SilverLeaf Financial Acquires A $57 Million Non Performing Loan Secured By Luxury Condominium Units in Steamboat Springs, Colorado.

Salt Lake City, UT --Oct 26, 2010. Silverleaf Financial recently acquired a $57 Million non performing loan secured by 58 unsold luxury condominium units within the 86 unit Trailhead Lodge Development in Steamboat Springs, Colorado.

The loan originated in 2007 for the amount of $57.4 Million and was later extended in 2009. Currently the loan is in maturity default with an unpaid principle balance of approximately $48 Million.

Trailhead Lodge is a luxury hotel/condominium project built in 2009 on a 2.73 acre site. The property is the focal point of a 47 acre development known as the Wildhorse Meadows. The property is located minutes from the base of Steamboat Ski Resort, which can easily be reached via the Trailhead gondola that conveniently transports condo owners and guests to the base of the resort.

The Steamboat Ski Resort boasts a massive 2,965 acres, encompassing over 3,300 vertical feet of ski area. With a genuine old western town feel and 249 inches of average snowfall, the mountain services more than a million skiers per year. See your website

The lodge is managed by Wyndham Vacation Rentals. Wyndham offers one of the largest and most diverse collections of serviced vacation rental accommodations in the world. They manage more than 90,000 vacation properties in over 500 destinations. They also provide over 51,000 independent vacation property owners the opportunity to rent their properties through there well known vacation rental brands.