Private equity firm SilverLeaf Financial continues to expand its investments in distressed assets, recently acquiring two commercial loans totaling nearly $3m.
The loans, acquired from United Commercial Bank, secure office/industrial properties in Massachusetts: a 452,000-square-foot property with a $2.3m loan and a 40,000-square-foot property with a $700,000 loan.
The $2.3m loan generates strong cash flow, and SilverLeaf said it is negotiating work-out options with the borrowers of the smaller loan.
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