August 27, 2012 -
New York City
Silo Financial Corp., a boutique private equity company specializing in small to mid-market real estate lending, has funded a $2.7 million blanket mortgage loan and a $405,000 bridge loan.
In the first transaction, Silo Financial closed on a $2.7 blanket mortgage loan to provide an estate with working capital while it continues to liquidate a portfolio of high-end properties throughout the city and the Hamptons. The deal is secured by a 4.5-acre oceanfront property in Southampton, along with a first mortgage on a 2,360 s/f duplex condominium located on Laight St. in TriBeca.
Additionally, Silo also secured a $405,000 first mortgage bridge loan secured by an 11,000 s/f building on Amsterdam Ave. in the Hamilton Heights neighborhood.
With over $4 million in transactions in July and continued activity in August, the Stamford-based firm anticipates a strong fourth quarter. "Silo Financial has had an exceptional 2012, and we are thrilled to continue the momentum with three deals closed last month," said Jonathan Daniel, founder, president and CEO of Silo Financial.
An alternative to traditional bank lending, Silo Financial specializes in bridge loans and other structured debt products in the $500,000 to $15 million range that service real estate opportunities typically underserved by larger financial institutions and funds. Silo Financial offers private loans designed for individual situations, including discounted noted buybacks, note acquisition financings, rehab, construction, transitional properties, second mortgages/mezzanine loans, partner buyouts, and transactions requiring closing in as little as five days. Since inception, Silo Financial has closed over 125 transactions in 10 states, including New York, New Jersey and Connecticut, totaling more than $200 million, and has realized an 11.3 percent average annualized return on investment per loan, while incurring less than a one-cent loss on each $1 of principal invested.
"In the coming months, Silo Financial will continue to expand its investment portfolio by increasing fund-raising goals, focusing on loan originations and servicing unique, short-term situations like the $945,000 construction loan, $2.7 million blanket mortgage loan, and $405,000 bridge loan closed last month," Daniel said. "Silo Financial continues to seek new lending opportunities and is generating great interest among high-net worth investors and family offices that are attracted to the company's real estate-secured loan investments."
Headquartered in Stamford, CT, Silo Financial Corp. is a private equity based real estate finance company that provides a broad range of specialty capital in the $500,000-$15 million range, including bridge mortgages, mezzanine loans, preferred equity and other structured debt and equity products secured by most types of commercial and investment properties. Over the past 11 years, 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.