Optimus Properties, LLC Completes Purchase and Disposition of its First Distressed Note

LOS ANGELES, May 20, 2021 /PRNewswire/ -- Optimus Properties, LLC is pleased to announce that is has completed the purchase, and subsequent disposition of its first distressed note backed by real estate.  The non-performing note was secured by a premier retail property located in the heart of Beverly Hills, and was purchased from a local bank who had approached Optimus due to their reputation and extensive portfolio throughout the area. While the initial trigger for the default was not pandemic related, the lender held onto the non-performing note for a substantial period of time prior to selling to Optimus in March of 2021. Optimus held the note for roughly two months before it was paid off in full and disposed of in May. It is believed that the new owner intends to occupy the property.

"Optimus has put together a dynamic team, is well capitalized, and has the ability to close quickly - which allows us to aggressively pursue opportunities as they arise. We are currently negotiating the purchase of a second distressed note and are actively seeking further opportunities to expand this area of our portfolio," said K. Joseph Shabani, Principal at Optimus Properties, LLC.

The company has been very active throughout the pandemic. In addition to new acquisitions, the firm also recently refinanced a portfolio of five properties with proceeds of 20.4M. Notably, Optimus has also built out a reliable financing and lending platform. The company offers flexible financing solutions in California on commercial, industrial, office, multi-family, and entitled land.

About Optimus Properties, LLC

Optimus Properties, LLC is headquartered in Los Angeles, California, and is engaged in the acquisition, development, leasing, and management of multi-family, retail, and commercial real estate. The Company employs a disciplined investment approach focused on value creation and capital preservation.  The Company's investments are characterized by direct principal involvement and a meaningful contribution of its principals' capital. The Company's current portfolio consists of retail, office, medical office, and multi-family properties in California, Washington, and New Mexico.

SOURCE Optimus Properties, LLC