We understand development and construction loans.  It’s 90% of what we do.  The other 10% we do short-term bridge loans.  We lend in Colorado, Texas, and Utah.  Loan size from $1MM to $28MM (and growing monthly).  Typical terms are 12 months and under for the initial term, but extensions are available, and longer terms are possible, just not common.  We lend on acquisition, development, and construction (both horizontal and vertical).  Max LTV is 65%.  No loan to cost requirement.  We lend against the completed value on construction projects.  We’ve done spec homes, subdivisions, lot development deals, apartment and townhome construction, senior living facilities, resorts, and various other unique asset types.  We underwrite in-house.  If you call us, you’ll speak directly with one of our underwriters about your project.  We’re fast, and we’re helpful.  We understand deals a lot of other lenders won’t.  We don’t charge any upfront fees, and there are no prepayment penalties.

Property Geographic Area Details
Colorado, Texas, Utah
Loan Amounts
$1,000,000 to $28,000,000
Interest Rates
12% to 12.25%
Loan Terms
3 months to 12 months
Origination Fees
2% to 5%
Lien Position
1st
Collateral Types
  • Residential Property
  • Commercial Property
Loan Purpose
  • Investment Acquisition
  • Value Add Project
  • Development Project
Property Occupancy
  • Vacant
  • Tenant Occupied 100%
  • Owner Occupied Commercial

Max Loan-to-Purchase Price

65%

Borrower Must Have Property Under Contract

yes

Will Provide Proof of Funds Letter

no

Will Consider Lending on Purchase from Auction

no

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Equity in Subject Property
  • Equity in Another Investment Property
  • Seller Financing

Inspection Fee

Inspection fee for work in place draw requests. Not required for materials orders.

Extension Fee

Extensions available, provided loan is in good standing.

Appraisal Fee

Appraisal paid for directly by borrower to appraiser. We do not collect deposits.

Fees which are paid to a third party company

  • Appraisal Fee

Details and Requirements

Typical Closing Time (Days)

5

Fastest Closing Time (Days)

2

Payment Structure
  • Interest Only
  • No Monthly Payments Required
Pre Payment Penalty

no

Will lend to a foreign national

no

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

yes

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered
  • LLC
  • Limited Partnership
  • Corporation
Documentation Required
  • Credit Report
  • Tax Returns
  • Financial Statements
Personal Guaranty (Recourse) Required
Always
Credit Check Required

yes

Minimum Credit Score Required

480

Credit Check Description

We'll take poor credit scores, as long as there's a fair explanation. For example, lots of builders were hit hard by the 2008 downturn.

Appraisal Required for Residential Property

Always

Appraisal Required for Commercial Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Never

Broker Price Opinion (BPO) Accepted for Commercial Property

Never

Legal Disclaimer

All loans are made through the Broadmark Real Estate Management lending arm, BRELF II, LLC.

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Broadmark Real Estate Management is a direct private lender with offices in Denver, Colorado and Dallas, Texas. Our firm is a valuable resource for builders and developers, who need timely funds for commercial or residential projects. At Broadmark Real Estate, we get to know our borrowers, so we can deliver a loan that meets your specific needs. We develop long-term relationships and trust with each client, which we attribute to quality communication, careful underwriting, and fair pricing. That is why so much of our business is repeat business. Our experience and personal approach enables us to respond quickly to client needs. From initial funding through a project’s completion, we work with clients to ensure the success of projects. We are your advocate throughout the process.  We’re fast, we’re fair, and we understand construction and development in Colorado, Texas, and Utah.  Loans from $1 million to $28 million.

Office Locations

Headquarters
201 Milwaukee St, Denver, Colorado 80206

Texas Office
17766 Preston Rd, Dallas, Texas 75252

Primary Capital Source
  • Debt Fund We Manage
Loan Structure for Majority of Loans
  • Own Balance Sheet
Percentage of Loans Secured by Commercial Property

50%

Percentage of Loans Secured by Residential Property

45%

Total Number of Loans Funded to Date

300

Total Loan Volume Funded to Date

$1,000,000,000

Our Team

Brett Kaye

Deal Maker

Contact Broadmark Real Estate Management

Broadmark Real Estate Management pays us to be listed, so there is no fee to connect with them directly.

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BEFORE YOU CONTACT THIS LENDER

Our Minimum Loan Amount Is

$1,000,000

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