The Pyatt Broadmark Real Estate Lending Fund I (“PBRELF I” or the “Fund”) is an unleveraged, no-load, evergreen fund that writes short-term, first position loans secured by real estate in the Pacific Northwest. The goal of the Fund is to provide investors with a high-yield debt instrument while minimizing the risk of principal loss and maintaining near-term liquidity.
PBRELF I has maintained consistent monthly returns since inception due to management’s focus on steady and cautious growth. PBRELF I invests in short-term, first lien notes issued against real estate projects in the Pacific Northwest (Washington, Oregon, Idaho) with Seattle as the core market.
- Fund acts like a ‘bank’ for builders and developers; writes first position, unleveraged loans only against highly marketable properties.
- Over $112M in assets under management, diversified across a portfolio of 130 separate loans.
- Relentless commitment to transparency including annual audits, monthly reporting, references and on-site loan file review.
- Almost five year audited track record of consistent monthly returns in excess of 11% annualized since inception.
- Loan to value ratios (LTV) no greater than 65%. Current portfolio has weighted LTV of 58%. We believe actual LTV to be lower due to payoffs received prior to loans coming due.