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Real Estate Lender Sachem Capital to Sell New Baby Bond

Hard money lender REIT Sachem Capital (SACH) has announced a new issuance of baby bonds.

The company generally makes shorter term loans (i.e. 12-36 months) for real estate, both commercial and residential. The average interest rate charged is around 12-13%.

The issue will have a maturity date in 2025 and an optional early redemption in 2022.

The company has 2 other baby bond issue currently outstanding and you can see them here.

The preliminary prospectus can be read here.

Thanks to EarlyBird for catching this one.

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