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Experienced Lenders of Commercial Loans, Construction Loans, & Land Loans
Broadmark Realty Capital offers funding for land development, heavy rehabs and vertical construction for projects such as multi-family housing, single-family housing, commercial, office, and industrial buildings. We are currently lending in 4 markets – Pacific Northwest, Mountain West, Southeast, and Mid-Atlantic.
- Highest Degree of Leverage – We loan against the completed value of your project, with no loan-to-cost requirements.
- Speed & Convenience – We can close as quickly as 5 days, and draws are wired within one to two business days after inspection approval.
- Unmatched Industry Expertise – We’ve closed approximately $2 billion in project capital over more than 1,000 loans.
- In-House Manual Underwriting – We evaluate every deal on its own merits and are faster and more flexible than many other lenders.
Property Geographic Area Details
Pacific Northwest (ID, OR, WA), Mountain West (CO, TX, UT, WY), Southeast (FL, GA, NC, SC, TN), Mid-Atlantic (DC, MD, PA, VA)
$250,000 to $50,000,000
10% to 12.5%
2% to 4.5%
6 months to 24 months
- Investment Acquisition
- Investment Refinance
- Improve Subject Property
- Value Add Project
- Development Project
- Tenant Occupied 100%
- Owner Occupied Commercial
Property Types and Loan Types
- Residential Property
- Commercial Property
- 2-4 Units Residential
- Bed and Breakfast
- Commercial Condominium
- Commercial Land
- Community Center
- Event Center
- Portfolio of Commercial Properties
- Portfolio of Residential Properties
- Senior Housing
- Single Family Residence
- Storage Facility
- Commercial Property Value Add
- Commercial Ground-Up Construction
- Residential Ground-Up Construction
Specialty Loan Types
- Land Development
- Condo Conversion
DescriptionFor land acquisition, we typically fund 50-60% of the purchase price, but we may consider going up to 65% if the property is fully entitled and shovel-ready.
Land Types Considered
- Residential Land
- Multifamily Land
- Industrial Land
- Office Land
- Retail Land
- Hospitality Land
- Special Purpose Land
- Covered Land
Will Consider Land That is NOT Entitledyes
Max LTV for Land65.00%
Max LTC for Land Acquisition60.00%
Max Loan-To-Purchase Price65.00%
Borrower Must Have Property Under Contractyes
Will Provide Proof of Funds Letteryes
Will Consider Lending on Purchase from Auctionno
Allowed Source of Borrower’s Equity
- Own Cash
- Equity in Subject Property
- Equity in Another Investment Property
- Equity in Primary Residence
- Seller Financing
- Gap Lender
Rehab Value Add Loan
Minimum Number of Value-Add Projects Completed by Borrower0
Will Provide Funds for Renovation Costsyes
Max LTC for Renovation Costs100.00%
Interest Charged for Renovation CostsEntire Amount of Total Project Costs
Typical Number of Days for Funds Draw2
Maximum After Repair Value65.00%
Development Experience Requiredno
Minimum Number of Ground-Up Construction Projects Completed by Borrower0
Max LTC for Ground-Up Construction Costs100.00%
Interest Charged for Construction CostsEntire Amount of Total Project Costs
Will Lend on Partially Completed Construction Projectsyes
Details and Requirements
Typical Closing Time (Days)5
Fastest Closing Time (Days)3
- Interest Only
- Interest Reserve
Pre Payment Penalty
Will lend to a foreign national
Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgageyes
Will Consider Collateralizing Multiple Properties in One Loanyes
Will Consider Equity Joint Venture
Borrower Entity Types Considered
- Limited Partnership
- Self-Directed IRA
- Credit Report
- Tax Returns
- Financial Statements
- Loan Application
Personal Guaranty (Recourse) RequiredAlways
Credit Check Requiredyes
Minimum Credit Score Required400
Credit Check DescriptionNo minimum credit score requirement. Credit issues and low scores are evaluated on a case by case basis.
Appraisal Required for Residential PropertyAlways Before Funding
Appraisal Required for Commercial PropertyAlways Before Funding
Broker Price Opinion (BPO) Accepted for Residential PropertyNever
Broker Price Opinion (BPO) Accepted for Commercial PropertyNever
3rd Party Attorneys and Closing fees only
3rd Party Title and Closing fees only
3rd Party Appraisal Required, payment submitted directly to 3rd party
Renovation Construction Draw Fee
3rd party inspection fee only
Fees which are charged upfront prior to loan closing
- Appraisal Fee
Fees which are paid to a third party company
- Appraisal Fee
- Title Fee
- Renovation or Construction Funds Draw Fee
Please contact us for further information regarding loan availability and rates.
We don't charge any in-house fees except for the origination fee
Designed for vertical construction of projects such as multi-family housing, single-family housing, commercial, office, and industrial buildings, our construction loans are underwritten against the completed value of your project so you have more funding flexibility. As a project-oriented lender, we make sure your project is fully funded between the loan and your equity. Unlike a traditional lender, we do not have additional deposit requirements, nor do we have strict liquidity requirements.
As specialists in construction loans, we understand the funding needs of real estate developers, builders, and contractors. Our expedited draw process—as quick as 24 to 48 hours—gives you quick access to cash. Our loans can also be structured with a pre-draw to cover land and soft costs if needed.
Land Development Loans
Our land development loans provide funding for the soft costs and entitlements required for development, such as hiring architects, engineers, and environmental and other consultants. We have a greater understanding and appreciation for land loans than many lenders. Our underwriting is based on the future completed value of the asset, allowing a greater loan-to-value than other lenders.
Bridge Financing Loans
We provide interim, or short-term, funding to cover the gap between when a construction loan comes due and long-term financing can be arranged. We base our loans on the completed value of the project, minimizing additional equity or cash requirements.
As construction loan specialists, we are particularly helpful on broken construction loans: when a loan becomes due before construction is finished. We underwrite your loan on the completed value of the project, rather than its unfinished state. Most lenders, including traditional bridge lenders, look only at the current value of the property. This means that you won’t need to bring as much cash to the table or dilute your equity to get a loan closed. In addition, our expedited draw process—as quick as 24 to 48 hours—gives you quick access to the cash your contractors need to complete the project.
Heavy Rehab / Redevelopment Loans
Designed for major improvements on multi-family units and commercial, office, hospitality, and industrial buildings, our rehab loans cover major upgrades such as tenant improvements, studs-out remodels, expansions, and redevelopment. We have lower equity requirements (including cash on hand) than traditional lenders, and again unlike traditional lenders, we base our loans on the completed value of the improved building, not its existing condition. This leaves you with more funding for the project.
As specialists in construction loans, we tailor our loan solutions to the needs of contractors, including an expedited draw process to get necessary cash when they need it.
Broadmark Realty Capital Inc. (NYSE: BRMK) offers short-term, first deed of trust loans secured by real estate to fund the acquisition, renovation, rehabilitation or development of residential or commercial properties. Broadmark Realty Capital manages and services its loan portfolio across a variety of market conditions and economic cycles. Since its inception in 2010 through June 30, 2019, Broadmark Realty Capital has originated over 1,000 loans with an aggregate face amount of approximately $2.0 billion.
Office LocationsHeadquarters - Pacific Northwest
1420 Fifth Avenue, Suite 2000, Seattle, Washington 98101
309 E Paces Ferry Road NE, Suite 400, Atlanta, Georgia 30305
1201 Seven Locks Road, Suite 360, Rockville, Maryland 20854
2000 S Colorado Blvd, Tower 1, Suite 2000, Denver, Colorado 80222
3000 Lawrence Street, Suite 235, Denver, Colorado 80205
Primary Capital Source
- Own Funds
Loan Structure for Majority of Loans
- Own Balance Sheet
Percentage of company’s lending business focused on private mortgage
Company’s Other Business Activities Besides Private Mortgage Lending
- Commercial Real Estate Investing
- Residential Real Estate Investing
- Real Estate Development
Total Number of Loans Funded to Date
Brett Kaye oversees the business development of Broadmark Realty Capital for the Mountain West Region.
Brian Dubin is Managing Director of Broadmark Realty Capital, overseeing loan origination and underwriting for the Mid-Atlantic region.
Bryan Graf is Managing Director of Broadmark Realty Capital, where he oversees loan origination and underwriting for the Pacific Northwest region. Bryan originally joined Broadmark in 2012 as head of origination and lead underwriter.
Jacob Wigle serves in a business development and origination capacity for Broadmark Realty Capital. Jacob originally joined Broadmark in 2018.
Jordan Siao is Managing Director of Broadmark Realty Capital, overseeing loan origination and underwriting for the Southeast region. Mr. Siao originally joined Broadmark in 2015 as a member of the underwriting department.
Matt Bullis serves in a business development and origination capacity for Broadmark Realty Capital.
Mike Incrocci serves in a business development and origination capacity for Broadmark Realty Capital.
Ryan Good serves in a business development and origination capacity for Broadmark Realty Capital.
Thomas J. Gunnison is Managing Director of Broadmark Realty Capital, overseeing loan origination and underwriting for the Mountain West region.
"Broadmark has financed numerous development, construction, and rehab loans for us. Their ability to close a loan quickly combined with their prompt draw funding has allowed us to make bargain purchases and take advantage of vendor and subcontractor discounts."
"Being a young developer/builder I encounter a lot of challenges. Broadmark has been a valuable business partner to have through the process of guidelines, budgeting, and management. I know that I can pick up the phone and call these guys at a drop of a hat and they will always respond and assist me with whatever I need."
"Broadmark had the confidence in me to finance my first project after the market downturn. With their help I developed, built, and sold a successful multi-home project. I will continue to use them for my lending requirements."
"I really appreciate all you did for us. Having our original construction loan mature before we were qualified for conventional financing could have cost us our business. You stepped up and helped us. I would recommend you in the future without hesitation!"
"Broadmark has become my primary source for private money loans. Their underwriting and due diligence process is fast and efficient. I know my clients will receive outstanding service when dealing with them."