Opus Bank is pleased to announce it provided:

Title: Broadway Investment Group, LLC
Amount: $7,240,000
Month: November
Year: 2017

Broadway Investment Group, LLC

Opus Bank’s Commercial Banking division provides a $7.2 Million Commercial Real Estate Loan to Broadway Investment Group, LLC to acquire HQ property

Overview of Transaction

  • Broadway Investment Group, LLC (“Broadway”) is a newly formed real estate holding company.
  • Veros Credit, LLC and Veros Real Estate Solutions, LLC are headquartered in the building purchased by Broadway:
    • Veros Credit, LLC is a non-prime auto lender.
    • Veros Real Estate Solutions, LLC provides software-as-a-service for real estate collateral risk management.

Significance of Transaction

  • Opus Bank’s (“Opus”) facility provided funding for Broadway to purchase the property in which the Veros entities are headquartered.
  • The transaction resulted in significant cash flow savings for the Veros entities when compared to rental expenses at the same property.

Opus Bank's Role

  • Opus worked efficiently with Broadway’s management team to determine the best financing structure that accommodated the Veros entities’ unique business models.
  • The nimble structure, as well as quick and flexible responses, provided critical support for Broadway to successfully close the property purchase transaction.

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