For Real Estate Professionals Seeking a Market Edge
U.S. and UK See Return to Growth Though Big Risks Still Remain
The United States and other leading world economies are currently positioned to benefit from the effects of growth as early as the final quarter of 2009 and early 2010. Despite positive economic indicators, significant risks are expected to remain. Policymakers from the world's leading developed nations will meet in the coming months to evaluate progress of agreements made at April's G20 summit meeting in London.
A follow-up discussion is expected to culminate at a G20 summit in Pittsburgh late this summer. Representatives of eight leading industrialized nations agreed last week that the world economy is stabilizing but remains frail, and support measures should be withdrawn once a recovery is certain. Requiring banks to again begin lending and do so at normal levels is seen by the group as crucial in order to sustain any measured recovery.
We will keep you posted…
$5.3 Million Retail Center Loan Quote
Penstar recently obtained a loan quote for a shadow anchored shopping center in Northern California. The 42,000 square foot retail property is presently 100% occupied and located in a dense in-fill location. The lender is offering a 5-year fixed rate loan at 6.75%, with a 30-year amortization and no prepayment penalty. To discuss, please contact David Stepanchak at(818) 883-9611, or via email at DStep@PenstarAdvisors.com.
Hot Money
National Floating Rate Bank Program
Penstar recently identified a national lender funding floating rate loans on multifamily, mobile home parks, self-storage, medical office, assisted living facilities, and leased credit tenant retail & industrial properties nationwide. Transactions considered range from $2 million to $11 million. Rates start at Prime + 1.90%, with a coupon floor of 6.35%, to a 70% maximum LTV/LTC. All loans are one to five years in term, full recourse, and can have up to 3 years interest-only with no prepayment penalty. 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.
“I'm Betty Sanders” An elderly woman dialed her local hospital, asking to be transferred to the nurses' station for a patient named Betty Sanders. When the woman inquired as to Betty's status, the nurse eagerly responded, “Ms. Sanders is progressing very nicely. In fact, she's had three meals today, her blood pressure is stable, and tomorrow she will be taken off of the heart monitor.” “If she continues improving at this rate,” the nurse added, “the Doctor will be releasing her the day after tomorrow.” |
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