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Silo Financial Marks Its 10th Anniversary with Four Loans Funded Totaling $17.5 Million |
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STAMFORD, Conn., February 23, 2011 -- Silo Financial Corp., a leading private real estate investment
company, is celebrating its 10th anniversary with the announcement of several loans, including the following four
notable transactions totaling $17.5 million funded in the past 60 days:
$7,000,000 – New York, NY/Hamptons
Estate recapitalization on a 10,000-square-foot Townhouse on New York’s
Upper East Side and an oceanfront estate in Southampton.
$7,000,000 – Greenwich, CT
Acquisition loan on 18-acre subdivision.
$1,900,000 – New York, NY/Manhattan Three property blanket
mezzanine loan
Mezzanine blanket loan secured by three prime Manhattan properties.
$1,600,000 – New York, NY/Upper West Side construction completion
loan
The loan was used to bond a mechanics lien and complete construction of
an 8,200- square-foot townhouse project to be marketed for sale.
Since its founding in 2001, Silo Financial has marked a decade in business with exceptional performance. The
company boasts 110 loans closed and directly funded with over $200 million in loan volume; a successful seven
year track record of running Silo Mortgage Opportunity Fund I, LLC with annual returns over 9.8%; a cumulative
total return of over 93%; and lending capabilities nationwide on deals up to $20 million.
2010 was Silo Financial’s best loan origination year to-date. Last year, the company provided its investors with
an 11.83% return and closed nearly $50 million in loan originations. Silo has already closed $10 million in loan
originations in 2011, on track for its goal of closing over $125 million for the year.
“Silo Financial has not only survived the worst economic recession since the Great Depression, but has thrived
in an industry where many of our peers collapsed or are sidelined, thanks to our conservative approach, the
hallmark of the Silo brand,” says Jonathan Daniel, Founder and CEO of Silo Financial. “The name Silo evokes
the conservative upbringing and philosophy engrained in me on the dairy farm where I was raised, first in the
business of farming and cattle dealing, and then in the business of financing developers in home construction.
The need to save money to get ahead has instilled an investment mentality focused on risk aversion and
downside protection. It is this same doctrine which has led to our success over the past 10 years. Currently, Silo
has no leverage on its existing loans and at its peak never utilized more than 50%.”
Additional recent Silo loans include:
$6,500,000 – New York, NY
Acquisition and Rehabilitation First Mortgage on a 10,000-square-foot 5-story Townhouse in Greenwich
Village.
$7,200,000 – New York, NY
Refinance and Partner Buyout on a 12,000-square-foot Medical Office Condominium on New York’s
Upper East Side.
Silo Financial is currently capitalizing on the unique dislocation in the capital markets by focusing on deals that
are too small for larger institutions and have special situations which most of the conventional small and
medium sized banks, which are currently under heavy regulation, cannot accommodate. The firm engages in
practical asset based real estate lending. As opposed to traditional private hard money lenders, Silo Financial
considers itself a specialty finance company with greater flexibility and more attractive rates than the typical all
in mid-to-high teen yields hard money lenders demand.
The short window of opportunity for investors to take advantage of banks offering discounted note purchases
(most often non-performing) and mortgage buybacks has created high demand for loans from private lenders
such as Silo. The company’s 10 year track record offers certainty of execution and a quick turnaround to
borrowers seeking to capitalize on situational circumstances, with multi-million dollar deals closed in as little as
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Silo Financial Closes $13.7 Million in Loans During the Third Quarter of 2010 |
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STAMFORD, Conn., October 01, 2010 -- Although the "Great Recession" ended in June of 2009, commercial real estate industry leaders are finding that "practical financing" for transitional, distressed and value added real estate transactions remains very difficult. Nevertheless, Silo Financial has been able to successfully provide capital to Borrowers faced with situational financing needs. During the 3rd Quarter Silo closed two deals totaling $13,700,000, thereby funding over $40mm this year. Silo has the funding capability to lend up to $20mm on a single qualified transaction; however, it specializes in financing smaller and middle market loans of less than $10mm, which are typically underserved by larger institutions.
Silo's recent loans include:
$6,500,000 - New York, NY
Acquisition and Rehabilitation First Mortgage on a 10,000 S/F Townhouse in Greenwich Village.
$7,200,000 - New York, NY
Refinance and Partner Buyout on a 12,000 S/F Medical Office Condominium in Manhattan.
Silo Financial is a private real estate investment company that provides a broad range of specialty capital, including bridge mortgages, 2nd 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 extraordinarily difficult market, where borrowers require clarity and certainly of execution Silo's 10+ year lending track record has earned itself a reputation that borrowers can count on," according to Jonathan Daniel, CEO of Silo Financial. "We have originated over $40mm in loans in the first three quarters of this year and continue to see significant opportunity for continued growth. Our track record of closed transactions, coupled with creativity and a willingness to explore different and unusual solutions, is truly our differentiating factor."
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. Additionally, Silo is actively seeking to help existing real estate owners and investors restructure and/or acquire non-performing loans.
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Silo Financial Closes $23 Million in Loans During First Quarter of 2010 |
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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