Owens Realty Mortgage
Opus Bank’s Structured Finance division provides $20,000,000 revolving lender finance facility to Owens Realty Mortgage, Inc.
Overview of Transaction
- Owens Realty Mortgage, Inc. (“Owens”) (NYSE: ORM), a real estate finance company that invests in and manages middle-market commercial real estate mortgage loans, was seeking a revolving line of credit to support the expansion of their business.
- Opus Bank (“Opus”) provided a credit facility that offered a 2-year, variable rate term, and was secured by certain real estate and real estate note assets of the client.
Significance of Transaction
- The facility provided Owens with the capital resources needed to accelerate its commercial mortgage lending activities.
- The facility enabled the client to leverage its equity, expand its capacity, and grow its business.
Opus Bank's Role
- Opus worked with the client to provide a flexible loan structure that allowed multiple types of collateral, including commercial real estate assets owned and future commercial real estate notes made by Owens.
- Opus provided a non-recourse structure in addition to an intercreditor agreement with an existing lender.