Proud to Support Alaska Commercial Real Estate Investors
Despite economic downturns over the last decade, today Alaska’s economy appears to be recovering. Income growth has resumed, home sales are starting to heat up, and the economy is on the upswing, bringing some great opportunities for real estate investors.
Broadmark’s Alaska lending team members are experts in the local market dynamics and will be your advocates from day one through the completion of your development project. Our construction and development loans are backed by careful, in-house underwriting, strong knowledge of lending, fair pricing, and the highest level of personal service.
Our lending commitments:
Loan-to-value ratio: up to 65% of the after repair value
Funding typically within 5 days of commitment
Commitment in as little as 48 hours
Loans from $500,000 to $50 million
No upfront fees
No prepayment penalties
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.
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 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.
Designed for major improvements on multi-family units as well as commercial, office, hospitality, and industrial buildings, our rehab loans cover major upgrades such as tenant improvements, studs-out remodels, expansions, and redevelopment.
We offer construction financing in the following Alaska counties:
Aleutians East, Aleutians West, Anchorage, Bethel, Bristol Bay, Denali, Dillingham, Fairbanks North Star, Haines, Juneau, Kenai Peninsula, Ketchikan Gateway, Kodiak Island, Lake And Peninsula, Matanuska-Susitna, Nome, North Slope, Northwest Arctic, Prince of Wales-Outer Ketchikan, Sitka, Skagway, Southeast Fairbanks, Valdez-Cordova, Wade Hampton, Wrangell, and Yakutat.
Our Alaska Loan Financing Expert
Construction loans are very much a partnership. Our relationship doesn’t end the day documents get signed. Whether negotiating with a third-party lender, ensuring adequate reserves for maintenance and repairs, or addressing environmental concerns, we will be your advocate throughout the process, and do everything in our power to get you the loan you need.
Mike Incrocci serves in a business development and origination capacity for Broadmark Realty Capital. Before joining Broadmark in 2018, he worked in investment management and commercial development, including stints at Northwestern Mutual, The Northlake Group, Varon, INC, Linc Property Partners, UBS/Paine Webber, and Lind-Waldock. His experience includes converting 10 buildings and 150+ units to condominiums in the Ballard, Fremont, and Greenwood neighborhoods of Seattle.
Mike attended Miami University, where he was a member of the International Honors Society. He is Series 6 and 63 licensed.
Outside of work, he is the Vice President of the Pacific Little League and a coach/volunteer with numerous youth programs. He and his wife, Emily, live in Edmonds and have three (usually) wonderful boys. He loves to cook, listen to podcasts, and spend time with his family. They spend the weekends running from one activity to the other and volunteering in their community.
Highest Degree of Leverage
We loan against the completed value of your project, with no loan-to-cost requirements. As a result, we can provide more funding for your project than a bank can and that means more flexibility for you.Speed / Convenience
We can close as quickly as 5 days, and draws are wired within one to two business days after inspection approval. Banks can take months to review a typical real estate project. In that time, our clients’ projects are already underway and on the way to realizing profits.
Unmatched Industry Expertise
We’ve closed approximately $2.8 billion in project capital over more than 1,200 loans (and counting). Our level of construction market intelligence is second to none.In-House Manual Underwriting
We evaluate every deal on its own merits and are faster and more flexible in the evaluation process than traditional financing such as banks. You’ll typically get feedback within the same day of your request and a term sheet within as little as 24 to 48 hours.
Let us know how we can help you complete your next project.
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!
Phone: (206) 971 – 0800
Office: 1420 Fifth Avenue,
Suite 2000, Seattle, WA 98101
(678) 902 – 4899
This is a hidden element used by the page to determine the phone number to be used in the header