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

Shark Investments has demonstrated its acquisition and disposition model works, as more than 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, CEO of Shark Investments. “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.”