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Pacific Mercantile Bank Provides $10MM to Shark Investments

June 04, 2015, 07:31 AM
Filed Under: Real Estate

Pacific Mercantile Bank has extended a $10 million line of credit to Shark Investments, LLC to help finance the company's operations. In addition to the line of credit, Shark Investments will utilize Pacific Mercantile Bank's treasury management services and demand deposit products.

Shark Investments, LLC is one of the most experienced real estate development, management, and investment companies in Southern California. With over one hundred years of generational experience, Shark Investments, LLC continues to provide services to its investors, partners and customers including acquisition, development, asset and investment management, repositioning of distressed assets, and disposition of real estate throughout Southern California. Starting in 2008, Shark Investments, LLC has acquired a large portfolio of real estate assets using proprietary databases and acquisition techniques. Shark Investments, LLC has demonstrated its acquisition and disposition model works as over 1,000 homes have been acquired at a value over $300 million resulting in excellent internal and investor returns.

"We have developed a highly efficient and productive model for the acquisition, renovation and disposition of distressed real estate assets, and we believe the market conditions in Southern California will remain conducive for generating strong returns for years to come," said Jason Viegas, Chief Executive Officer of Shark Investments, LLC. "We have a unique business model and we were impressed with Pacific Mercantile Bank's ability to understand our financial needs and structure a customized credit facility that aligns with the cash flow trends in our business."

"Shark Investments, LLC has a proven business model and consistent track record of generating exceptional returns," said Tom Vertin, President of Commercial Banking for Pacific Mercantile Bank. "We are proud to be their financial partner and support their continued success."

Pacific Mercantile Bank  provides a wide range of commercial banking services to businesses, business owners and business professionals through its combination of traditional banking offices and comprehensive, sophisticated electronic banking services.

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