We've been lending in Washington since 2010
Washington State is iconic for many reasons. It’s the home of the Space Needle, Starbucks, and Microsoft. Washington’s strength lies in its diverse economic base, which makes the region appealing to those looking for investment opportunities. There are also several large corporations headquartered in the state, contributing to a strong and stable job market. Since 2010, we’ve provided real estate funding on a variety of asset types, from commercial real estate loans in Tacoma, to single-family rental loans in Spokane, to multifamily loans in Lacy.
Our Washington lending team recognizes the market variations of the region and will be your advocate from day one through the completion of your project. All of our loans are backed by careful, in-house underwriting, a strong understanding of the local market, fair pricing, and the highest level of service.
Our lending commitments:
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Loan-to-value ratio: up to 65% of the after repair value
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Commitment in as little as 48 hours
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Loans from $500,000 to $50 million
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No upfront fees
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No prepayment penalties
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Funding typically within 5 days of commitment
Questions?
Call: (206) 971 – 0800 or Get in touch with a lending expert.
Designed for vertical construction of projects such as multi-family housing, single-family housing, commercial, office, and industrial buildings, our construction loans are underwritten against the completed value of your project so you have more funding flexibility.
Our land development loans provide funding for the soft costs and entitlements required for development, such as hiring architects, engineers, and environmental and other consultants.
We provide interim, or short-term, funding to cover the gap between when a construction loan comes due and long-term financing can be arranged. We base our loans on the completed value of the project, minimizing additional equity or cash requirements.
Designed for major improvements on multi-family units as well as commercial, office, hospitality, and industrial buildings, our rehab loans cover major upgrades such as tenant improvements, studs-out remodels, expansions, and redevelopment.
We offer private funding for investment projects in the following Washington counties:
Adams, Asotin, Benton, Chelan, Clallam, Clark, Columbia, Cowlitz, Douglas, Ferry, Franklin, Garfield, Grant, Grays Harbor, Island, Jefferson, King, Kitsap, Kittitas, Klickitat, Lewis, Lincoln, Mason, Okanogan, Pacific, Pend Orielle, Pierce, San Juan. Skagit, Skamania, Snohomish, Spokane, Stevens, Thurston, Wahkiakum, Walla Walla, Whatcom, Whitman, and Yakima.
Our Washington Loan Experts
Construction loans are very much a partnership. Our relationship doesn’t end the day documents get signed. Whether negotiating with a third-party lender, ensuring adequate reserves for maintenance and repairs, or addressing environmental concerns, we will be your advocate throughout the process and do everything in our power to get you the loan you need.
Mike Incrocci serves in business development and origination capacity for Broadmark Realty Capital. Before joining Broadmark in 2018, he worked in investment management and commercial development, including stints at Northwestern Mutual, The Northlake Group, Varon, INC, Linc Property Partners, UBS/Paine Webber, and Lind-Walkdock. His experience includes converting 10 buildings and 150+ units to condominiums in the Ballard, Fremont, and Greenwood neighborhoods of Seattle.
Outside of work, he is the Vice President of the Pacific Little League and a coach/volunteer with numerous youth programs. He and his wife, Emily, live in Edmonds and have three (usually) wonderful boys. He loves to cook, listen to podcasts, and spend time with his family. They spend the weekends running from one activity to the other and volunteering in their community.
Ryan Good serves in business development and origination capacity for Broadmark Realty Capital. Ryan began his career in investment management and was a co-founder of the Oregon State Investment Group. Ryan has worked in several capacities in commercial real estate in Oregon, Washington, Hawaii, and Colorado, including in multifamily investment brokerage, land acquisitions, and project management, as well as for a multi-national real estate data and analytics company.
In his spare time, Ryan enjoys the occasional embarrassing attempt at golf, camping in the Pacific Northwest, and spending time with his wife and her side of the family in Guadalajara, Mexico, where he is ever on the search for the perfect torta ahogada.
Matt Bullis serves in a business development and origination capacity for Broadmark Realty Capital. Prior to joining the team, he held multiple roles in management and entrepreneurship where he thrived working in building restoration and plan analysis.
Outside the office, Matt enjoys trying new recipes.
Doug Swafford serves in a business development and origination capacity for Broadmark Realty Capital covering Oregon and Southwest Washington. Doug has 25 years of combined work experience including roles such as title officer, lender and residential sales, land development/builders services, GIS marketing and consulting, as well as a financial planner and insurance agent.
Outside the office, Doug enjoys spending time with his wife Miriam and teenage son Liam. As a family, we enjoy outdoor activities and weekend trips. I enjoy spending time in the kitchen. I have a passion for cooking both American and Chinese food.
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Highest Degree of LeverageWe loan against the completed value of your project, with no loan-to-cost requirements. As a result, we can provide more funding for your project than a bank can and that means more flexibility for you.
Speed / ConvenienceWe can close as quickly as 5 days, and draws are wired within one to two business days after inspection approval. Banks can take months to review a typical real estate project. In that time, our clients’ projects are already underway and on the way to realizing profits.
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Unmatched Industry Expertise
We’ve closed approximately $2.8 billion in project capital over more than 1,200 loans (and counting). Our level of construction market intelligence is second to none.
In-House Manual UnderwritingWe evaluate every deal on its own merits and are faster and more flexible in the evaluation process than traditional financing such as banks. You’ll typically get feedback within the same day of your request and a term sheet within as little as 24 to 48 hours.