SALT LAKE CITY, Aug. 2, 2011 /PRNewswire/ -- SilverLeaf Financial announced today that Loan Tree Investments LLC has chosen to exercise their option to put the Flagstaff, Arizona "Pine Canyon" project over to SilverLeaf. The Utah-based private equity firm is making preparations to fulfill their obligations of the agreement.
Shane Baldwin, a principal of SilverLeaf stated, "We are enthusiastic about this opportunity and want to assure the residents, members and staff of Pine Canyon that they will continue to see and experience the same standards of excellence Pine Canyon has always experienced. Pine Canyon is a unique place and we are committed to preserving and improving its facilities and amenities for families, golfers and private residents for many years to come."
Baldwin expressed his assurance that the golf course and community will continue to operate as usual and without interruptions or major changes, demonstrating SilverLeaf's focus on retaining the development's high level of excellence. "We are confident you will see Pine Canyon prosper, grow its membership and continue to be one of America's premier developments, as we are committed to this project long term," said Baldwin.
Baldwin also expressed his appreciation to Mr. Greenbaum for his vision and Pine Canyon's President of Operations, Warren Smith. "They have done an exceptional job with Pine Canyon. The community's diverse amenities offer the residents an assortment of first-class activities to enjoy. They have assembled a friendly, enthusiastic and professional staff making the residents and guests feel comfortable and well taken care of."
Baldwin said that moving forward he is excited to get to know the staff and participating in many of the activities the community has to offer. The effective date of the agreement is November 7, 2011. However SilverLeaf anticipates closing on or before Aug 30th.
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.
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SOURCE SilverLeaf Financial, LLC