News Column

Opus Bank Announces Formation of Commercial Real Estate Capital Markets Division

May 7, 2014

- Nik Chillar Joins as Managing Director, Commercial Real Estate Capital Markets

- Jeff Truong Joins as Director, Commercial Real Estate Capital Markets

IRVINE, Calif.--(BUSINESS WIRE)-- Opus Bank (“Opus”) announced today the formation of its Commercial Real Estate Capital Markets division, which will provide our commercial real estate investor clients with greater access to long-term fixed-rate debt financing by leveraging Opus’ access to the capital markets, thereby augmenting Opus’ strong organic portfolio lending capabilities. Opus Bank additionally announced today that Nik Chillar has joined Opus as Managing Director and Jeff Truong has joined as Director of Opus’ Commercial Real Estate Capital Markets division.

Stephen H. Gordon, Founding Chairman, Chief Executive Officer, and President of Opus Bank, stated, “We are excited to announce the formation of our Commercial Real Estate Capital Markets division. Opus is already one of the leading originators of multifamily and commercial real estate loans on the West Coast with very strong and experienced bankers known for consistently backing our clients as we lend for our portfolio and balance sheet.” Gordon added, “With Opus having organically originated for its portfolio $2.4 billion of loans secured by multifamily residential and commercial real estate, the new capital markets team will leverage Opus’ significant market presence, distribution, and expertise to provide our clients greater access to a more diverse range of financing options including rates, terms, and loan sizes, across a wide range of commercial real estate property types.

Dan Borland, EVP, President of Commercial Real Estate Banking stated, "Opus is very fortunate to have added the team of Nik Chillar and Jeff Truong to our real estate lending platform, which now enables Opus to lend nationwide with virtually no loan size limitation, at attractive long term fixed rates, while not using Opus’ balance sheet or capital." Borland added, “We look forward to contributing additional fee income to Opus’ earnings growth as the new division further addresses our income property investor clients’ office, retail, industrial, multifamily, medical office, hospitality, and single-family-for-rent financing needs.”

Mr. Chillar, an 18-year banking veteran, joins Opus from Union Bank, where he served since 2012 as Senior Trader and Portfolio Manager and was responsible for the firm's trading and investments in approximately $4.5 billion of CMBS and CLO assets. From 2006 to 2011, Mr. Chillar was a Principal at Belgravia Capital, where he and his team were responsible for a distressed real estate fund, which later evolved into a CMBS origination platform. From 2004 to 2006, Mr. Chillar served as Director of Capital Market Activities and Co-Head of Originations with CharterMac Mortgage Capital, now Centerline Capital Group. Earlier in his career, Mr. Chillar managed a structured finance team for Lehman Brothers’ Principal Transactions Group in the United Kingdom and Western Europe, which developed new securitized products in conjunction with Lehman Brother’s Investment banking efforts. At various points in his career, Mr. Chillar was involved in the securitization of other asset classes including SBA loans, equipment finance loans and leases, franchise finance loans, and aircraft leases. Mr. Chillar holds Bachelor’s degrees in Economics and Biological Sciences from the University of California, Irvine.

Mr. Truong, an 11-year banking veteran, joins Opus from Belgravia Capital, where he served as Director from 2013 to 2014 and was responsible for underwriting commercial real estate loans, due diligence analysis, and business development across multiple asset classes. From 2011 to 2013, Mr. Truong served as Director of Operations and Finance for Kagri Limited, a commodities trading and distribution company, and was responsible for the firm’s operations and accounting practices. From 2010 to 2011, Mr. Truong served as Vice President with Element Commodities Limited, where he led the investment team and was responsible for sourcing, negotiating, structuring, and performing due diligence on the firm’s mining and beneficiation projects worldwide. From 2007 to 2010, Mr. Truong served as Vice President with Belgravia Capital. From 2006 to 2007, Mr. Truong served as an Associate in the Fixed Income – CMBS group of Bear, Stearns & Co.Mr. Truong began his career as an Analyst with the Centerline Capital Group performing cash flow and credit analysis on multi-family loans. Mr. Truong holds a Bachelor’s degree in Economics from the University of California, Irvine.

About Opus Bank

Opus Bank is an FDIC insured California-chartered commercial bank with over $4.0 billion of total assets, $3.2 billion of total loans, and $3.0 billion in total deposits as of March 31, 2014. Opus Bank provides high-value, relationship-based banking products, services, and solutions to its clients through its Retail Bank, Commercial Bank, Merchant Bank, and Correspondent Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial business, healthcare, technology, multifamily residential, commercial real estate, and structured finance, and is an SBA preferred lender. Opus Bank is an Equal Housing Lender. Opus Bank operates 60 banking offices, including two in the Phoenix metropolitan area of Arizona, 34 in California and 24 in the Seattle/Puget Sound region of Washington. For additional information about Opus Bank, please visit our website: www.opusbank.com. To learn more about how Opus Bank is backing businesses, please visit: www.opusbank.com/spotlight.

Forward-Looking Statements

This press release contains “forward-looking statements.” These forward-looking statements include information, which is subject to change and subject to risks, uncertainties and assumptions. The forward-looking information presented in this press release is not a guarantee of future events, and actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “intend” or “expect” or variations thereon or similar terminology. All such statements speak only as of the date made, and Opus Bank undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:




Opus Bank

Mr. Stephen H. Gordon

Chairman, CEO & President

or

Mr. Jeff L. Leonard

SVP, Dir. of Corporate Strategy/Communications

949-250-9800

Source: Opus Bank


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