PacWest's Real-Estate Lending Business Sold to Roc360 Amid Investor Concerns.
TL;DR Summary
PacWest Bancorp has sold its real estate lending unit, Civic Financial Services, to Roc360, a real estate lending firm. The terms of the deal were not disclosed. PacWest has been struggling with unrealized losses on its holdings of bonds and loans, and some investors have grown concerned about its concentration in commercial real estate loans. The sale of Civic is part of PacWest's restructuring efforts to improve profitability and risk profile.
- Struggling PacWest Offloads Real-Estate Lending Business To Roc360: Here's Why Yahoo Finance
- PacWest Sells Real-Estate Lending Unit - WSJ The Wall Street Journal
- PacWest shares slip as debt ceiling concerns overshadow asset sale optimism Reuters.com
- PacWest's latest bid to restore investor confidence Yahoo Finance
- PacWest shares rebound following deals to sell estate loans American Banker
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