Southwest, FL

$2,395,000

Single Family Residence

Residential Ground-Up Construction

09/15/2020
Transaction by
Broadmark Realty Capital Inc.
Broadmark Realty Capital closed on construction funding for 16 single-family build-to-rent units in Southwest Florida for a total loan amount of $2,395,000. Eight of the homes will be in Cape Coral, six in Port Charlotte, and the remaining two in North Port. The combined LTV for the 16 units is 64.2%. The sponsor is a repeat borrower that has partnered with Broadmark Realty Capital on 66 build-to-rent units to date. The borrower continues to work with Broadmark due to our unique understanding of underwriting single-family build-to-rent units at retail instead of rental value.