Forbright Bank Provides $49.8M Bridge Loan for Thousand Oaks R&D Campus

Alta West Partners, a Los Angeles-based investor, has closed a three-year, floating-rate bridge loan of $49.8 million from Forbright Bank on Lakeview Innovation Center in Thousand Oaks. JLL Capital Markets announced the deal and said it represented the sponsor.

The 275,000-square-foot Class A campus sits on 22 acres in Ventura County and mixes lab, office and R&D space. Features include dock-high loading and 20,000 amps of electrical capacity. Alta West bought the property in September 2024 and, through leasing and capital improvements, reported more than 170 percent growth in net operating income, according to JLL. The asset is now fully leased.

Listed tenants include semiconductor company Marvell, Laboratory Corporation of America, Rawlings Sporting Goods and Anchor Loans. Amenities include a fitness center, a café, a two-story atrium, a pickleball court and 24-hour security.

The loan shows that lenders are still willing to finance repositioned, fully leased lab and R&D assets in suburban Southern California. Owners planning similar bridge refinancings should expect floating-rate structures and strong lease-up evidence to matter.