Opus Bank is pleased to announce it provided:

Title: Bridge Loan
Amount: $15,000,000
Month: January
Year: 2016

Bridge Loan

Opus Bank’s Structured Finance division provides a $15,000,000 bridge loan facility to finance the acquisition of a portfolio of 5 properties, encompassing over 113,000 square feet of industrial flex, office, and retail space, all located within the Warner Center Business Park of Los Angeles, CA

Overview of Transaction

  • The client, a repeat borrower of Opus Bank, had secured an option to acquire the portfolio of properties at a discount to market value through a trustee sale.

Significance of Transaction

  • The portfolio included single and multi-tenant buildings, one of which was 100% vacant and another that was 33% vacant.
  • The business plan called for the opportunistic selling of certain buildings while holding on to others for current income and future redevelopment.

Opus Bank's Role

  • Opus structured an acquisition loan at 80% loan-to-cost, which included $1.1 million in future advances to cover the necessary improvements and TI’s for lease-up.
  • The facility also allowed for individual building releases, providing maximum flexibility with respect to the client’s business plan.
  • The loan funded in less than 60 days in accordance with the borrower’s requested closing date.

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