For Real Estate Professionals Seeking a Market Edge
TARP Money Turns to TRAP Money for Banks
Many experts feared that the U.S. banking system would become nationalized following the announcement of the Troubled Asset Relief Program or TARP bailout program. As such fears neared reality, banks who accepted TARP funds are now moving toward paying off the TARP funds they received. Banks who accepted these funds discovered that the loans came with too high a burden of government regulation and control. What was originally thought to be oversight, the program led to significant government interference and impeded normal banking operations.
In a strong effort to escape the trap of TARP funds, institutions are going to the public markets through stock offerings as well as raising capital privately
We will keep you posted…
$4,500,000 Unsecured Line of Credit
Penstar recently entered into application on a $4.5 million unsecured line of credit. The borrower is an experienced owner/operator of commercial properties with high recurring cash flow. The lender provided an unsecured LIBOR based line of credit on an interest-only basis. This regional lender is seeking to provide additional unsecured and secured lines of credit for individuals and companies located throughout Southern California. To discuss, please contact Steven Hamermesh at (818) 883-9609 or Hamer@PenstarAdvisors.com.
Non Recourse Investment Grade Single Tenant Financing
Penstar has access to $100 million in capital for the purchase and refinance of investment grade single tenant properties located east of the Mississippi River. Assets in the Southeastern United States are preferred. Program loan terms are non-recourse with a 30-year amortization up to a 7 year term. Newer construction will be considered to 75$ loan to value. Limited cash-out will be permitted on refinances. Properties considered are industrial, office, and retail ranging from $2 million to $12 million. To discuss, please contact Steven Hamermesh at (818) 883-9609 or Hamer@PenstarAdvisors.com
Helpful Humor
We at Penstar understand the challenges of the commercial real estate business. The best antidote for those challenging transactions is to take a moment to have a hearty laugh. Helpful humor is our way of infusing laughter into your work week. The anecdotes may not all be real estate themed but we hope you will enjoy them just the same.
“Where is My Sunday Paper?” An irate customer called his local newspaper office, demanding to know what became of his Sunday paper. |
30
Day Libor |
10-Year
Treasury |
Prime |
0.45% |
2.83% |
3.25% |
Penstar Realty Advisors can be reached at (818) 883-8600 or at our offices located at:
21700 Oxnard Street, Suite 1870, Woodland Hills, CA 91367