For Real Estate Professionals Seeking a Market Edge
Consumer Confidence Rises in June
The Reuters/University of Michigan Survey of Consumers reported on Friday that the worst economic recession since the Great Depression is showing indications of coming to an end. U.S. consumer confidence rose in June to its highest level since February 2008. The Reuters/UofM survey showed its final index of confidence for the month of June was at 70.8, up from 68.7 in May, equaling February 2008's reading; and above economists' median expectation of 69.0. The index of consumer expectations edged lower, however, to 69.2 in June from 69.4 last month. Since the November 2008 low of 55.3, the sentiment index has gained 15.5 points, recovering approximately one-third of the loss posted since its peak in January 2007. Such a sizable gain usually indicates that an end to economic downturn is on the horizon, as consumers begin to ramp up their spending on homes, vehicles, and large household durable goods. We will keep you posted…
$4.2 Million Industrial Loan Quote
Penstar recently obtained a refinance loan quote on a multi-tenant industrial property in Oregon. The 62,000 square foot property has a current occupancy of 93% and is leased to 14 tenants. The lender provided a 5-year fixed rate loan at 7.35%, a 25-year amortization schedule, to a 58% LTV. To learn more, please contact Steven Hamermesh at (818) 883-9609 or Hamer@PenstarAdvisors.com
Hot Money
Insurance Company Providing Non-Recourse Financing for California Properties
Penstar is currently working with an insurance underwriter actively funding non-recourse loans on office and industrial properties located throughout California. Loans considered will range from $2 million to $20 million; will offer a term of up to 10 years, and a maximum 30-year amortization. Maximum loan to value will be 55% with a fixed interest rate at 7.25%. 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.
“Love is…” Nancy was married for many years and enjoyed a strong, healthy relationship with her husband, Andrew. One day, she approached her husband, saying, “Andrew, the young couple that just moved in next door seems such a loving twosome.” “Every morning when he leaves the house,” she continued, “he kisses her goodbye. Every evening when he returns homes, he brings her a dozen roses.” |
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