SilverLeaf Financial purchases two loans in Mass. totaling $3 million

SilverLeaf Financial has recently purchased two loans totaling a face value amount of nearly $3 million from United Commercial Bank. The properties are located in Mass. One loan is a $2.3 million face-valued loan that consists of a 452,000 s/f office/industrial building in Taunton. The building sits on approximately 40 acres. SilverLeaf is excited about the purchase as there is terrific cash flow being generated from the tenants in this building. The other purchase is nearly a $700,000 face value loan, consisting of approximately 40,000 s/f of office/industrial space in Worcester. SilverLeaf has already contacted the borrowers and is currently in negotiations on the work-out side with both of the borrowers. SilverLeaf Financial has also recently acquired a 42,000 s/f medical office/condo building in Torrance, Calif., outside of downtown L.A. The property was purchased by the current borrower in 2005. It underwent extensive renovation, and the offices were converted into medical office condos for sale. SilverLeaf intends to continue to work with the current borrower of this loan. The original loan was underwritten by Marathon Structured Finance Fund, who sold the loan to SilverLeaf after they were unable to securitize the credit needed when the securitization market collapsed. SilverLeaf intends to sell the medical office/condo units individually at a discounted price. Originally, these units were selling at $550 per s/f two years ago. From a quality perspective, CEO Shane Baldwin said, "This is the nicest asset that we have purchased to date, and I am excited about the profitability of this venture." SilverLeaf Financial continues to look for distressed assets, and is an active buyer of distressed assets and distressed debt. SilverLeaf Financial is headquartered in Salt Lake City, Utah, SilverLeaf Financial is a private equity firm that focuses on purchasing pools of performing and non-performing, 1st deed of trust loan pools from the FDIC and other financial institutions for the purpose of prompt monetization. For more information visit the SilverLeaf Financial web siteat www.SilverLeaf-Financial.com.