Broadmark Realty Shows Strong Liquidity

Seattle based Broadmark Realty Capital Inc., an internally managed commercial mortgage real estate investment trust focused primarily on short-term real-estate-backed senior loans, announced its operating results. The company ended the quarter with substantial cash on hand and no debt outstanding, enabling it to serve our borrowers’ near-term funding needs while also positioning to take advantage of opportunities to grow our market share as other credit-dependent lenders pull back. “Certainly, there will be disruptions resulting from COVID-19, including slowing construction activity but the company will continue to originate new loans, and we are confident in the long-term prospects for construction lending and the need for additional housing. Our first quarter results demonstrate the strength of our operational model and balance sheet. Our originations were in excess of $100 million. We also launched our private REIT, which is actively raising capital to fund participations in our loan originations,” said Jeff Pyatt, President and Chief Executive Officer of Broadmark.