Cashing in on ADUs in Seattle

Upside of Opportunistic Capital

Project Description

Broadmark Realty Capital (NYSE: BRMK) invested $2.3M in vertical construction capital with returning borrower who is a well-known, experienced, award-winning builder in the Seattle area. Broadmark provided a fixed rate and locked 90 days prior to closing. The capital will be used to construct two single-family residences with three auxiliary dwelling units. The borrower has demonstrated their ability to successfully build this type of asset in the past in Seattle. The units will comprise a large 3-bedroom, 1,870-SF SFR, and it’s (2) adjoining 2-bedroom ADUs will be accessible through an alley. Another 2-bedroom SFR and its adjoining 2-bedroom ADU. Units will be marketed at core market prices in this active and walkable Seattle neighborhood and benefit from their proximity to the light rail.

Loan Details

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Seattle, WA

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September 2022

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Contact Information

Thatcher Milholland, Washington

Douglas Swafford, Oregon & SW Washington

Mike Incrocci, Western Region

Bryan Graf, (NMLS ID 1438299), Western Region

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