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.