Broadmark Realty Capital [Acquired] | REIT Profile

Symbol: BRMK new symbol: RC
CIK: 1784797
Exchange: NASDAQ
HQ: Seattle, WA, United States
Type of REIT: Mortgage REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Mortgage
Internally Managed REIT

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About Broadmark Realty Capital [Acquired]

Broadmark Realty Capital Inc. (NYSE: BRMK) is a specialty real estate finance company, providing financing solutions generally in the $5 to $75 million range per transaction. The company provides smart, reliable, rapid solutions across the entire debt capital stack, including senior, subordinate, and participation investments with fixed and floating rate structures available. Broadmark invests in a variety of new construction and existing properties across all asset classes throughout the United States, including hotel, industrial, medical, mixed-use, office, retail, self-storage, warehouse, multifamily, senior living, student housing, condos, larger scaled single-family, townhome, and multiplex. It has the competitive advantage of being an internally managed balance sheet lender, and the company’s proactive approach delivers dedicated in-house underwriting, asset management, loan servicing, and draw administration.

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Latest REIT Press Releases

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Related Information

Material Source Description
Ready Capital Corporation Stockholders Approve Issuance of Common Stock in Merger with Broadmark Realty Capital Inc. (2023-05-30) GLOBE NEWSWIRE NEW YORK, May 30, 2023 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (“Ready Capital” or the “Company”) today announced that at the special meeting of stockholders held today, conducted by means of a virtual meeting held live over the internet, its stockholders approved the issuance of the Company’s common stock pursuant to the terms of the previously announced merger agreement with Broadmark Realty Capital Inc. (“Broadmark”). Pursuant to the merger agreement, Ready Capital will acquire Broadmark through Broadmark’s merger with and into a wholly owned subsidiary of Ready Capital (the “Merger”). The Merger is expected to close on May 31, 2023, subject to customary closing conditions. As a result of the Merger, among other things, each share of common stock of Broadmark outstanding at the effective time of the Merger will be converted into the right to receive from Ready Capital 0.47233 shares of common stock, par value $0.0001 per share, of Ready Capital (“Ready Capital Common Stock”). Cash will be paid in lieu of fractional shares of Ready Capital Common Stock that would have been received as a result of the Merger. Broadmark also announced that its stockholders have approved the Merger.

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Last updated: 2023-12-05 - v4.8