PACT Capital is now open at 970 W. Alluvial Ave. Ste. 115 in the Palm Bluffs Business park in Fresno.
Written by Breanna Hardy
A Los Angeles real estate lender has added a Fresno office just after founding and opening its headquarters this year.
The business partners do so as a banker and a lawyer. Adam Mortanian and Tyler Shegarian, both managing partners, come from banking and real estate law backgrounds, respectively.
PACT Capital is a real estate capital advisory, investment management and private lending firm. It raises investor capital and lends it out on a short-term bridge basis, primarily for agriculture and commercial use. They both saw an opportunity in the Fresno market for high-caliber lending, and the growth has been faster than they had imagined.
“At PACT Capital we serve clients as true capital partners and investment advisors, helping farmers, real estate owners, business owners, and investors achieve their real estate goals. It made sense to establish an office in the heart of the Central California to better service our growing client base here,” said Tyler Shegerian, managing partner.
The entrance into the Fresno market was because of the firm’s low-cost bridge lending, Mortanian said. The two business partners started to receive frequent agriculture requests, eventually leading to the expansion of PACT Capital. They also found a prime opportunity in the commercial market — commercial building, retail shopping centers and apartment sales.
“What we found, and through being a banker in Beverly Hills, which is what my background was, coupled with Tyler’s experience, we decided to create an investment model. Instead of one person making one investment, they invest in our company and we make multiple investments and pay them a return on investment,” Mortanian said, calling it a private mortgage debt fund.
Historically, Fresno was restricted to the number of lenders or the types of lenders that came to town. But through Mortanian and Shegarian’s contacts in the Los Angeles metropolitan area, they are opening up to other lenders who have never come to the Fresno market.
Fresno has been considered a flyover city for years, and the business partners hope to contribute to its rapidly growing market. Work-from-home life has provided a means for the Fresno market to grow as people out of the area move here for more affordable housing, Mortanian said.
“Lenders in Los Angeles are fighting over deals because there are so many people trying to get the same thing. Well what we’ve been able to do is turn on the light switch and say, ‘Hey guys! We’re still in the fifth-largest economy in the world and we’re in the fifth-largest city. We’ve got a plethora of opportunity here that we’d love to show you,’” Mortanian said.
PACT Capital provides capital market services for multifamily, commercial and agriculture. It’s located at 970 W. Alluvial Ave. Ste. 115 in the Palm Bluffs Business park.
“The amount of activity in the Central Valley market is unprecedented and has presented an opportunity to grow our footprint faster than anticipated. We have found there is great demand for delivering trusted, institutional capital advisory and private lending to a market which has been historically underserved. It is even more special to us because Fresno is our hometown,” said Mortanian.
The firm also manages a private mortgage debt fund focused on short-term bridge lending, secured by agricultural and commercial properties.
In the future, Shegarian and Mortanian hope to open more locations throughout California, and possibly out of the state.