$8.2M Credit Union Loan on a Warner Center Office Campus

Logix Federal Credit Union has now recorded two loans on the Warnerview office property at 5959 Topanga Canyon Boulevard, and the second is smaller than the first. The credit union recorded $9,665,000 in March 2023 and followed it with a new $8,200,000 deed of trust executed May 6, 2026 and recorded May 29, written on a 61 month term due June 1, 2031. The borrower has not changed.

That borrower, Dimtam LLC, a California company formed in 2013, bought the property in May 2017 for a recorded $14,500,000; trade coverage of that sale identified the seller as Younan Properties and the buyer as Dimtam, and described the asset as the roughly 65,000 square foot, three story Class A Warnerview Corporate Center. County records tell a bigger story about the site: two buildings totaling 82,550 square feet on 1.66 acres, built in 1981. Both descriptions are reported as published. Current directory listings place tenants including a CPA firm, Linka and Associates, in suite 335, along with Allegent Group and Kotel Investments.

The debt history maps a full cycle of Warner Center office lending: Bank of America at $7,700,000 in 2003, KeyBank at $10,000,000 on a ten year term in 2004, Royal Business Bank at $11,000,000 in 2014, Wells Fargo at $8,700,000 in 2017 with a further $1,000,000 in 2018, and then the Logix era. Nine distinct lenders appear since 1991. The stepdown from $9,665,000 to $8,200,000 between 2023 and 2026 is simply what the recordings show.

Logix is a Southern California credit union whose published commercial program offers up to 70 percent financing, fixed rates up to seven years, and no prepayment penalties, on office, retail, multifamily, and light industrial in seven western states. Those are program parameters from the lender's page, not the terms of this loan. Both of its tracked closings on LoanList are in Los Angeles, one office and one industrial.

Within the tracked Los Angeles record this loan ranks 52nd of 58, and the contrast at the top of that list is the story: the county's tracked office lending concentrates in $27,000,000 to $45,000,000 Beverly Hills and Santa Monica deals from Northwestern Mutual and Wells Fargo. Suburban Valley office is trading and refinancing at a different scale, with different lenders.

For owners of San Fernando Valley office buildings, the takeaway is where the liquidity actually is. While institutional lenders cluster on the Westside, a credit union has now written consecutive eight figure loans on a Warner Center campus, on published terms any borrower can read. Owners refinancing suburban office should have depositories, not just banks, on the call list.