Opus Bank is pleased to announce it provided:

Title: Bridge Loan
Amount: $16,777,000
Month: June
Year: 2015

Bridge Loan

Opus Bank’s Structured Finance division provides $16,770,000 to refinance a multi-tenant industrial flex property backed by institutional equity and located in Livermore, CA

Overview of Transaction

  • The property consists of five high-quality industrial flex buildings offering 208,000 square feet of rentable area. Ownership was considering purchase offers, and instead they decided to refinance.
  • The Borrower desired bridge financing that could pay off existing debt and also offer prepayment flexibility.

Significance of Transaction

  • As the property was fully leased and occupied, it was a candidate for many lending programs. However, its existing commercial mortgage-backed securities financing was coming due in less than 45 days.

Opus Bank's Role

  • Opus Bank immediately recognized the property’s positives and the Borrower’s real estate expertise, and provided a bridge loan that closed in less than 30 days from receipt of deposit.

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