IRVINE, CA—Opus Bank has formed a commercial real estate capital markets division, which will provide investor clients with greater access to long-term fixed-rate debt financing by leveraging Opus’ access to the capital markets.
The bank says the new division will augment its existing portfolio lending capabilities. Opus also announced that Nik Chillar has joined as managing director and Jeff Truong has joined as director of the new commercial real estate capital markets division.
“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,” Stephen Gordon, founding chairman, CEO, and president of Opus, said. “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 added, “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.”
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, 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. Chillar holds Bachelor’s degrees in Economics and Biological Sciences from the University of California, Irvine.
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, he 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, Truong served as VP 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.
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.