Broadmark Realty Closes $100M in Senior Unsecured Notes

Broadmark Realty Capital Inc. recently closed the private placement of $100 million aggregate principal amount of 5 percent senior unsecured notes due in 2026. The company intends to use the net proceeds from the offering to originate new investments relating to its business.

“We are excited to announce our first bond offering, which begins our strategic approach to diversifying and enhancing our capital structure to enable accelerated growth of our business,” says David Schneider, Broadmark chief financial officer. “By quickly deploying these attractively priced proceeds into new investments, we expect to continue to drive superior risk-adjusted shareholder returns with low leverage.”

Piper Sandler & Co. acted as placement agent for the offering.

The notes have not been and will not be registered under the Securities Act of 1933, amended or any state securities laws and may not be offered or sold in the United States except pursuant to an exemption from or in a transaction not subject to registration requirements of the Securities Act and applicable state securities laws.