[Update 1 reflects corrected loan ranges for Silo.]
bridged a real estate capital gap Wednesday when it committed $100m to a Stamford-based direct mortgage lender.
The partnership allows Silo Financial Corp.
to continue providing short-term bridge loans secured by commercial and investment property -- focusing on loans from $750,000 to $20,000,000.
"With the backing of KPO, in conjunction with our internal Mortgage Opportunity Fund and existing capital platform, we plan to take full advantage of the current opportunities by funding even more of the deals other lenders continue to pass up," Silo president Jonathan Daniel says in a media statement
"There's very little going on right now -- deals aren't happening because lenders aren't lending," he adds. "But like KPO, we see tremendous opportunity, especially in the current market."
Write to Diana Golobay