SALT LAKE CITY, Oct. 13 /PRNewswire/ -- SilverLeaf Financial (Silverleaf-Financial.com) has announced their most recent acquisition of 13 loans from the M&I Marshal and Ilsley Bank, totaling a face value of over $16 million. Nine of the purchased loans are located in Arizona, one in Illinois, two in Indiana, and one in Ohio.
The makeup of the collateral associated with these loans consists of four Multi-Family Apartments, four Retail Buildings and one Office Complex. Shane Baldwin, CEO of SilverLeaf, says, "We liked this pool of loans because of the underlying collateral, the cash flows, and the strength of the borrowers." To date SilverLeaf has acquired nearly $150 million in face-value notes from 20 loan pools and 37 loans.
In September 2009 alone, SilverLeaf purchased close to $30 million in face-value notes. Included was the Garder BTS Old Farm purchase consisting of 69 fully improved residential lots equaling $6.2 million in face value, and Monterey-Port Meirion note purchase consisting of an 84-unit Condo Complex with a face value of $7 million. SilverLeaf intends to pursue workouts with the original borrowers of these acquired notes. SilverLeaf has also received considerable interest from other groups looking to purchase these recently acquired loans. SilverLeaf Financial Partner and Chief Operating Officer Cary Clark said, "Before we acquire the notes, we always explore multiple exit strategies involving the disposition, and one of those strategies is to resell them to other investment groups or private parties."
SilverLeaf Financial also announced its newest addition to their team, Chet Thomas, Senior Analyst. Thomas comes from an experienced professional background of technical sales, real estate, and financial planning. SilverLeaf is excited to have Thomas onboard with them.
Additionally SilverLeaf will be participating in the NAIOP Development '09 annual conference held on Oct 14th-16th, in Chicago, Illinois. Baldwin has been invited to speak on the subject "Buying Distressed Commercial Paper." This event will be held at the Sheraton Chicago Hotel & Towers.
About SilverLeaf Financial
SilverLeaf Financial is a private equity firm headquartered in Salt Lake City, Utah. They focus on purchasing performing and non-performing first deed of trust loan pools from the FDIC and other financial institutions for the purpose of prompt monetization. For more information, visit http://www.silverleaf-financial.com.
Press Contact:
Campbell Dosch
V.P. Public Relations
SilverLeaf Companies
(801) 413-4702
Campbell@silverleafcompanies.com
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SOURCE SilverLeaf Financial
SilverLeaf Financial
