SilverLeaf financials has acquired
financing
of $17.7. The
loan is non-performing and
it's also properly
secured by residential condo
along
with retail development in Salt Lake City.
SilverLeaf financials have just attained
a non-performing loan, which
uses Broadway Park Lofts Development as equity
security. A
total of 86 condominiums
will
undoubtedly be developed as
a part of the undertaking.
34 of these condominiums
happen
to be developed plus
they are ready for a move-in. The
remainder project,
which
includes 56 condos
and retail space, is
still in gray-shell condition. Most
condominiums
have two bedroom although
some are single bedroom residences, depending
on size
of just
about every household
space. The underground space will
undoubtedly be employed
for car
parking. The ground level, that
contains retail space, can
have added
parking
lot for workplaces.
While
the project had faced
number of delays
in
past times, it
is currently set
to
finish. FHA recently
okayed
its progress,
enabling
sales to end-buyers.
The guarantee
includes
4
commercial
units, that
happens to be situated
in a
nearby condo development. The
second lien
securing the loan is a 11,816 sq
. ft . retail building found
in Salt Lake City.
You
will find there's higher
likelihood
that the real
estate values will surge
in next
months in areas
nearby the city. Due
to significant
development
and interest
in cheap
living in the downtown area, real
estate property developers and analysts are guessing
that
it will have
an impact on real
estate value of nearby condo developments. Broadway Park Lofts
will
see rise in real estate property value plus
desirability.
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