Announced
Completed
Financials
Sources
Tags
Majority
Single Bidder
Private
Completed
financial services
Friendly
Domestic
Acquisition
United States
Mortgage Finance
Synopsis
Roc360, a real estate financing firm, completed the acquisition of Civic Financial Services' origination assets, a financial services assets, from PacWest, a financial services compamy. Financial terms were not disclosed. "In the face of market difficulties, we continue to expand and develop more products and services for real estate investors. We believe that America's housing stock is severely undersupplied, with more than 50% of homes in deferred maintenance, lacking the modern-day energy efficiencies that our clients install with each loan they take from us. We will continue to prudently expand and invest for long-term solutions to these structural problems," Arvind Raghunathan, Roc360 Founder and Chief Executive Officer.
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