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Opus Bank strengthens income property banking team

Richard Kovalcheck has joined Opus Bank as Director, Income Property Banking – San Diego Region. Kovalcheck joined Opus from Marcus & Millichap Capital Corporation and is responsible for providing debt financing solutions to, and further expanding, Opus’ Income Property Banking client base in the San Diego metropolitan market.

Ed Padilla, SVP, Head of Commercial Real Estate Banking, says: “We are excited to have Richard join Opus’ deep banking presence in San Diego as we continue to grow and further strengthen our leading Multifamily and Commercial Real Estate Banking team, which has provided approximately USD700 million of debt financing in the San Diego Region since February 2011.
“He is a highly regarded banker with a unique understanding of the region’s income property real estate market and has a very deep and broad base of relationships, including borrower clients, commercial real estate brokers, bankers, and advisors. We’ve had a mutually beneficial working relationship with Richard for some time and have greatly enjoyed doing a lot of business together over the years while he was at Marcus & Millichap. We’re thrilled the opportunity finally presented itself to work with him here at Opus.
“We look forward to Opus’ multifamily and commercial real estate investor clients benefiting from Richard’s years of local knowledge and experience, coupled with his proven tenacity and success.”
Kovalcheck says: “Over our many years in San Diego County, we’ve seen countless smaller banks and other lenders come and go, only to leave behind the important entrepreneurial real estate investors who, over numerous cycles, have continued to passionately make an economic and social difference in the San Diego region. Opus understands the responsibility of loyalty, commitment, and community, just as I very much understand the significance of my career decision to join Opus.
“While Opus is the fastest growing bank in the Western U.S. and one of the largest multifamily lenders on the West Coast, Opus has not forgotten its roots. The Bank still remains nimble, relationship-driven, and entrepreneurial, as evidenced by the Bank’s growth from its start in late 2010 to now over USD6.6 billion in total assets. Given Opus’ strength in total assets, large capital base, over USD1 billion market cap, as well as its entrepreneurial and collaborative culture, I look forward to consistently bringing to our clients the full force of the firm for many years to come.”

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