Broadmark Realty Capital Inc.
BRMK-WT
New York Stock Exchange Arca0.01
USD
+0.01
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Broadmark Realty Capital Inc.
BRMK-WT
(New York Stock Exchange Arca)
Recent
price
0.01
P/E
ratio
- -
div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Broadmark Realty Capital Inc. Broadmark Realty Capital Inc. (BRMK-WT) operates as an internally managed commercial real estate finance company and real estate investment trust (REIT) that specializes in originating, underwriting, funding, servicing, and managing a portfolio of short-term, first deed of trust loans secured by residential and commercial real properties in the United States. The company provides financing for the acquisition, renovation, rehabilitation, construction, development, and investment in a diversified range of asset classes, including multifamily properties, single-family homes, townhomes, condos, hotels, industrial facilities, medical offices, mixed-use developments, retail centers, self-storage units, warehouses, senior living communities, and student housing; it targets real estate investors, developers, and builders primarily in regions such as the Pacific Northwest, Mountain West, and Southeast United States. Founded in 2010 and headquartered in Seattle, Washington, Broadmark Realty Capital historically generated revenue through interest income on its loan portfolio while distributing at least 90% of taxable income to shareholders to maintain REIT status and avoid corporate-level federal income taxes. In May 2023, Ready Capital Corporation completed its acquisition of Broadmark Realty Capital pursuant to a merger agreement announced in February 2023, under which Broadmark became a wholly owned subsidiary of Ready Capital, creating one of the largest commercial mortgage REITs with a combined capital base exceeding $2.8 billion; the transaction expanded Ready Capital's platform by integrating Broadmark's residential and commercial construction lending capabilities, increased its board by three directors from Broadmark, and adjusted outstanding warrants—including those traded as BRMK-WT—to entitle holders to Ready Capital common stock upon exercise, subject to an exchange ratio of 0.47233 and modified purchase pricing. Post-merger, BRMK-WT warrants remain outstanding as adjusted securities tied to the legacy Broadmark structure within Ready Capital, amid ongoing class action litigation alleging misleading disclosures in the merger proxy statement regarding Ready Capital's borrower distress, market oversupply issues, and credit loss reserves as of July 2025.