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Broadmark Realty Capital (BRMK) is unique due to its lack of debt. However, they also are unique for their high-yield (and high-risk) assets. Those assets performed very well during the economic expansion and should generally continue to perform so long as we don’t enter a recession.
Investors who choose to evaluate the REIT will want to consider a combination of tangible book value plus their expectations for future cash flows from managing non-traded REITs. No one knows the future of non-traded REITs, so no precise value can be assigned. The company’s balance