Opus Bank is pleased to announce it provided:

Title: Bridge Loan
Amount: $8,755,000
Month: December
Year: 2014

Bridge Loan

Opus Bank provides $8.75 million Bridge Facility for the Purchase and Stabilization of a 3 Property Mixed-Use Portfolio in Sacramento, CA

Overview of Transaction

  • The Borrower, a Sacramento-based, full-service commercial real estate investment firm, acquired a three property portfolio (2 industrial and 1 neighborhood retail center) with good upside potential.
  • Value creation will be achieved through the renovation and lease–up stabilization of the aggregate 170,709 square foot portfolio, which was 53% occupied at acquisition.
  • The acquisition bridge loan carries a 36-month term, variable rate based on 6-Month LIBOR, and interest only payments over the entire term.

Significance of Transaction

  • Opus Bank provided structured release provisions for the individual properties, as well as separate legal parcels within the properties, in the event of a favorable offer to sell.
  • Collateral flexibility allowing for the release of a to-be-sold industrial building pending a lot line adjustment post-closing.

Opus Bank's Role

  • Opus Bank recognized the borrower’s high level of expertise creating value with underperforming assets in the Sacramento market, which allowed for the flexible financing options offered by the Bank.
  • Opus Bank was able to close the loan in 45 days.

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