Silo Financial Closes $945,000 Loan for New Construction in Madison

NEW JERSEY—Stamford, Conn.-based Silo Financial Corp., a private equity company specializing in small to mid-market real estate lending, has closed more than $4 million in financing in three transactions. Included in those transactions is a $945,000 loan for new development in Madison, N.J.

Silo Financial provided a $945,000 senior secured first mortgage loan for a new construction project on Elmer Street in Madison, N.J. 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.

In addition to the N.J. 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 New York City and the Hamptons. In the Hamilton Heights section of Manhattan, Silo Financial closed on a $405,000first mortgage bridge loan secured by an 11,000-sq.-ft. building on Amsterdam Avenue.

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