Salem Partners, LLC (“Salem”) is pleased to announce the closing of a $35 million horizontal construction loan on January 11th, 2024. The loan was structured between Salem’s client, Eisenhower Property Group (“EPG” or the “Company”) and a lending affiliate of two institutional investors (structured between a Los Angeles based real estate private equity investor and one of the largest and most prominent hedge funds in the world).

EPG hired Salem on an exclusive basis to structure, source and close credit financing for the purpose of refinancing existing debt and provide capital for horizontal land development at EPG’s Two Rivers East master planned community in Northeastern Tampa Bay, Florida...(read more). ​

We wish all our clients and friends a wonderful winter. Below we provide our investment outlook for 2024 and a review of markets in the 4th quarter of 2023. 

We were especially pleased by +26.3% total returns in 2023 for U.S. large cap equities. The highest bond yields in over 15 years bode well for future fixed income total returns, with investment grade municipal bonds paying out 6.5% to 8.5% taxable equivalent yields. +11.1% and +12.5% EPS growth is forecasted for 2024 and 2025, respectively, after S&P 500 earnings contracted in 4Q22, 1Q23, and 2Q23 i.e., the 2023 “corporate earnings recession” is behind us...(read more).