PacWest Sells Real-Estate Lending Unit

The Wall Street Journal covered Roc360’s latest acquisition of Civic Financial Services.

Roc360, a real-estate lending arm, will buy the bank’s Civic Financial Services unit, which specializes in lending money to landlords and investors who buy homes to fix them up for resale.

“We view this as an opportunity to acquire prized brands and assets being sold at a discount due to the current market dislocation,” Maksim Stavinsky said. “It is also an opportunity to continue to consolidate a highly fragmented space, which should help pricing power.”

Read the full story here: WSJ Article

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