A loan package for the Patriot Commerce Center valued at approximately $60 million closed recently. The package provides construction and mezzanine financing for a 20-acre, class "A" industrial and office park located off the 23 and 118 freeways in Moorpark.

The project has been more than four years in the making.

"While this loan package would be notable during positive economic times, the fact that these loans were completed in the current financial climate is a testament to the strength of this development," said Mike Tingus, president of Lee & Associates- LA North/ Ventura Inc., who, along with Lee & Associates' Grant Fulkerson and Scott Linklater, is the exclusive broker for the project.

Pacific National Bank and Hillwood provided construction and mezzanine financing for the 306,000-square-foot business park to allow developer M.W. Ossola & Associates Inc. to move forward with construction.

Holliday, Fenoglio Fowler LP acted as mortgage broker on the transaction.

As part of the transaction, the ownership of the overall project has been restructured. M.W. Ossola & Associates retains full control of campus.

Mark Ossola, president of M.W. Ossola & Associates, recently completed the $58 million Village at Moorpark shopping center.