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

Broadmark logo

Seattle, WA

Broadmark logo

September 2022

Broadmark logo

$2,306,850

Contact Information

Thatcher Milholland, Washington

Douglas Swafford, Oregon & SW Washington

Mike Incrocci, Western Region

Bryan Graf, Western Region

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