JLL Arranges $49.75M Bridge Loan for Lakeview Innovation Center in Thousand Oaks
LOS ANGELES — JLL's Capital Markets group announced Oct. 20 that it has arranged $49.75 million in bridge financing for Lakeview Innovation Center, an approximately 275,000-square-foot, 100% leased R&D and office campus in Thousand Oaks, California. Forbright Bank provided the three-year, floating-rate loan to the sponsor, Alta West Partners.
JLL worked exclusively on behalf of Alta West Partners to secure the financing. The loan equates to roughly $180 per square foot of the campus.
JLL Capital Markets Debt Advisory Team
JLL's Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Jeff Sause, Director Josh Blank, Senior Managing Director Marc Schillinger and Director Alex Olson. Associate Jalynn Borders and Analyst Danny Ryan also worked on the assignment.
"This execution is the result of the amazing transformation Alta West has achieved at this asset," said Blank. "They recognized the potential and have delivered significant value creation by securing long-term deals with high-caliber tenants that raise the profile of the asset."
Alta West Partners' Value-Add Business Plan
Alta West Partners acquired Lakeview Innovation Center as a value-add investment when it was 50% leased in September 2024. Over the following 24 months, the firm executed a business plan built on targeted leasing and strategic capital improvements, according to JLL. The campus is now 100% leased and has posted more than 170% net operating income growth since acquisition, the firm said.
Alta West Partners, a Los Angeles-based commercial real estate investment and operating platform, focuses on acquiring, repositioning and managing assets in supply-constrained, well-amenitized, high-barrier-to-entry submarkets. Its specialties include office, R&D, flex and advanced manufacturing properties.
Lakeview Innovation Center: Property and Tenants
Lakeview Innovation Center is located at 112 S. Lakeview Canyon Road in Thousand Oaks. The campus sits on 22.1 acres and offers a mix of office, lab and R&D space with dock-high loading and 20,000 amps of power. Marketing materials list building dates of 1987, 2009 and 2023, and the property has 949 surface parking stalls, or about 3.5 spaces per 1,000 square feet.
On-site amenities include an Equinox Fitness center, a full-service café, a two-story central atrium with a media wall and dining areas, a pickleball court, 24-hour on-site security personnel and walking trails.
The tenant roster includes Marvell Semiconductor, Laboratory Corporation of America, Equinox Fitness, Rawlings Sporting Goods and Anchor Loans. JLL described the roster as diversified, with high-quality and investment-grade credit tenants. Offering materials from the 2024 sale showed R&D-focused companies occupying 62% of leased space.
Lender and Market Context
Forbright Bank, headquartered in Chevy Chase, Maryland, describes itself as a financial services platform spanning nationwide middle-market lending, digital consumer banking, strategic advisory and asset management services.
The financing comes as JLL reports growth in its capital markets business. The firm said its second-quarter 2026 Capital Markets Services revenue rose 19% year over year, with debt advisory among the leading contributors. JLL also reported second-quarter revenue of $6.9 billion, adjusted EBITDA of $386.3 million and adjusted diluted earnings per share of $5.26, up 59% from the prior-year quarter.
The Lakeview Innovation Center loan illustrates how a fully leased, specialized campus with lab-capable infrastructure and a documented increase in net operating income was able to secure bridge debt from a bank lender.