Protected: 37 build-to-rent homes in Charlotte, North Carolina
Project Description
Broadmark Realty Capital closed on construction financing for 37 single-family build-to-rent units located in 9 different cities in the Charlotte, North Carolina area. The combined loan-to-value (LTV) for the 37 units was 65%. The loan closed within 30 days of Broadmark receiving the full underwriting package and features a 90.6% loan-to-cost (LTC). To date, the borrower has partnered with Broadmark Reality on 63 build-to-rent units located in Charlotte and 100 build-to-rent units located in southwest Florida.
Loan Details
Charlotte, North Carolina
March 2021
$7,200,000
Contact Information
Jordan Siao, Eastern Region
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