Participate in a portfolio of unlevered real estate loans
Broadmark Private REIT will participate in and may originate short-term, first deed of trust loans secured by real estate to fund the acquisition, renovation, rehabilitation or development of residential, multi-family and commercial properties in high-growth markets.
The loans Broadmark Private REIT participates in through Broadmark Realty Capital require personal guarantees and have a maximum loan-to-value ratio of 65%, ensuring that borrowers have meaningful equity in their properties.
Loans range from $250,000 to $50 million, typically bear interest at a fixed annual rate of 10% to 13%, have initial terms ranging from 6 to 18 months, and are made to real estate investors, developers and other commercial borrowers.
Broadmark Realty Capital targets borrowers in markets with favorable demographic trends and non-judicial foreclosure laws including Washington, Oregon, Idaho, Colorado, Utah, Wyoming, Texas, Georgia, Tennessee, North Carolina, South Carolina, Florida, Maryland, Virginia, Pennsylvania, and Washington, D.C.
Broadmark Realty Capital’s rigorous and responsive underwriting process has resulted in minimal losses since its inception in 2010.