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March 11, 2021

Broadmark supplies $21M for Tacoma units

For the planned 131-unit Flats at Wright Park in Tacoma's Stadium District, Broadmark Realty Capital announced the recent provision of a $21.5 million construction loan. Barcelo Homes is the developer and builder for the six-story project, which it acquired last year with all necessary permits for $3.5 million. Christopher Jones Architects designed the project, which Barcelo will build. Broadmark's Jeff Pyatt said of the Tacoma loan, plus two others in Tennessee and Colorado, “As demand for high-quality housing continues to outpace supply across the nation, our proven business model has enabled us to keep offering creative financing solutions to a variety of sponsors.” All three multifamily loans were worth over $53 million.




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