For Real Estate Professionals Seeking a Market Edge
Rise in Foreign Demand for Long Term Bonds
Foreign demand for long-term U.S. bonds rebounded in June despite both Russia and China having trimmed their respective holdings. On Monday, the U.S. Treasury Department announced that foreign nations purchased $90.7 billion more in long-term U.S. securities than they sold in June; a significant rebound from May's figures, where foreign nations sold $19.4 billion more than they purchased. China, the largest foreign holder of U.S. treasury securities, trimmed its holdings to $776.4 billion in June from $801.5 billion in May. Russia also reduced its holdings 3.7% to $119.9 billion in June. Japan, the second largest holder of U.S. treasury securities, increased its holdings 5.1% to $711.8 billion in June. The United Kingdom, the third largest holder of treasuries, increased its holdings nearly 31% to $214 billion We will keep you posted…
Hot Money
Insurance Company Seeking Loans Nationwide
Penstar recently identified an insurance company seeking to fund $50 million in loans each month for the balance of 2009. Stabilized product types include mini-storage, office, and industrial properties throughout the United States. Properties considered will range from $500,000 to $3,000,000. Larger portfolios are also desired. The loans are full recourse to a maximum of 65% loan to value. Loan terms and corresponding rates as of August 20th are as follows:
| Loan Term (Years) | Intrest Rate (Range) |
|---|---|
5 |
7.00-7.625% |
7 |
7.25-7.875% |
10 |
7.50-8.125% |
15 |
7.875-8.25% |
20 |
8.125-8.50% |
To learn more, please contact Steven Hamermesh at (818) 883-9609 or Hamer@PenstarAdvisors.com..
Helpful Humor
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
“Golf Jokes”
|
30
Day Libor |
10-Year
Treasury |
Prime |
0.32% |
3.74% |
3.25% |
Penstar Realty Advisors can be reached at (818) 883-8600.
Our offices located at:
21700 Oxnard Street, Suite 1870, Woodland Hills, CA 91367