Los Angeles-based investment firm Alta West Partners has secured a three-year bridge loan of 49.8 million dollars for a research and office complex in Thousand Oaks, Southern California. The floating-rate loan was provided by Forbright Bank. Following a two-year repositioning phase, the property has now reached a stabilised income profile.
Alta West Partners acquired the property in September 2024. At the time of acquisition, occupancy stood at just 50 per cent. Through targeted capital expenditure to enhance building quality and intensive leasing efforts, the owner succeeded in bringing the asset to full occupancy. According to the advisory brokerage firm JLL Capital Markets, this value-add process drove an increase in net operating income of more than 170 per cent.
Technical infrastructure and tenant roster in Ventura County
Known as the Lakeview Innovation Center, the campus encompasses around 275,000 square feet of lettable space across a 22-acre site in Ventura County. The Class A asset combines laboratory, office, and development space under one roof. To accommodate research-intensive and logistics requirements, the building features loading docks and an electrical capacity of 20,000 amperes.
- —Semiconductor manufacturer Marvell as a notable tech anchor tenant
- —Laboratory Corporation of America with specialised laboratory and diagnostics facilities
- —Rawlings Sporting Goods and financial services provider Anchor Loans occupying office space
- —Complementary amenities including an Equinox fitness centre, an on-site café, and a pickleball court
Alongside its technical specifications, the campus features a two-storey atrium and 24-hour security. This blend of workspace and amenities played a central role in securing long-term commitments from established corporate tenants.
Financing arranged by JLL Capital Markets
The financing was structured by JLL Capital Markets on behalf of the borrower. The advisory team comprised Jeff Sause, Marc Schillinger, Josh Blank, Alex Olson, Jalynn Borders, and Danny Ryan. The closing of the bridge facility highlights continuing appetite among institutional lenders for prime R&D assets underpinned by robust tenant rosters in established Californian submarkets.
