SAN JOSE, Calif., Dec. 20 /PRNewswire/ -- ST. JOHN'S CAPITAL GROUP, the premier financier of undervalued real-estate, announced today that it has received a $1MM credit facility from Bridge Bank (NASDAQ:BBNK). This is following the series A equity financing St. John's Capital received in April from Ligenh Ventures and other Asian investors. The company plans to grow its business by acquiring high yield (cap 8.5 or above) income producing properties, in stable markets least affected by the current turmoil, and continues to locate and fund real-estate operating startup companies.
Edwin Yeh, CEO of ST. JOHN'S CAPITAL GROUP, commented: "We are excited to take this first step to work with Bridge Bank, which is one of the most business-focused banks we have met in Silicon Valley. Both of our firms are unusual in the sense of being innovative and having the foresight to avoid being exposed to the current market turmoil and, in fact, are well positioned to take advantage of the opportunity presented in today's real estate market. We hope to model after Bridge Bank's own success by focusing on core competencies, partnering/outsourcing, and being adaptable and scalable to market conditions."
"The introduction of the credit facility in our business model provides us with additional flexibility and agility. Since great deals with heavy discounts cannot be acquired in slow motion, having both a strong cash reserve and the credit facility allows St. John's Capital Group to move faster and gain additional negotiation leverage."
Dr. Allan Kramer, Chairman of Bridge Bank says: "ST. JOHN'S CAPITAL GROUP is a unique venture-backed company, where the founders are investing their own funds as well as striving to obtain greater than average returns to their investors. The founding team members have an impressive track record of acquiring under-valued assets and turning them around successfully and quickly in what are some of the most difficult real-estate situations. It appears they are well positioned to take advantage of the market opportunities."
ST. JOHN'S CAPITAL GROUP is a real estate investment firm based in San Jose, California, that provides its investors with access to investment opportunities in undervalued residential and commercial real estate, and distressed mortgages. The company consists of venture capitalists, real estate investors and investment bankers with entrepreneurial backgrounds and mindsets. St. John's Capital Group was formed in 2006 as the umbrella company of several private capital and financing companies and investment funds and have been providing its investors and shareholders with high-yield and secured returns since 2000.
BRIDGE BANK is Silicon Valley's full-service professional business bank. The bank is dedicated to meeting the financial needs of small, middle market, and emerging technology businesses. Bridge Bank provides its clients with a comprehensive package of business banking solutions delivered through experienced, professional bankers.
Source: St. John's Capital Group
