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Sachem Capital Corp. (SACH) is a United States-based real estate investment trust (REIT). The company has been financing opportunistic real estate transactions in the New England area since 2010. Specializing in originating, underwriting, funding, servicing, and managing a portfolio of short-term loans, Sachem provides quick, short-term bridge capital for real estate investors, builders, or developers who need immediate funding or solutions to immediate problems.
Sachem Capital's primary objective is to grow its loan portfolio while protecting and preserving capital. The company focuses on offering creative real estate financing solutions developed exclusively for those seeking alternatives to conventional bank loans. Their hands-on managers have extensive experience in real estate acquisitions, investments, management, and development, allowing them to quickly assess complex opportunities and deliver efficient and opportunistic closing products to borrowers while ensuring profitability for shareholders.
The executive team boasts extensive experience in real estate, and this expertise enables the company to address the constant volatility and instability in today's financial markets. Since being listed on the NYSE on February 10, 2017, Sachem Capital has continued to thrive, providing attractive risk-adjusted returns to shareholders over the long term through dividends.
The majority of the company's revenue is generated from interest income from loans secured by first mortgage liens on real property located in Connecticut. These properties, typically residential or commercial, are often held for resale or investment. Each loan is secured by a first mortgage lien on real estate and is personally guaranteed by the principal(s) of the borrower. Apart from lending activities, Sachem Capital also engages in opportunistic real estate purchases.
Sachem Capital Corp. (NYSE American: SACH) reported strong second-quarter results for 2021, with a 56% increase in revenue to approximately $6.7 million, driven by higher interest income on its loan portfolio. The net income reached $2.5 million, and cash flow from operations exceeded $6.1 million. Total assets rose to $296.3 million, bolstered by liquidity from stock sales. Additionally, a new $200 million financing facility aims to enhance loan offerings. The company continues to see solid demand for its lending products.
Sachem Capital Corp. (SACH) announced a $200 million master repurchase financing facility with Churchill MRA Funding I LLC. This facility allows Sachem to sell mortgage loans, providing flexibility in managing its loan portfolio. The agreement aims to reduce capital costs and support the expansion of Sachem's lending business. Since its inception, Sachem has originated over 1,000 loans, growing its portfolio from $34 million in 2016 to $157 million by March 2021. The deal highlights Sachem's strong market position and commitment to conservative underwriting.
Sachem Capital Corp. (SACH) has declared a quarterly dividend of $0.12 per share, payable on July 30, 2021, to shareholders of record as of July 26, 2021. The announcement follows a strong first half of 2021 and a successful public offering that generated $45.4 million in net proceeds, enhancing the company’s flexibility and growth strategy. CEO John Villano indicates increased demand for their loan products, attributed to stability in their loan portfolio.
Sachem Capital Corp. (NYSE American: SACH) announced the filing of a Registration Statement for Sachem Acquisition Corp. (SAC), a special purpose acquisition company, with the SEC for an initial public offering (IPO) of up to 5,750,000 units at $10.00 each, totaling $50 million. SAC will focus on real estate sector acquisitions. Upon completion, Sachem Capital will hold a 19% stake in SAC. EF Hutton is the sole book-running manager for the offering, which includes a 45-day option to purchase an additional 750,000 units. The registration has not yet become effective.
Sachem Capital Corp. (NYSE American: SACH) has announced the partial exercise of an overallotment option for its public offering of 1,700,000 shares of 7.75% Series A Cumulative Redeemable Preferred Stock, closing on June 29, 2021. The additional purchase of 203,000 shares will generate approximately $4.9 million in net proceeds. The total net proceeds from the offering are expected to be $45.4 million, intended for working capital, primarily new real estate loans. The Series A Preferred Stock is rated 'BBB' and will begin trading on July 6, 2021.
Sachem Capital Corp. (NYSE American: SACH) has completed an underwritten public offering of 1,700,000 shares of its 7.75% Series A Cumulative Redeemable Preferred Stock, raising $42.5 million, with net proceeds anticipated to be around $40.5 million. The shares are priced at $25.00 each, and a 30-day underwriters' option for an additional 255,000 shares is available. The Series A Preferred Stock received a 'BBB' rating and is set to trade on NYSE American under symbol 'SACHPRA' starting July 6, 2021. Proceeds will primarily fund new real estate loans and potential acquisitions.
Sachem Capital Corp. (SACH) has initiated an underwritten public offering of its Series A Cumulative Redeemable Preferred Stock. The specific terms, including the number of shares and dividend rate, will be determined through negotiations. The Series A Preferred Stock, rated 'BBB' by Egan-Jones Ratings, is expected to be listed on NYSE American within 30 days after issuance. A 30-day overallotment option will also be granted to underwriters. Investors are advised to review the preliminary prospectus for comprehensive details.
Sachem Capital Corp. (SACH) reported a strong financial performance for Q1 2021, with total revenue increasing by 32.5% to approximately $5.7 million, driven by a 56% surge in interest income. Net income remained stable at approximately $2.2 million. Despite elevated operating costs linked to increased debt, the company is strategically expanding its mortgage loan portfolio beyond Connecticut. The solid loan repayment and new funding figures signal robust market demand. A quarterly dividend of $0.12 per share was declared, highlighting commitment to shareholders.
Sachem Capital Corp. (NYSE American: SACH) has appointed William C. Haydon as Chief Investment Officer and Director of Investor Relations. Mr. Haydon brings over 25 years of experience in finance and capital markets to his new role, where he will manage the company's liquid reserves and securities portfolio. CEO John Villano emphasized Haydon's knowledge in lending and asset management, anticipating his contributions will enhance investor relations and support the company's growth.
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