Trinity Merger completed $1.2bn merger with Broadmark.

Trinity Merger, a special purpose acquisition company, and the Broadmark, a real estate lending companies and management companies, specialty commercial real estate finance companies providing construction, land and development financing for commercial and residential properties, completed a $1.2bn merger. Under the terms of the merger agreement, Trinity will acquire Broadmark for $1.2bn in total consideration, comprised of 92%, or $1.1bn, in Broadmark Realty stock and 8%, or $98m, in cash. “Combining with Trinity allows us to create a formidable platform with access to substantial capital in the public markets, which will position the combined entity to leverage significant growth opportunities to rapidly scale our real estate lending business. Moreover, we expect to continue to work with our longstanding and growing network of real estate investors in the private real estate lending markets through the formation of one or more private REITs following the closing of the transaction, which will be organized and externally managed by a subsidiary of Broadmark Realty,” Jeffrey B. Pyatt, Broadmark Management President.