Construction Loan in Florida

construction loan in Florida

Project Description

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.

Loan Details

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Port Charlotte and North Port, Florida

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February 2021

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$2,015,000

Contact Information

Jacob Wigle

Jacob Wigle, Northern & Central Florida

Ryan Good

Ryan Good, Southern Florida

Jordan Siao, Eastern Region

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