$3.2M Build-to-Rent Homes in Florida
Project Description
Broadmark Realty Capital provided construction funding for 21 single-family build-to-rent units in Florida. Of the sites, 11 are in Cape Coral, 5 are in Port Charlotte, and 5 are in North Port. The loan closed with a combined loan-to-cost (LTC) ratio of 87% and a loan-to-value (LTV) ratio of 64.9%.
We’ve been working with this client since 2018, funding hundreds of single-family units in multiple states. They continue to work with us because we’re a reliable source of capital, are quick to fund draws, and can keep up with the number of projects they have going on simultaneously.
Loan Details
Southeast, FL
April 2021
$3,295,000
Contact Information
Jacob Wigle, Northern & Central Florida
Ryan Good, Southern Florida
Jordan Siao, Eastern Region
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