Broadmark Realty Capital launches Broadmark Private REIT
Broadmark Realty Capital has launched Broadmark Private REIT, which will offer qualified purchasers the ability to participate in high-yield loans originated by Broadmark Realty Capital, through a private, nontraded fund structure replicating the structure of the previous Broadmark Real Estate Lending Cos.
The private REIT will raise capital each month in accordance with loan demand.
“We are pleased to announce the launch of Broadmark Private REIT. In light of current market conditions, we believe that our differentiated strategy that focuses on short-term real estate–backed senior mortgage loans will allow us to create meaningful value as we strategically deploy the capital on our fully unlevered balance sheet,” said Jeff Pyatt, president and CEO. “Our current pipeline is strong, and we remain committed to our vigilant underwriting standards, including ensuring