Shane Baldwin Silverleaf Financial Utah Purchases financing of $17.7 Million SilverLeaf financials has obtained credit of $17.7. The loan is non-performing in fact it is collateralized by residential condo alongside retail development in Salt Lake City. SilverLeaf financials have just bought a non-performing loan, which utilizes Broadway Park Lofts Development as collateral security. As many as 86 condominiums will probably be developed as a part of the undertaking. 34 of these condominiums have already been developed and are generally ready for a move-in. The remainder assignment, which includes 56 condominiums and retail space, still is in grayshell condition. Almost all condos have two bedroom and some are single bedroom residences, depending upon the size of each household space. The underground space would be used for parking. The ground level, comprising retail space, should have added automobile parking space for workplaces. Even though the project had faced number of setbacks in the past, it's now completely ready to finish. FHA has approved its advancement, making it possible for sales to end-buyers. The guarantee comprises of four industrial units, which are located in the local condo development. The next mortgage securing the loan is a 11,816 sq ft retail building located within Salt Lake City. There exists a high probability that the real estate investment values will rise in the approaching months in locations nearby the city. Due to substantial improvement and demand for reasonably priced living in the downtown area, property developers and analysts are guessing that it will affect real estate value of nearby condo developments. Broadway Park Lofts will see rise in real-estate value together with desirability.
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Published on Jan 23, 2013
Shane Baldwin Silverleaf Financial Utah Purchases financing of $17.7 Million