JLL’s Capital Markets team has arranged a $49.75 million bridge loan for Lakeview Innovation Center, an approximately 275,000-square-foot research and development and office campus in Thousand Oaks. The property is currently reported as 100% leased, and the new financing is structured as a three-year, floating-rate loan provided by Forbright Bank.
The financing was completed on behalf of Alta West, which is using the capital for Lakeview Innovation Center after executing a value-add strategy at the campus. Alta West Partners acquired the property in September 2024 when it was about 50% leased, viewing the campus as a value-add investment opportunity. Over the subsequent 24 months, the ownership group implemented its business plan and increased occupancy to full lease-up.
Lakeview Innovation Center is characterized in the transaction as a fully leased R&D and office campus, reflecting its dual role in supporting both office and research-oriented space. The ability to transition the asset from half leased to fully occupied underpins the financing strategy and provides the backdrop for the bridge loan that JLL Capital Markets arranged with Forbright Bank.
JLL’s Capital Markets Debt Advisory team represented the borrower in sourcing and structuring the bridge financing. The advisory team was led by senior managing director Jeff Sause and director Josh Blank, along with senior managing director Marc Schillinger, director Alex Olson, associate Jalynn Borders and analyst Danny Ryan. Their mandate included securing a floating-rate structure with a three-year term suitable for the sponsor’s business plan at the campus.
Commenting on the transaction, Blank described the loan execution as a reflection of the transformation achieved by Alta West at Lakeview Innovation Center. He noted that the firm identified the campus’s potential when it was only partially leased and subsequently created significant value by signing long-term leases with high-caliber tenants. According to Blank, those leases have elevated the asset’s profile and supported the case for the new bridge financing.
The transaction highlights the intersection of value-add investment strategies and capital markets execution for a fully stabilized R&D and office asset. With leasing now at 100% and a new bridge loan in place, Alta West has recapitalized the property following its two-year leasing and repositioning effort at Lakeview Innovation Center.
