SilverLeaf Financial Acquires Loan for Premier Golf Course and Community in Flagstaff Arizona

SALT LAKE CITY, April 20, 2011 /PRNewswire/ -- SilverLeaf Financial recently announced the acquisition of a non-performing loan secured by a private golf course and resort called "Pine Canyon" in Flagstaff, AZ. Located near the southwestern edge of the Colorado Plateau, the private mountain retreat is known as "The upscale golf community of choice" in Northern Arizona. Both the golf course and community have been branded with numerous awards, such as "Best in the West" Gold Nugget Award for best Public/Private Recreational Facility; "#4 Best Club In Arizona" by Golf Digest; "Top 25 Best New Courses," "Best Residential Course" by Golf Week; and "Clubhouse of the Year" by Golf Inc. Magazine.

Included in the loan's collateral are several new multi-million dollar estate homes, townhomes, condos, improved lots and raw land. SilverLeaf's CEO, Shane Baldwin said, "It's a unique asset class, not one we would normally buy on a one-off basis. But because it was part of a pool of loans we acquired, we felt that our risk was diversified."

SilverLeaf Financial purchased the Pine Canyon loan along with eight other distressed commercial real estate (CRE) loans from the same financial institution in March. The activity in the distressed sales sector is continuing to increase quarter over quarter, with the majority of these assets yet to work through the system and come to market.

Of the $1.4 trillion balance of outstanding commercial/multifamily mortgages held by non-bank investors, only 11 percent of the total ($155 billion) will mature in 2011 and 9 percent ($125 billion) in 2012 according to the release of the Mortgage Bankers Association's (MBA) 2010 Commercial Real Estate/Multifamily Survey of Loan Maturity Volumes. The survey found that maturities vary considerably by the type of investor holding the loan. These maturities should create more distressed opportunities in 2011 and the years to come.

About

Headquartered in Salt Lake City, Utah, SilverLeaf Financial focuses on acquiring non-performing commercial loans secured by first position trust deeds. These assets are acquired from the FDIC, banks, special servicers and other financial institutions for the purpose of future monetization. For more information, visit SilverLeaf Financial's website, http://www.SilverLeaf-Financial.com.

Contact:
Campbell Dosch
SilverLeaf Financial, LLC
VP, Marketing and Public Relations
801-359-2855, ext. 229
[email protected]

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SOURCE SilverLeaf Financial