Hawaii’s Trinity Merger combining with Seattle’s Broadmark to form mortgage REIT

Hawaii-based Trinity Merger Corp. is merging with Seattle's Broadmark group, private real estate lenders and managers that provide construction, land and development financing, to create a mortgage real estate investment trust with an equity value of $1.5 billion.

Under the terms of the deal announced Monday, Honolulu-based Trinity Merger Corp. (Nasdaq: TMCXU) will acquire eight Broadmark entities for a total of $1.2 billion, including $1.1 billion in newly issued shares of Broadmark Realty stock…

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