Blueprint Capital Announces Fourth Quarter and Full Year 2012 Financial Results

SEATTLE–(BUSINESS WIRE)– Blueprint Capital, LLC, the leading residential construction lender in Seattle, today announced its financial results for the fourth quarter and year ended December 31, 2012.

2012 Financial and Operational Highlights

• Year-over-year net income growth of 76%
• Year-over-year increase in net loans receivable of 74%
• Raised $15.4 million in new equity capital
• Low debt-to-equity ratio of 0.58 to 1 at December 31, 2012
• Efficiency ratio of 22.4%
• Portfolio mix of 93% new construction
• Collateral mix of 96% one- to four-family residential
• Zero non-performing loans since inception
• Posted 34 consecutive monthly distributions to investors as of December 2012
• Market share of 39% of new homes sold between $400,000 and $1.0 million in Seattle

“Our outstanding operating results for 2012 showcase the success of our business model as well as the benefit to our investors,” said Mark Knoll, Co-Founder and CEO of Blueprint Capital. “In our third year of operations, we retained our leadership as Seattle’s top one- to four-family construction lender, expanding our target market share to 39% in 2012 from 32% last year. We returned an average of 10.95% on members’ equity investments, and through the end of 2012, we’ve made 34 consecutive monthly preferred distributions to investors as well as declaring three special distributions.

“We believe that the most effective way to maximize value is continuing the hard work of building complementary service and finance businesses,” Knoll continued. “This integrated model benefits our customers and, coupled with our technology platform, strengthens our enterprise. Looking ahead, we plan to expand the Blueprint model to East King County with an independent investment fund. The new Eastside fund, called Blueprint Capital II, will focus on lending in Kirkland, Bellevue and Redmond.”

Operating Results

Blueprint achieved a 76% increase in net income …read more
Source: FULL ARTICLE at DailyFinance