Silo Financial Reaches $200 Million Loan Distribution Benchmark
Boutique Private Equity Finance Company Gives Much-Needed Jolt to Tri-State and National Real Estate Industry
STAMFORD, CT – May 29, 2012 – Private equity real estate finance company Silo Financial Corp. is today announcing a major loan origination milestone at a time when lending is just beginning to crawl from a standstill. Since inception in 2001, Silo Financial has closed 125 loans totaling more than $200 million, including over $100 million in loan transactions over the past two years.
As Silo Financial continues to infuse the real estate market with quick, strong-impact situational capital, private investors are increasingly attracted to the company’s short-term loan opportunities for their security and high yields.
“As large banks have tightened their purse strings, Silo Financial has taken advantage of the lending climate and increased its origination volume with loans tailored specifically for each borrower,” said Jonathan Daniel, founder, president and CEO of Silo Financial. “We have a very unique evaluation process that often leads us to commonsense lending opportunities that conventional lenders pass up – often due to regulatory impediments or closing time constraints.”
An alternative to traditional bank lending, Silo Financial specializes in bridge loans and other structured debt products that service small to middle market 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. The company has an outstanding track record for sourcing, closing and capitalizing on these private lending opportunities, all of which Mr. Daniel has directly invested in.
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 11.4 percent average annualized return on investment per loan, while incurring less than a one-cent loss on each $1 of principal invested.
Over the past two years, Silo has applied its powerful resources and bridge loans to a broad spectrum of real estate ventures and new construction projects including retail, mixed-use, multifamily, medical, condominiums and single-family investments.
Of the 125 transactions, recent noteworthy projects include a $6.2 million bridge loan for the pre-development acquisition of two adjacent prime mixed-used properties at 182 and 186 Spring Street in SoHo, where the borrower is planning a 20,000-square-foot luxury condominium with 6,000 square feet of retail space.
Additionally, Silo Financial has funded the construction of a 6,000-square-foot new speculative home construction project in the Village of Southampton with a $2.9 million loan, along with an architecturally significant multi-family-to-townhouse conversion at 116 Waverly Place in Greenwich Village, for which Silo Financial provided a $6.5 million loan. Currently on the market, the 11,000-square-foot townhouse boasts seven bedrooms, seven full bathrooms, four powder rooms and exceptional living spaces spanning six floors.
The company also loaned $6.2 million for the construction of a sprawling 10,000-square-foot ultra-lux single-family home in Sagaponack, NY, that comprises seven bedrooms, 12-bathrooms, a private theater with stadium seating, a professional grade kitchen and exquisite outdoor living spaces all on 1.5 prime Long Island acres on prestigious Daniel’s lane.
“The real estate market is regaining traction and, with the help of strategic private capital, new projects are underway and stagnant developments are finally picking up speed,” said Daniel. “We are proud to be a funding alternative and to give these and other projects a much-needed boost, while providing arguably the most attractive risk adjusted investment returns in the current investing environment.”
ABOUT SILO FINANCIAL CORP.
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. For more information about Silo Financial Corp., visit www.silo-financial.com.