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Brokerage
Posted: August 27, 2012
Silo Financial funds $945,000 first mortgage
Silo Financial Corp., a boutique private equity company specializing in small to mid-market real estate lending, has funded a $945,000 senior secured first mortgage loan for a new construction project on Elmer St.-a community located 25 miles from Manhattan named in the top third of best American small towns by Money Magazine in 2011.
Once complete, the mixed-use building will house four residential condominiums and two ground level retail spaces.
The borrower is an experienced builder with strong credit who originally purchased the property in 2011.
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