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.