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Silo Financial Closes $23 Million in Loans During First Quarter of 2010 |
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STAMFORD, Conn., April 20, 2010 -- During an economy that has seen one of the most dramatic slowdowns in lending history, Silo Financial Corp. continues to close large loans—quickly and frequently. In just the first three months of 2010, the Stamford, CT-based lender has closed deals totaling $23,250,000. Among these transactions were Property Acquisitions to Mortgage Refinances to Cash-out Mezzanine Blanket Loans.
Silo's recent loans include:
$2,000,000 - New York, NY
Refinance First Mortgage on a Condominium Investment Property in Tribeca
$1,800,000 - Greenwich, CT
Cash-out Mezzanine Blanket Loan on two Single Tenant Properties
$1,200,000 - New Haven, CT
Refinance Second Mortgage Blanket Loan on a Mixed-Use Commercial Property
$4,000,000 - Greenwich, CT
Refinance First Mortgage on 9.5-acre +/- Horse Estate
$7,500,000 - Greenwich, CT
Construction Completion First Mortgage on 22,000 S/F Speculative Estate Property
$3,250,000 - New York, NY
Refinance First Mortgage on a Manhattan (SoHo) Commercial Cooperative Renovation
$3,500,000 - Brooklyn Heights, NY
Note Acquisition Financing on a 6,500 S/F 5-Story Multi-Family Building with additional mortgaged collateral
A private real estate investment company, Silo Financial provides a broad range of specialty capital, including bridge mortgages, mezzanine loans, preferred equity and other structured debt and equity products. Silo specializes in flexible solutions to meet capital needs not typically accommodated by banks or traditional institutions. Since 2001, Silo has earned an exceptional reputation for consistently finding and closing deals, even in the turbulent current market that has seen lending—and closed deals—grind to a virtual halt.
"In this economy, Borrowers can not afford to speculate on a private lender. With one chance to capture an opportunity quickly or take advantage of a restructuring with an existing lender, borrowers need clarity on terms and certainty of execution more than ever. With many of the private lenders of years passed sidelined due to rescinded or expired credit lines and/or portfolios of problem loans, very few private lenders actually have the wherewithal to close on new loans," according to Jonathan Daniel, CEO of Silo Financial Corp. He continued, "We successfully originated over $23mm in loans last quarter and we see tremendous opportunity for continued growth. Our style of lending involves a lot more listening to special circumstances, rather than just evaluating numbers and scores and immediately rejecting a deal. Our 'creativity' and willingness to explore different and unusual solutions in an expeditious manner enables us to structure loans that work for a borrower's specific needs."
Recognizing that every transaction is unique, Silo's objective is to fully understand the circumstances and situation behind every transaction—the borrower's requirements, real estate asset(s) involved, exit strategy and more. Loan-to-value ratios, interest rates and terms vary by situation, risk profile and type of loan. In a business that's all about relationships, expediency and creativity, real estate professionals have come to appreciate the straightforward, professional approach of Silo Financial and the commitment to ethical business and exceptional service.
Headquartered in Stamford, CT, Silo Financial Corp. is a direct mortgage lender that provides solutions to meet financial needs not typically accommodated by most banks and traditional lenders. Silo specializes in providing short-term bridge loans secured by most types of commercial and investment property, focusing on loans from $1,000,000 to $20,000,000, including special situation, time-critical and difficult financing. The firm has developed an exceptional reputation for structuring and funding complex loan transactions in a timely and efficient manner. Additionally, Silo is actively seeking to help existing real estate owners and investors restructure and/or acquire non-performing loans.
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Newly Formed Alliance with KPO Ventures Commits $100 Million to Silo Financial Corp.
--While other lenders have essentially stopped lending, Silo benefits from substantial new backing |
STAMFORD, Conn., May 6, 2009 -- Silo Financial Corp., a direct private lender, is pleased to announce a strategic alliance in which KPO Ventures has committed $100,000,000 in strategic real estate capital. This infusion of capital makes the already powerful resources of Silo much more formidable in the direct private lending or "hard money" industry and expands Silo's capacity to directly acquire non-performing loans and offer strategic equity products.
New York City-based KPO Ventures is a mid-market private equity fund founded by former partners at multi-billion-dollar hedge funds. Seeing unique opportunity in the current real estate market, KPO has strategically partnered with Silo Financial, an established specialty finance company. Silo has earned an exceptional reputation for consistently finding and closing deals, even in the turbulent current market that has seen lending -- and closed deals -- grind to a virtual halt.
"We've worked together before [Silo and KPO Ventures] and immediately developed a mutual respect," notes Jonathan Daniel, President of Silo Financial Corp. He continues, "Both firms employ a straightforward 'no-nonsense' approach based on expeditious decisions and delivering what we've promised. There's very little going on right now -- deals aren't happening because lenders aren't lending. But like KPO, we see tremendous opportunity, especially in the current market. Our style of lending involves a lot more listening to special circumstances, rather than just evaluating numbers and scores and immediately rejecting a deal. With the backing of KPO, in conjunction with our internal Mortgage Opportunity Fund and existing capital platform, we plan to take full advantage of the current opportunities by funding even more of the deals other lenders continue to pass up."
Headquartered in Stamford, CT, Silo Financial Corp. is a direct mortgage lender that provides solutions to meet financial needs not typically accommodated by most banks and traditional lenders. Silo specializes in providing short-term bridge loans secured by most types of commercial and investment property, focusing on loans from $750,000 to $20,000,000, including special situation, time-critical and difficult financing. The firm has developed an exceptional reputation for structuring and funding complex loan transactions in a timely and efficient manner. Additionally, Silo is actively seeking to help existing equity partners restructure and/or acquire non-performing loans.
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