Opus Bank is pleased to announce it provided:

Title: Bridge Facility
Amount: $8,500,000
Month: December
Year: 2014

Bridge Facility

Opus Bank’s Structured Finance division provides $8,500,000 to finance the acquisition and stabilization of a 73,000 sq. ft. industrial business park in Thousand Oaks, CA

Overview of Transaction

  • The Tenant-in-Common Borrower purchased the property at an opportunistic acquisition price as it was losing a major tenant (20% of NRSF).
  • The borrower desired financing that could accommodate anticipated tenant improvements and leasing commissions, in addition to a modest rehabilitation of the property.

Significance of Transaction

  • Given the property’s upcoming tenant rollover, the borrower needed a lender who could provide a loan that assisted in unlocking new income and value through a bridge facility, which allowed for flexibility and ability to prepay.

Opus Bank's Role

  • Opus Bank (“Opus”) recognized the borrower’s real estate experience, and provided a financing structure that incorporated planned tenant improvements and leasing commissions as new leases were signed.
  • Opus closed the loan in 35 business days.

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