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.