Construction Loan in Florida
Broadmark Realty Capital closed on construction funding for 13 single-family build-to-rent units in Port Charlotte and North Port, Florida, across two loans totaling $2 million. The combined loan-to-cost (LTC) ratio for this loan was 88.8%, which ultimately minimized the amount of borrower equity needed to close the loan.
The sponsor has worked with Broadmark on 122 build-to-rent units to date.
Port Charlotte and North Port, Florida
Jacob Wigle, Northern & Central Florida
Ryan Good, Southern Florida
Jordan Siao, Eastern Region
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