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Show a the .ENTERPRISE! I People rates Interest inch I a f higher on commercial jobs r Mortgage rates for apartments and commercial projects inched up i.i February for the fourth straight month, Citicorp Real Estate, Ire. reported last week in its monthly survey of benchmark mort- K Sr: Sf c .: & ;- L. single category of construction and only a portion of its interest-rat- e range. But the total increase since October has been 14 percent for i'LV1 i-- l industrial projects, says Citi- ; f! enough to be measured last month. They increased 18 percent - from 9 14 9 12 percent to 9 38 - 9 58 percent. But there was also upward pressure, Kozloff said, on rates for projects secured by the credit of strong tenant companies. More commitments were issued at the top of their range and fewer in the lower end. (Credit-secure- d projects include shopping centers, office buildings or warehouses with leases to financially strong companies.) i3 i I "t i i i No Gibbs ry "Yates Industrial Park A FEW SELECT SITES AVAILABLE FOR LEASE NOW INCLUDING: -- -- . OFFICE - 9000 SQ. FT. CAN SUBDIVIDE INTO SMALLER SPACES. 10,000 FT. TOTAL - WITH City Crest 2. WAREHOUSESOFFICE opening 3. OFFICEDRAFTING ROOM - FOR ARCHITECTS, The $2 million condominium project at 131 First Avenue, under construction by Brent Hill, should be ready for occupancy by July 1. Hill and his Long Beach partner, Russell Mangum, are developing the seven story brick structure, and have already taken reservations and earnest money for 10 of the 30 units. The condominiums are being marketed for between $65,000 and $105,000. The development, originally called Hillcrest Condominiums, has changed its name to City Crest Condominiums. First Security Bank is financing the project. shortage The upward movement, Kozloff says, reflects the competition of the corporate bond market rather than any reduction in the supply of available funds. Life insurance company allotments for income mortgage investment arc the largest in several years and offset a cautious -- 1500 FT. OF OFFICE. ENGINEERS, ETC. LOADED WITH PRESTIGE HEART OF SLs COMMERCIAL AREA EXCELLENT FREEWAY ACCESS O j Yates Industrial Park 48-2- Sl 405 LAWNDALE DRIVE (2500 South) Salt Lake City, Utah 84115 ffifwiira w SKYHAWKS PILOT FLIGHT TRAINING Salt Lake City Phone 1980 West 3500 South 0 Ogden (Tanners) 2407 Washington Blvd. Phone 394-74- Provo 445 North 9th East Phone 374-62- 42 American Fork 139 E. Main Phone 756-29- 31 4 ;$ ! ft i' 14 i i 3 LU Skyhawks charter flights can put you Businesspeople, doctors, lawyers, all finding anywhere there is an airport and will engineers and students are save you money. out the fun and value of flying. Flight Training can teach you to So for flight instruction, charters, rentfly. We are a part of Utah's oldest and als and sales, see Skyhawk. largest Cessna Pilot Center. We have accident-free flyover 40,000 hours of We time. instruction Niijtoni, pride ing and ourselves on the quality of pilot we SALT LAKE AIRPORT 2 train. UTAH 84084 WEST Sky-haw- ks 972-890- Soon To Be In Engh Square Union Square Sandy Holladay 91 presi- dent of Bohen Construction Company, has been elected president of the Home Owners Warranty Corporation. The H.O.W. is an organization established to provide an insurance warranty to home buyers covering the quality of workmanship in new houses. well-rente- 2. -- Jcrrald K. Boone, Poltcno Citicorp Real Estate, Incs benchmark rate for mortgages on new apartments was 9 38 - 9 58 percent, up 18 percent from the 9 14 - 9 12 range that had prevailed for the previous three months. d Rates on existing apartments were 18 percent lower in some regions. The current benchmark shoprange for medium-size- d centers or ping speculative office buildings was 9 14-- 9 12, unchanged from last month but up from the 8 78 9 14 w'hich prevailed from April through October of last year. end-of-Februa- corp Real Estate, Inc. president Philip Kozloff. (Rates are typically quoted as ranges say, 9 14-91Sometimes only the bottom or the top of the range changes in a given month.) Only apartment mortgage rates showed a change large - Employees Credit Union, were reelected to the board. ts Benchmark rates loans and 14 - 38 percent for commercial and - - corres-sponden- Each of the four increases since last October has been small, often affecting only a fi - 11 lending posture among thrift institutions. The thrift institutions picture is mixed. Some institutions have informed they have made their last income mortgage commitment for 1978. But others are still aggressively pursuing loans. gage rates. , ,?;; Continued from page o O JORDAN, (801)566-167-5 (801)328-977- 4 |