Horizontal + Vertical Capital

Suburban Infill Development

Project Description

Broadmark (NYSE: BRMK) provided IMH Companies (https://imhcompanies.com/) with horizontal and vertical investment capital of approximately $8.1M to construct the first 13 single-family homes in Phase 1 of the Rushton Project in the Canton Ridge subdivision in Saratoga Springs, UT. Phase 1 will include a total of 71 single-family lots. The project is part of a master-planned community with adjacent builders, including Richmond American Homes and Symphony Homes. IMH will develop detached single-family homes averaging 2,600 square feet of living space with 3-car garages and unfinished basements.

Loan Details

Broadmark logo

Saratoga, UT

Broadmark logo

August 2022

Broadmark logo

$8,067,500

Contact Information

Matt Hittson

Matt Hittson, Central Region

Tom Gunnison

Tom Gunnison, Central Region

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