place high in national rankings. The Daily Pilot, a newspaper published in the neighboring city of Costa Mesa but which serves the greater Newport-Mesa community, reported in 2010 that more than a quarter of households have an income greater than $200,000, and the median value for homes exceeds $1 million.

It is known as the most Republican city in California.

History

Newport Beach July 18, 2014

The Upper Bay of Newport is a canyon, which was carved by a stream in the Pleistocene period. The lower bay of Newport was formed much later by sand that was brought along by ocean currents, which constructed the offshore beach that is now recognized as the Balboa Peninsula of Newport Beach. Before settlers reached the coasts of California, the Newport area and surrounding areas were very prominent Indian lands. Indian shells and relics can still be found today scattered throughout the area. Though, throughout the 1800s, settlers began to settle the area due to the availability of land. The State of California sold acre-plots of land for $1 a piece in the Newport area. Anglo-American civilization in Newport grew substantially when in 1870 a 105-ton steamer named The Vaquero, captained by Captain Samuel S. Dunnells, against warnings posted by surveyors, safely steered through the lower and upper bay of Newport where it unloaded its cargo. James Irvine, after hearing the astonishing news, quickly traveled from his home in San Francisco to the San Joaquin Ranch. Meeting in Irvine's ranch house near current day UC Irvine with his brother, Robert Irvine, and friend James McFadden, they all agreed that the newly found port should be named simply, "Newport" thus where Newport Beach gets its name.

In 1905 city development increased when Pacific Electric Railway established a southern terminus in Newport connecting the beach with downtown Los Angeles. In 1906 (with a population of 206 citizens), the scattered settlements were incorporated as the City of Newport Beach.

Settlements filled in on the Peninsula, West Newport, Newport Island, Balboa Island and Lido Isle. In 1923 Corona del Mar was annexed and in 2002 Newport Coast, East Santa Ana Heights and San Joaquin Hills, were annexed. In 2008, after a long battle with the city of Costa Mesa, Newport Beach annexed West Santa Ana Heights.

Newport Beach California

Geography

Dover and Pacific Coast Hwy Newport Beach, CA

Newport Beach extends in elevation from sea level to the 1161 ft (354 m.) summit of Signal Peak in the San Joaquin Hills, but the official elevation is 25 feet (8 m) above sea level at a location of 3337'0?N 11753'51?W? / ?33.61667N 117.89750W? / 33.61667; -117.89750 (33.616671, -117.897604).

The city is bordered on the west by Huntington Beach at the Santa Ana River; on the north by Costa Mesa, John Wayne Airport, the City of Irvine and UC Irvine; and on the east by Crystal Cove State Park.

According to the United States Census Bureau, the city has a total area of 53.0 square miles (137 km2). 23.8 square miles (62 km2) of it is land and 29.2 square miles (76 km2) of it (55.07%) is water.

Areas of Newport Beach include Corona del Mar, Balboa Island, Balboa Peninsula (also known as Balboa), Lido Peninsula, Newport Coast, San Joaquin Hills, and Santa Ana Heights, and West Newport.

Newport Harbor and Newport Bay

Linda Isle, Newport Beach, California

Newport Harbor is a semi-artificial harbor that was formed by dredging Newport Bay estuary during the early 1900s. Several artificial islands were built, which are now covered with private homes: Newport Island, Balboa Island, Little Balboa Island, Collins Island, Bay Island, Harbor Island, Lido Isle and Linda Isle.

The Lido Peninsula

Newport Harbor once supported maritime industries such as boatbuilding, shipbuilding, and commercial fishing, but today it is used mostly for recreation. Its shores are occupied mostly by private homes and private docks. With approximately 9,000 boats, Newport Harbor is one of the largest recreational boat harbors on the U.S. west coast. It's a popular destination for all boating activities, including sailing, fishing, rowing, canoeing, kayaking, and paddleboarding.

Commercial maritime operations today include the Catalina Flyer ferry to Catalina Island, harbor tours, sport fishing and whale watching day trips and charters, and a few small commercial fishing boats.

Newport Bay is divided by the Pacific Coast Highway bridge, which is too low for most sailboats and very large boats to pass under. North of the bridge is referred to as Upper Newport Bay, or the Back Bay. South of the bridge is commonly called Lower Newport Bay, or Newport Harbor. However the Back Bay also has harbor facilities, especially the marina and launch ramp at The Dunes.

The north end of the Newport Harbor channels around Lido Island have a number of small business centers and were at one time used by the fishing fleets as their home. On the North East side of the channel, the Lido Marina Village now provides the local port to many "Newport Party Boats" as well as small merchants and local restaurants. It also hosts the area boat show each year as well as an organic "Farmers Market" Sundays, in addition to being the port for the local Gondola Company. In 2014, the center was closed for a renovation.

In 1927 a home was built at the mouth of the entrance of Newport Harbor that came to be known as the China House of China Cove. The home was built using the traditional Chinese architecture. It was a landmark in the Newport Beach Harbor until it was demolished in the 1980s. Some of the original roof can been seen on a home located in the China Cove.

Upper Newport Bay is an estuary that was formed by a prehistoric flow of the Santa Ana River. Today it is fed by a small stream from San Diego Creek. Much of Upper Newport Bay is a protected natural area known as the Upper Newport Bay Ecological Reserve, established in 1975.

Newport Beach Back Bay

Climate

Newport Beach has a Mediterranean climate (Kppen climate classification Csb). Like many coastal cities in Los Angeles and Orange counties, Newport Beach exhibits weak temperature variation, both diurnally and seasonally, compared to inland cities even a few miles from the ocean. The Pacific Ocean greatly moderates Newport Beach's climate by warming winter temperatures and cooling summer temperatures.

Climate data for Newport Beach Harbour, California (1981-2010)
Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
Average high F (C) 63.3
(17.4)
63.1
(17.3)
62.7
(17.1)
64.4
(18)
65.8
(18.8)
67.6
(19.8)
70.9
(21.6)
72.2
(22.3)
72.0
(22.2)
69.9
(21.1)
67.3
(19.6)
63.2
(17.3)
66.9
(19.4)
Average low F (C) 49.8
(9.9)
50.7
(10.4)
52.3
(11.3)
54.6
(12.6)
58.3
(14.6)
61.2
(16.2)
64.2
(17.9)
64.9
(18.3)
63.6
(17.6)
59.7
(15.4)
53.7
(12.1)
49.3
(9.6)
56.9
(13.8)
Average precipitation inches (mm) 2.07
(52.6)
2.59
(65.8)
1.67
(42.4)
.72
(18.3)
.13
(3.3)
.07
(1.8)
.02
(0.5)
.02
(0.5)
.17
(4.3)
.38
(9.7)
.96
(24.4)
1.82
(46.2)
10.62
(269.8)
Source: National Oceanic and Atmospheric Administration

Demographics

Balboa Island, Newport Beach California. January 2013
Historical population
Census Pop. %
1910 445
1920 894 100.9%
1930 2,203 146.4%
1940 4,438 101.5%
1950 12,120 173.1%
1960 26,564 119.2%
1970 49,582 86.7%
1980 62,556 26.2%
1990 66,643 6.5%
2000 70,032 5.1%
2010 85,186 21.6%
Est. 2015 87,127 2.3%
U.S. Decennial Census

2010

The 2010 United States Census reported that Newport Beach had a population of 85,186. The population density was 3,587.5 people per square mile (1,381.7/km). The racial makeup of Newport Beach was 74,357 (87.3%) White (82.3% Non-Hispanic White), 616 (0.7%) African American, 223 (0.3%) Native American, 5,982 (7.0%) Asian, 114 (0.1%) Pacific Islander, 1,401 (1.6%) from other races, and 2,493 (2.9%) from two or more races. Hispanic or Latino of any race were 6,174 persons (7.2%).

The Census reported that 84,784 people (99.5% of the population) lived in households, 151 (0.2%) lived in non-institutionalized group quarters, and 251 (0.3%) were institutionalized.

There were 38,751 households, out of which 8,212 (21.2%) had children under the age of 18 living in them, 17,273 (44.6%) were opposite-sex married couples living together, 2,608 (6.7%) had a female householder with no husband present, 1,199 (3.1%) had a male householder with no wife present. There were 1,846 (4.8%) unmarried opposite-sex partnerships, and 233 (0.6%) same-sex married couples or partnerships. 12,838 households (33.1%) were made up of individuals and 4,412 (11.4%) had someone living alone who was 65 years of age or older. The average household size was 2.19. There were 21,080 families (54.4% of all households); the average family size was 2.81.

The population was spread out with 14,744 people (17.3%) under the age of 18, 6,659 people (7.8%) aged 18 to 24, 22,299 people (26.2%) aged 25 to 44, 25,322 people (29.7%) aged 45 to 64, and 16,162 people (19.0%) who were 65 years of age or older. The median age was 44.0 years. For every 100 females there were 97.1 males. For every 100 females age 18 and over, there were 95.5 males.

Upper Newport Bay

There were 44,193 housing units at an average density of 834.2 per square mile (322.1/km), of which 21,224 (54.8%) were owner-occupied, and 17,527 (45.2%) were occupied by renters. The homeowner vacancy rate was 1.7%; the rental vacancy rate was 7.8%. 50,511 people (59.3% of the population) lived in owner-occupied housing units and 34,273 people (40.2%) lived in rental housing units.

During 20092013, Newport Beach had a median household income of $106,333, with 7.9% of the population living below the federal poverty line.

2000

North Newport Beach

As of the census of 2000, there were 70,032 people, 33,071 households, and 16,965 families residing in the city. The population density was 4,738.8 inhabitants per square mile (1,829.5/km). There were 37,288 housing units at an average density of 2,523.1 per square mile (974.1/km). The racial makeup of the city was 92.22% White, 0.53% African American, 0.26% Native American, 4.00% Asian, 0.12% Pacific Islander, 1.13% from other races, and 1.74% from two or more races. Hispanic or Latino of any race were 4.71% of the population. There were 33,071 households out of which 18.0% had children under the age of 18 living with them, 42.5% were married couples living together, 6.1% had a female householder with no husband present, and 48.7% were non-families. 35.3% of all households were made up of individuals and 10.1% had someone living alone who was 65 years of age or older. The average household size was 2.09 and the average family size was 2.71. In the city the population was spread out with 15.7% under the age of 18, 6.5% from 18 to 24, 33.0% from 25 to 44, 27.2% from 45 to 64, and 17.6% who were 65 years of age or older. The median age was 42 years. For every 100 females there were 97.9 males. For every 100 females age 18 and over, there were 96.6 males. According to a 2008 US Census estimate, the median income for a household in the city was $95,511, while the median family income was $126,976. Males had a median income of $73,425 versus $45,409 for females. The per capita income for the city was $63,015. About 2.1% of families and 4.4% of the population were below the poverty line, including 3.0% of those under age 18 and 3.5% of those age 65 or over.

Government

Municipal government

The City of Newport Beach was incorporated on September 1, 1906 and adopted its charter on January 7, 1955. The city implements a council-manager form of government, directed by a seven-member council who reside in specific geographic districts, but are elected at-large. Council elections take place in even-numbered years, and councilmembers serve four-year terms. The mayor is chosen annually by the city council.

Until 1927, the governing body of the City was known as a Board of Trustees with a President as its head. An act of the Legislature in 1927 changed the Board to City Council with a Mayor as the head.

State and federal representation

As of January 2016, the California Secretary of State reported that Newport Beach had 53,131 registered voters, and more than half of them (28,887) are Republicans. According to a report by the Sacramento Bee, Newport Beach is the most Republican city in California.

In the California State Legislature, Newport Beach is in the 37th Senate District, represented by Republican John Moorlach, and in the 74th Assembly District, represented by Republican Matthew Harper.

In the United States House of Representatives, Newport Beach is in California's 48th congressional district, represented by Republican Dana Rohrabacher.

Economy

Housing prices in Newport Beach ranked eighth highest in the United States in a 2009 survey.

Newport Beach is home to one Fortune 500 company, insurer Pacific Life. Other companies based in Newport Beach include Acacia Research, Conexant, Galardi Group (Wienerschnitzel, The Original Hamburger Stand, and Tastee-Freez) Jazz Semiconductor, and PIMCO. Fletcher Jones Motor Cars in Newport Beach is the largest Mercedes-Benz dealership in the world. At one time Edwards Theatres had its headquarters in Newport Beach. Before its dissolution Air California was headquartered in Newport Beach. The city's largest law firm is Stradling Yocca Carlson & Rauth, with approximately 75 attorneys at its Fashion Island location. Toyota has a design center, Calty Design Research, in Newport Beach which is responsible for the exterior design of the 2nd, 5th, and 7th generation Celica, as well as some Lexus and Scion models.

Newport Beach, California

Top employers

According to the City's 2012 Comprehensive Annual Financial Report, the top employers in the city are:

# Employer # of employees
1 Hoag Memorial Hospital Presbyterian 3,987
2 PIMCO 1,103
3 Glidewell Dental 1,100
4 Pacific Life 1,013
5 Newport-Mesa Unified School District 791
6 City of Newport Beach 763
7 Resort at Pelican Hill 750
8 Jazz Semiconductor 690
9 The Island Hotel 480
10 Balboa Bay Club 463
11 Fletcher Jones Motor Cars 458
12 Newport Beach Marriott Hotel & Tennis Club 319

Tourism

Points of interest

Famous past landmarks

Attractions

Newport Harbor
Orange Coast College sailing school
Newport Beach Pier Aerial Photo

Beaches and surfing

Beachgoers have flocked to Newport Beach since the Pacific Electric Railway started bringing them in 1905.

Attractions include the city beaches from the Santa Ana River to the tip of the Balboa Peninsula, Corona del Mar State Beach, and the beaches at Crystal Cove State Park.

Newport Beach is renowned for good surfing, especially between Newport Pier and the Santa Ana River. At the tip of the Balboa Peninsula, The Wedge offers world-class bodyboarding and bodysurfing.

Newport Pier and Balboa Pier both draw fishermen and sightseers.

A boardwalk (actually a concrete path) runs 2.9 miles (4.7 km) from 36th Street in West Newport, past Newport Pier and Balboa Pier, to between E and F Streets on the Balboa Peninsula.

Harbor and boating

yacht Zapata II

Newport Harbor is the largest recreational boat harbor on the U.S. west coast, and a popular destination for all boating activities, including sailing, fishing, rowing, kayaking,and paddleboarding.

The annual Christmas Boat Parade dates back to 1908. The New York Times has called it, "One of the top ten holiday happenings in the nation".

Competitive sailing, rowing, and paddling events occur almost every weekend, and weekdays during summer. The annual Newport to Ensenada International Yacht Race is the largest sailboat race in the world.

Boating activities are organized by five private yacht clubs, along with Orange Coast College, UC Irvine, and the Sea Scouts, all of which have sailing, rowing, and water activity bases on the harbor. The Newport Aquatic Center allows open public participation in competitive rowing, canoeing, kayaking, and outrigger canoe racing. The Orange Coast College School of Sailing and Seamanship offers recreational and professional sailing and mariners' courses and certifications, including United States Coast Guard licensing.

Weekly races take place during the summer that are organized by the local yacht clubs, inside the harbor, including the Beer Can Races, from the Balboa Yacht Club

Hand-carried boats may be launched from Newport Harbor's public beaches. A launching ramp at The Dunes RV Resort and Marina provides access for trailered boats.

Harbor boat tours feature celebrity homes and other waterfront points of interest. Large charter vessels cater to weddings and other special events. Rental and charter boats of all sizes and types are available from several operators.

The Newport Harbor Nautical Museum is dedicated to the history of Newport Harbor, and the industries and people that were attracted to the waters of Newport Beach.

Nautical Clubs of Newport Beach

Balboa

On the Balboa Peninsula, the historic Balboa Pavilion and Balboa Island Ferry are the city's most famous landmarks. Adjacent to the Pavilion, the 500 passenger Catalina Flyer provides daily transportation to and from Avalon, located on Santa Catalina Island. In the same vicinity, the Balboa Fun Zone offers a ferris wheel, bungee jumping, arcade games, souvenir shops and eateries, boat rentals, and harbor tour boat rides; and is also home to the Newport Harbor Nautical Museum.

Balboa Island's village charm draws many visitors. A waterfront path around the island attracts walkers and joggers, and provides easy access from the ferry to the shops and restaurants on Marine Ave.

Outdoors and nature

Cabo San Lucas Race Start 2013
Fishing on the Newport Beach Pier

Upper Newport Bay, or the Back Bay, is ringed by Back Bay Drive and a network of trails and paths that attract bicyclists, rollerbladers, joggers, and walkers.

Bird watchers and nature lovers are drawn to the Upper Newport Bay Ecological Reserve and Peter and Mary Muth Interpretive Center; and to Crystal Cove State Park, which features tide pools at the beach, and backcountry hiking and mountain biking trails.

Camping is available at Crystal Cove State Park, and at the Newport Dunes RV Park Resort and Marina.

Whale watching is also popular, with both scheduled and charter boats leaving from Newport Harbor.

Fishing is also extremely popular in Newport Bay, off the coast of Newport, and along the Newport Bay Jetty. In the bay there are multiple locations to purchase bait for convenience. There are about 80 fishable fish located in Newport Bay. A few of the most commonly fished species are: Gray Smoothhound Shark, Leopard Shark, Round Stingray, Shovelnose Guitarfish, Pacific Staghorn Sculpin, Silvery Mullet, Top-smelt, California Halibut, Spotted Sand Bass, Yellowfin Croaker, Bat Ray, Thornback Ray, Diamond Turbot, Shiner Surfperch, Corbina, Opaleye, Pile Surfperch, and Red Shiner. Commercial fishing is also prominent in offshore Newport Beach and Newport Bay. One such sea creature commercially fished in the reefs in this area is lobster. Lobster season opens in late September

Bicycling

Newport Beach Boardwalk

The boardwalk is a natural draw for bicyclists. Beach cruiser bikes can be rented at several places on the Balboa Peninsula. Bicyclists are also drawn to Back Bay Drive and the bike paths around Upper Newport Bay; the hilly roads winding through Newport Coast and the San Joaquin Hills; and the mountain biking trails in the San Joaquin Hills and Crystal Cove State Park. Pacific Coast Highway provides access to these areas and is a major bicycle route through the region, despite being shared with heavy motor vehicle traffic.

Many neighborhoods in Newport Beach are amenable to bicycling. Locals are inclined to use bicycles for short trips, especially to get through summer beach traffic and avoid motor vehicle parking shortages.

Golf

The Pelican Hill area has two golf courses, both of which reopened in November 2007 after design enhancements were completed, as well as the construction of a new resort and clubhouse. Both courses rank among the Golf Digest America's 100 Greatest Public Golf Courses.

Culture and nightlife

Fashion Island in Newport Center

Fashion Island at Newport Center is a popular regional shopping and entertainment destination. Also at Newport Center, the Orange County Museum of Art exhibits modern and contemporary art, with emphasis on the work of Californian artists.

The Newport Theater Arts Center presents high quality live theater in a 90-seat venue with low ticket prices.

The bars and restaurants within a few blocks of Newport Pier are a regional nightlife destination. Popular destinations include Sharkeez, Malarky's Irish Pub, Woody's Wharf, Rudy's Pub and Grill, and The Newport Beach Brewing Company. Newport Beach also features numerous clubs including the popular Ten Nightclub. Many college students and young adults flock to Newport Beach on the weekends for the nightlife entertainment. Also, many musical groups come and play at these clubs and venues.

Dining in Newport Beach, like many oceanfront towns, tends to focus on seafood restaurants but there are a variety of restaurants that range in price and type of food. Some of the restaurants in Newport Beach are the 21 Oceanfront, Bayside Restaurant, Sol Grill, Gulfstream and Fleming's Prime Steak House. Some local favorite food vendors include: The Crab Cooker, Bear Flag Fish Co., and True Food Kitchen. After a night at the bars, many locals know to go to the late night eateries; Laventina's for a quick and delicious pizza or Seaside Bakery for savory croissants and donuts.

Walkable villages

The village areas of Corona del Mar and Balboa Island are ideal for walking to explore the shops and restaurants. Some other areas of interest include Balboa Village area between the ferry and the pier, and the area encompassing Newport Pier, McFadden Square, Cannery Village and Lido Village.

Farmers' markets

Newport Beach has two farmers' markets: Saturday mornings in Corona Del Mar, at the corner of Marguerite and Pacific Coast Highway; and Sunday mornings in Lido Village, where Via Oporto is closed to traffic. The farmers market at Via Oporto has great ratings and provides great food through around 15 vendors. It is also tremondously beautiful scenery with redbrick roads hidden from the constant traffic congestion of Newport.

In popular culture

The city has figured into several television shows and movies.

Education

Sister cities

Newport Beach has three sister cities, as designated by Sister Cities International:

Notable people

See also

References

  1. ^ a b c "Handbook for City of Newport Beach Boards, Commissions, and Committees". City of Newport Beach. June 2013. 
  2. ^ a b Unattributed. "About the City of Newport Beach". City of Newport Beach web site. City of Newport Beach, CA. Retrieved July 29, 2008.  A concise historical timeline compared to History of Newport Beach.
  3. ^ a b c Felton, James P. (1988). "Newport Beach Chronological Timeline". Newport Beach: The First Century, 18881988. Newport Beach Historical Society. Retrieved July 29, 2008.  (Archived by WebCite at http://www.webcitation.org/5inp5xhd9) From a portion of that work reproduced on the City's Public Library web site.
  4. ^ "City Council". City of Newport Beach. Retrieved December 17, 2014. 
  5. ^ "2010 Census U.S. Gazetteer Files Places California". United States Census Bureau. 
  6. ^ "Newport Beach". Geographic Names Information System. United States Geological Survey. Retrieved November 7, 2014. 
  7. ^ a b "Newport Beach (city) QuickFacts". United States Census Bureau. Retrieved February 25, 2015. 
  8. ^ "ZIP Code(tm) Lookup". United States Postal Service. Retrieved November 7, 2014. 
  9. ^ "Newport called richest U.S. city". Daily Pilot. February 25, 2010. Retrieved January 22, 2011. 
  10. ^ http://www.sacbee.com/site-services/databases/article2606981.html
  11. ^ Felton, James. Newport Beach 75, 19061981: A Diamond Jubilee History. 
  12. ^ Staff (May 12, 2015). "A look at the trains that built the O.C. coast". Los Angeles Times. Retrieved 12 January 2016. 
  13. ^ U.S. Geological Survey Geographic Names Information System: Signal Peak
  14. ^ "US Gazetteer files: 2010, 2000, and 1990". United States Census Bureau. 2011-02-12. Retrieved 2011-04-23. 
  15. ^ "Chart 18754". Charts.noaa.gov. Retrieved 2016-01-02. 
  16. ^ "Newport Harbor Yacht Club About Us Home". Newport Harbor Yacht Club. Retrieved June 12, 2011. 
  17. ^ "Newport Dunes Marina Newport Beach". Newportdunesmarina.com. Retrieved January 22, 2011. 
  18. ^ "Farmer Mark". Newportbeachfm.com. Retrieved 2016-01-02. 
  19. ^ "Gondola Cruises in Newport Beach, CA". Gondola Romance. Retrieved 2016-01-02. 
  20. ^ "Lido Marina Village to Undergo Restoration, Reintroduction As Appealing Shopping, Dining, Marina Destination". Visit Newport Beach. Retrieved 2016-01-02. 
  21. ^ "China House Corona Del Mar". Retrieved April 11, 2011. 
  22. ^ "Upper Newport Bay Intro". Newportbay.org. Retrieved January 22, 2011. 
  23. ^ "NOWData - NOAA Online Weather Data". NOAA. Retrieved 2016-02-06. 
  24. ^ "Annual Estimates of the Resident Population for Incorporated Places: April 1, 2010 to July 1, 2015". Retrieved July 2, 2016. 
  25. ^ "Census of Population and Housing". Census.gov. Retrieved June 4, 2015. 
  26. ^ "2010 Census Interactive Population Search: CA - Newport Beach city". U.S. Census Bureau. Retrieved July 12, 2014. 
  27. ^ a b "Newport Beach (city), California". State & County QuickFacts. United State Census Bureau. 
  28. ^ "American FactFinder". United States Census Bureau. Retrieved 2008-01-31. 
  29. ^ "Three O.C. cities rank near top in U.S. income OC Business News". Ocbiz.freedomblogging.com. August 26, 2008. Retrieved January 22, 2011. 
  30. ^ "Newport Beach Mayors". 
  31. ^ http://elections.cdn.sos.ca.gov//ror/ror-pages/politicalsub.pdf
  32. ^ http://www.sacbee.com/site-services/databases/article2606981.html
  33. ^ "Statewide Database". UC Regents. Retrieved November 29, 2014. 
  34. ^ "California's 48th Congressional District - Representatives & District Map". Civic Impulse, LLC. 
  35. ^ Lansner, Jonathan (September 25, 2009). "Newport Beach slips in Coldwell ranking of prices". The Orange County Register. p. Business 1. 
  36. ^ An Introduction to Pacific Life (PDF), Pacific Life, retrieved June 12, 2011 
  37. ^ May 10, 2000. Retrieved on February 2, 2011. "Our corporate offices are located at: 300 Newport Center Dr. Newport Beach CA. 92660."
  38. ^ [1] Archived March 12, 2012, at the Wayback Machine.
  39. ^ "EdwardsCinemas.com :: Contact Us". Web.archive.org. 2000-05-10. Archived from the original on May 10, 2000. Retrieved 2016-01-02. 
  40. ^ World Airline Directory. Flight International. March 20, 1975. p. 465. Retrieved May 24, 2009. 
  41. ^ [2] Archived March 19, 2008, at the Wayback Machine.
  42. ^ [3] Archived August 20, 2009, at the Wayback Machine.
  43. ^ [4] Archived April 2, 2015, at the Wayback Machine.
  44. ^ "Christmas Boat Parade 2010". The Newport Beach Christmas Boat Parade. Retrieved July 26, 2011. 
  45. ^ "Newport Ocean Sailing Association home to the Newport to Ensenada International Yacht Race, Argosy Races and 14 Mile Bank Race". Nosa.org. April 23, 1948. Retrieved January 22, 2011. 
  46. ^ a b "Welcome Aboard!". www.occsailing.com. Retrieved January 22, 2011. 
  47. ^ "UCI Campus Recreation". Campusrec.uci.edu. Retrieved January 22, 2011. 
  48. ^ "Newport Sea Base | Boy Scouts of America". Ocbsa.org. June 30, 2010. Retrieved January 22, 2011. 
  49. ^ "Home". Newportaquaticcenter.com. Retrieved January 22, 2011. 
  50. ^ "Newport Harbor Nautical Museum". Nhnm.org. October 19, 2010. Retrieved January 22, 2011. 
  51. ^ "Newport Harbor Nautical Museum". Orange County with Anaheim Sights. Fodor's Travel, a division of Random House. Retrieved July 18, 2009. 
  52. ^ "Pelican Hill". Pelicanhillatnewportcoast.com. May 25, 2010. Retrieved January 22, 2011. 
  53. ^ "Orange County Museum of Art: About Us". Orange County Museum of Art. Retrieved June 12, 2011. 
  54. ^ "Orange County Museum of Art (OCMA) Newport Beach CA Organization Directory Organization Detail". Arts Orange County. Retrieved June 12, 2011. 
  55. ^ "NTAC Home Page". Ntaconline.com. Retrieved January 22, 2011. 
  56. ^ "Newport Beach Dining". Retrieved December 7, 2012. 
  57. ^ "Yelp". Retrieved December 7, 2012. 
  58. ^ "Cleopatra (1917)". IMDb.com. Retrieved 2016-01-02. 
  59. ^ a b c "Newport Beach Sister City". Newport Beach Sister City. Retrieved January 22, 2011. 

External links

Archival collections

 

 

How do you become famous? Helping people! Changing their lives and making a difference in their lives.
Loving them... Eric Brenn

COMMERCIAL REAL ESTATE LOANS CALIFORNIA.COM

 
 
COMMERCIAL REAL ESTATE LOANS NEWPORT BEACH CA, (949) 354-2485 NEWPORT BEACH CA COMMERCIAL REAL ESTATE LOANS, COMMERCIAL REAL ESTATE LOANS IN NEWPORT BEACH CA, commercial real estate financing, Shopping Center Loans, Apartment Complex Loans, Factory Loans, Industrial Loans, Office Building Loans, Warehouse Loans, Industrial Building Loans, Mixed=Use Loans, Single Use Loans, Owner Occupied Loans, Medical Building Loans, Commercial Real Estate Purchase, Commercial Real Estate Refinance, 1031 Exchanges, Business Acquisions Loans, Business Expansion Loans, Equipment Loans, Lines Of Creding, Long Term Working Capital, Debt Refinancing, commercial real estate, Commercial Mortgage California, California Commercial Real Estate,Commercial,Associates,commercial real estate,commercial real estate sales, commercial leasing, property management,commercial land,commercial real estate agents,commercial real estate realtors,cre agents,cre, Orange County CA, Los Angeles, San Diejo, Riverside, Inland Empire, San Francisco, San Jose, Santa Clara, Long Beach, Anaheim


COMMERCIAL MORTGAGE NEWPORT BEACH CA, COMMERCIAL REAL ESTATE LOANS IN NEWPORT BEACH CA

COMMERCIAL REAL ESTATE LOANS NEWPORT BEACH CA