Sachem Capital, a real estate financing firm operating as a mortgage REIT, has completed a $200 million master repurchase financing facility with Churchill MRA Funding.

Under the terms of the deal, Sachem has the right, but is not obligated to, sell mortgage loans to Churchill, a subsidiary of NYC-based Churchill Real Estate. Churchill also has the right, but not the obligation, to buy those loans.

The master repurchase financing facility is expected to reduce the overall cost of Sachem’s capital and finance the continued expansion of its lending business and other general corporate purposes, the company said in a statement.