ValueXpress completed 30 CMBS conduit loan transactions in 2013 with a principal balance of over $200 million. Average loan size approximated $7 million. Hospitality loans were most prevalent, but transactions were completed for every CMBS conduit loan asset class — multifamily, retail, office, self-storage and hospitality.
“2013 was a fairly typical year for ValueXpress,” commented Michael D. Sneden, Executive Vice President of ValueXpress. “In periods of market stability, our originations are typically in the $200-million area, with average loan size of about $5 million, closing three to four loans a month. We continue to successfully focus on the small balance ($3-$15 million) market to lend our expertise to borrowers and intermediaries who are not terribly experienced in the CMBS conduit loan origination process.”
“We expect 2014 to be more of the same: $200-million plus in originations, mostly refinancing of maturing loans or cash-out refinancing of existing loans,” noted Gary Unkel, Senior Originator at ValueXpress. “The large pool of maturing CMBS conduit loans in 2014 will provide an opportunity to refinance those loans into another CMBS conduit loan.”
“In 2014, we also expect to increase CMBS conduit loan originations from the graduates of Commercial Capital Training Group (CCTG), in which ValueXpress is the preferred CMBS conduit loan partner,” commented Sneden, an educator at the school. “The school graduated over 100 professionals in 2013 who are now pounding the pavement for CMBS conduit loans for ValueXpress to process.”