For Real Estate Professionals Seeking a Market Edge
Manufacturing Index Up 42.8 in May - Exceeding Performance Expectations
Reports of the industrial sector from both the United States as well as worldwide appear to be showing improvement, despite Monday's announcement by General Motors to proceed with Chapter 11 bankruptcy. While U.S. manufacturing continued its decline throughout the month of May, the sector is faring better than analysts had predicted. Similar reports from Asia and Europe also showed improvements in manufacturing.
While the free-fall in manufacturing may be abated, any signs of recovery could be limited to substantially weak levels. This is due in part to oil prices surging higher, escalating to a new high of $68 a barrel on Monday. Last years' skyrocketing oil prices, which peaked at $150 a barrel, inflicted major damage to the global economy.
We will keep you posted…
$5,250,000 Loan Quote for Industrial Property
Penstar has obtained a loan quote for the refinance of a 125,000 square foot industrial property located in the Northeastern United States. The property is 97% leased with local and regional tenancy. The lender offered a fixed-rate loan of $5,250,000, a 10-year term, amortized over 25 years at 7.35% interest. To discuss, please contact Steven Hamermesh at (818) 883-9609 or Hamer@PenstarAdvisors.com
TALF Lender Rolls Out New Nationwide Loan Program
Penstar recently identified the “next generation” of securitized lending. Our originator will provide borrowers loans from $10 million to $75 million in major metropolitan areas nationwide. The loans will be non-recourse beyond the standard carve outs of fraud, waste, and toxics. Loan terms will be either 5 years with a fixed interest rate of 9.2%; or 3-years at 8.0%. All loans will be amortized over 30 years and will carry a defeasance prepayment penalty. For more information, 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.
“True Love?” Kym & Mike were engaged in a discussion about what to see and do while on their honeymoon. In a desperate attempt to assert himself from the onset of their newly formed union, the new husband exclaimed, “I should decide because if it weren't for my money, we wouldn't be here at all!” To which Kym replied, “My dear, if it weren't for your money, I wouldn't be here either!” |
30
Day Libor |
10-Year
Treasury |
Prime |
0.32% |
3.74% |
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