$3M for Investment Project in Heber City, UT
Project Description
Broadmark Realty Capital funded this investment loan that will be used to acquire land, and get it entitled. The borrower then plans to sell the land to a developer once the final plat has been approved. The loan was funded with a 91.1% loan-to-cost (LTC) ratio.
The land will be used for a 168-unit, master-planned development that includes two commercial pads in Heber City, Utah. Upon completion, there will be a total of 104 townhome units and 64 apartment units.
Loan Details
Heber City, Utah
April 2021
$3,103,684
Contact Information
Matt Hittson, Central Region
Tom Gunnison, Central Region
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