For Real Estate Professionals Seeking a Market Edge
Gold Still on the Rise
Gold rallied to an intraday record Tuesday as the dollar weakened and investors remained concerned about the threat of inflation. The gold market has been supported by speculation that the weak dollar will continue to depreciate as the U.S. budget deficit swells, and investors flock to higher yielding currencies. The strength of the dollar eroded by 0.3% versus the euro to $1.4830; and was steady against the pound at $1.58.
The dollar index, a measurement against several global currencies, has tumbled approximately 14% from its March high. Gold is also being driven higher by the assumption that inflation will become a problem in the near future. While inflation is currently tame, many traders said consumer prices could spike if U.S. policy makers are slow to reverse monetary and fiscal stimulus measures as the economy recovers.
We will keep you posted…
$6,750,000 Retail Loan Quote
This week Penstar secured a qualified loan quote for a 2-tenant retail property in Southern California at $750 per square foot. The borrower, who has a 20-year ownership history of the property, is seeking a cash-out refinance for other commercial investments. The lender provided a loan quote of $6,750.000, allowing $3,350,000 in a return of equity back to the borrower. The borrower will have four fixed rate options to choose from: a 3-year term at 6.25%; a 5-year term at 6.5%; a 7-year term at 6.75%; or a term of 10 years at 7.25%. Each option balloons at the end of the fixed rate term. The loan is full recourse to the borrower and carries a 30-year amortization. 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
“Silk Pajamas” A week later, upon his return, she asks, “Did you have a good trip, dear?” “It was just a typical business trip, you know, work, work, and more work!” he exclaimed; adding, “You forgot to pack my silk pajamas.” “No I did not“ his wife replied. “I put them in your briefcase!“ |
30
Day Libor |
10-Year
Treasury |
Prime |
0.32% |
3.74% |
3.25% |
Penstar Realty Advisors can be reached at (818) 883-9600.
Our offices located at:
21700 Oxnard Street, Suite 1870, Woodland Hills, CA 91367