For Real Estate Professionals Seeking a Market Edge
More CMBS Loan Maturities on the Horizon
As we enter the final quarter of 2009, the commercial mortgage sector continues to face significant challenges. As CMBS loans continue to mature at an accelerated rate, there is currently no national strategy in place to alleviate the accompanying properties regardless of their performance and occupancy levels. The commercial loan market is off 90% and lenders continue to either maintain their position on the sidelines or apply a significantly conservative approach in their underwriting practices.
As a result of these and other challenges, the commercial mortgage market is in a position to throw another proverbial wrench into a domestic and global economy that continues to struggle. The private and public sectors are holding fast to their position of denial, which may in turn prolong the pain. Economists and financial professionals capable of proposing methods to deal competently and wisely with the ongoing challenges in the commercial mortgage market have yet to be recognized by lawmakers.
We will keep you posted…
Northern California Retail Refinance Loan
Penstar recently obtained a loan quote for the refinance of a 100% leased and occupied retail center in Northern California. The current loan has yet to balloon although the portfolio lender approached the borrower and offered a discount if the loan would be repaid prior to maturity. Although specific terms are confidential, Penstar obtained a loan quote to 65% of value, fixed for five years at 7.25% with a 30 year amortization schedule. For more information, please contact David Stepanchak at (818) 883-9611 or DStep@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
“A Duck Walks Into a Bar” “That's right,” responds the duck. “Can I have my beer and sandwich, please!” “Certainly;” says the bartender, continuing, “I'm sorry about that, it's just we don't get many ducks in this bar. What are you doing around this way?” “I'm working at the new high-rise building site across the road” explains the duck. The bartender says, “Hey, I reckon I can line you up with a top job, paying really good money!” “Yeah?” inquires the duck, “That sounds great, where is it?” “At the circus,” says the bartender. “The circus?” Appearing puzzled, the duck asks, “What the heck do they want with a plasterer?” |
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