Broadmark Realty Capital Inc. (NYSE: BRMK) announced the launch of Broadmark Private REIT, LLC. The goal of Broadmark Private REIT is to offer qualified purchasers the ability to participate in high-yield loans originated by Broadmark Realty Capital, Inc., through a private, non-traded fund structure, which will seek to replicate the structure of the previous Broadmark Real Estate Lending Companies. The Private REIT will raise capital each month in accordance with loan demand.
“We are pleased to announce the launch of Broadmark Private REIT. In light of current market conditions, we believe that our differentiated strategy that focuses on short-term real-estate-backed senior mortgage loans will allow us to create meaningful value as we strategically deploy the capital on our fully unlevered balance sheet. Our current pipeline is strong and we remain committed to our vigilant underwriting standards, including ensuring that our borrowers have meaningful equity in their properties and requiring personal guarantees. We believe this is a unique offering which will provide an additional source of income for Broadmark,” stated Jeff Pyatt, President and Chief Executive Officer.
View sosurce vesion on : https://www.businesswire.com/news/home/20200324005661/en
