Prix Sachem Capital Corp (SCCF)

Sachem Capital Corp. is a real estate finance company, which engages in the provision of real estate investment trust services. The company is headquartered in Branford, Connecticut and currently employs 28 full-time employees. The company went IPO on 2017-02-10. The company offers short-term secured, nonbanking loans to real estate investors to fund their acquisition, renovation, development, rehabilitation, or improvement of properties. Its typical borrower is a real estate investor or developer who uses the proceeds of the loan to fund its acquisition, renovation, rehabilitation, development and/or improvement of residential or commercial properties and that are held for investment or sale. The properties securing the loans are generally classified as residential or commercial real estate and, typically, are held for resale or investment. Its loans are referred to in the real estate finance industry as hard money loans. The firm also makes opportunistic real estate purchases apart from its lending activities.