Pacific Western Bank, the wholly owned subsidiary of PacWest Bancorp, announced Tuesday it had acquired Civic Financial Services, a private money lender that caters to real estate investors.

Wedgewood, a real estate investment firm that focuses on distressed properties, was the seller of Civic. Terms of the deal were not disclosed.

Pacific Western Bank hailed the acquisition as a strategic move into specialized areas of the non-QM market. Civic typically loans money to investors who need bridge loans, financing for flips, rentals or rehab projects. It also offers multifamily loans.

“This acquisition opens the door for us details ⇒

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