Construction Loan for build-to-rent units in Southwest Florida

construction loan in florida

Project Description

Broadmark Realty Capital closed on construction funding for 16 single-family build-to-rent units in Southwest Florida for a total loan amount of $2,395,000. Eight of the homes will be in Cape Coral, six in Port Charlotte,  and the remaining two in North Port. The combined LTV for the 16 units is 64.2%.

The sponsor is a repeat borrower that has partnered with Broadmark Realty Capital on 66 build-to-rent units to date. The borrower continues to work with Broadmark due to our unique understanding of underwriting single-family build-to-rent units at retail instead of rental value.

Loan Details

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Southwest Florida

Broadmark logo

September 2020

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$2,395,000

Contact Information

Jacob Wigle

Jacob Wigle, Northern & Central Florida

Ryan Good

Ryan Good, Southern Florida

Jordan Siao, Eastern Region

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