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This statistic highlights Sachem Capital’s Real Estate Owned, reported on a quarterly basis from Q4 2016 onwards.
Sachem Capital specializes in lending short-term money to investors and developers in the real estate industry. Their loans are usually used to buy and refurbish existing properties, buy and renovate vacant real estate, build new real estate, or buy and hold real estate that makes money. Sachem’s loans are backed by first mortgages on real estate.
|Period||2022 Q1||2022 Q2||2022 Q3||2024 Q4||2023 Q1||YoY Growth (2023 Q1)|
|Real estate owned||6.31||5.9||5.62||5.22||6.14||-2.7%|
( All figures in USD millions, except percentages)
Real Estate Owned
Property purchased for rental or acquired through foreclosure is included on the balance sheet as real estate owned. The Company estimates fair values of real estate owned using market information such as recent sales contracts, appraisals, recent sales, assessed values, or discounted cash value models. Real estate owned by the Company is stated at cost and is tested for impairment quarterly. Funding for long-term cash needs comes from unused net proceeds from financing activities, operating cash flows, and proceeds from sales of real estate owned.
As of March 31, 2023, and March 31, 2022, real estate owned totaled $6,138,912 and $6,312,818, respectively, with no valuation allowance. The company exhibits a negative growth of 2.7% year-over-year. As of March 31, 2023, real estate owned included $813,090 of real estate held for rental and $5,325,822 of real estate held for sale.
About Sachem Capital Corporation
Sachem Capital Corp (SACH) is a publicly-traded company that provides real estate finance to investors and owners. It is an investment firm that specializes in real estate finance. They offer a range of services, including origination, underwriting, financing, servicing, and management of short-term loan portfolios. It originates, finances, and services a portfolio of first mortgage loans secured by real property located predominantly in the Northeast United States and in Florida. The company provides loans to investors and owners for the acquisition, renovation, and development of residential and commercial properties. Sachem has a long history of profitability and consistently pays dividends to its stockholders.
Founded in 2010, Sachem Capital Corp is a fine-tuned company that is well-managed and has a solid financial position. Sachem Capital has assets under management of $1.1 billion as of Dec. 31, 2022. Sachem Capital primarily operates as a hard money lender, focusing on providing loans to real estate investors and developers who may not qualify for traditional bank financing. The company is based in Branford, Connecticut. It is a publicly-traded company and its stock is listed on the New York Stock Exchange under the ticker symbol “SACH”.
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