Alexandria, VA

$1,215,000

Single Family Residence

Residential Ground-Up Construction

02/13/2020
Transaction by
Broadmark Realty Capital Inc.
The borrower for this single family home project sought financing to purchase a vacant half-acre lot in a desirable neighborhood in Alexandria, Virginia. They turned to Broadmark Realty Capital due to our expedited processing, underwriting and closing times. We were able to have the financing for this project closed in approximately three weeks (total time from LOI to close). The borrower had multiple projects in different stages of development and needed a lender who would create a loan structure allowing them to bring a lower amount of equity to close. Management worked with the borrowers to use the equity in a completed and rented investment property to close the transaction with less than 10% of the funded loan amount.