We wish all our clients and friends a wonderful summer! Below we provide our outlook for the balance of the year and a review of markets in the 2nd quarter of 2023. 

GOOD NEWS: We are pleased to report very positive equities returns and the most attractive investment grade bond yields in over 15 years. Inflation fell to 3% in June 2023 after peaking at 9% in June 2022, and forward earnings estimates have stopped falling and are now rising. It’s too early for the Fed to declare “mission accomplished” on inflation, but it’s not too early for investors to anticipate it...(read more). 

Salem Partners, LLC (“Salem”) is pleased to announce the successful closing of a $50 million corporate and construction loan on July 10th, 2022. The loan was structured between Salem’s client, Eisenhower Property Group (“EPG” or the “Company”) and a private credit fund that has a specialty and focus on residential land investing.
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EPG hired Salem on an exclusive basis to structure, source and close a bespoke credit financing that gave a lender significant collateral and security, while yielding EPG the proceeds and flexibility it needed to effectively run its business. Proceeds of the loan were used to refinance existing debt and provide capital for horizontal land development across various parcels within the Company’s Two Rivers master planned community in Northeastern Tampa Bay, Florida...(read more)