Opus Bank is pleased to announce it provided:
- Title: 3 Property Portfolio Acquisition
- Amount: $10,682,000
- Month: October
- Year: 2015
Opus Bank (“Opus”) provided financing for a repeat client who was acquiring a three property portfolio in Los Angeles. The acquisition was a Reverse 1031 Exchange and needed to fund within 35 days. Opus’ deep familiarity with the borrower and experience with reverse 1031 exchanges assisted in completing the project within the 35 day timeline.
As with any real estate acquisition, reliability and certainty of execution were extremely important to all the parties involved. The borrower chose to work with Opus because the borrower trusted that Opus would execute the deal on time with the added structure of the reverse exchange.
Opus’ Income Property Banking team was contacted and the team immediately engaged internal credit. Because Opus has experience in reverse 1031 exchanges, Opus introduced the borrower to the accommodator and quickly provided the details of the process. Every party was communicating, engaged, and informed at every turn, enabling Opus to hit the 35 day timeline.