Grow. Build. Create.
The philosophies that drive Broadmark Capital President Joe Schocken in business also inform his boating life.
“The entire function of an investment banker is to create,” Joe Schocken says. “Early on, I discovered my passion was enabling this creation, whether that’s a complicated financing to support a new biopharmaceutical company or a new real estate fund to assist local developers.”
That passion is what led Joe, a Sea Ray owner, to establish Seattle-based Broadmark Capital in 1987. As an investment bank, the company offers direct investment opportunities for accredited investors, as well as financing and management services to emerging and growth companies. In much the same way that a Sea Ray boat can exceed expectations for a day out on the water, Joe realized Broadmark Capital could create an overall investment experience that is greater than the sum of its parts.
Through Broadmark, Joe cofounded the Pyatt Broadmark Real Estate Lending Fund I. In the current tight credit markets, this fund enables hardworking developers to obtain the capital necessary to run their businesses. The fund is a beneficial arrangement for all parties involved: developers create jobs and realize profits for themselves, while the fund provides its investors with an attractive rate of return, historically greater than 11% per annum, with a uniquely mitigated risk profile.
“Growth is a recurring theme of Broadmark Capital,” Joe says. “We offer a range of investment opportunities, but behind each one, we strive to see that growth—whether it’s in our investors’ portfolios, in the businesses for which we choose to raise capital, or the developers who build properties with money we loan them from our real estate fund.”
Joe enjoys the fruits of his entrepreneurial success on his Sea Ray 230 Overnighter, which he and his family frequently use to explore the same waterways that can be seen from Broadmark’s offices in downtown Seattle, and beyond into the San Juan Islands (pictured here). Recently, Joe has been teaching his grandchildren how to waterski.
“Any chance I get, I use the Sea Ray to spend time with my family,” he says. “It’s the perfect way to bring all of us together, and any time I get to spend with my grandkids is just wonderful.” Joe considers this his true legacy, and is ecstatic with the high “rate of return” they get on the water.
Growing, building, and creating opportunity is what drives Joe. “I’m lucky to have built the career and family that I have,” he says. “The rewards of seeking new ways to create have proven to be incredible.”
Broadmark Capital would be delighted to share more information on its investment, financing and management services with Sea Ray owners. Visit www.broadmark.com/searay.html for more details.