The successful CMBS offering by Goldman Sachs and Citigroup (see our 3.23.11 News Article) that priced on March 23rd marks the fifth multi-borrower deal completed in 2011. Combined issuance in the five deals totaled nearly $8 billion. With over 20 CMBS conduit shops having jumped into the resurgent … [Read more...] about 3.24.11: Competition Heats Up for CMBS Conduit Loans
Archives for 2011
3.23.11: Goldman Sachs/Citigroup Price CMBS Deal at Wider Spreads
Goldman Sachs and Citigroup priced a $1.4-billion CMBS transaction March 23; with the crisis in Japan and turmoil in Libya a significant widening in CMBS spreads occurred. With capital markets recovering some lost ground during the week, the transaction was able to clear the high end of price … [Read more...] about 3.23.11: Goldman Sachs/Citigroup Price CMBS Deal at Wider Spreads
3.17.11: ValueXpress Helps New Borrower Complete 7(a) Process
In February 2011, a borrower contacted ValueXpress explaining he wanted to purchase an existing retail business that operated as a home center in a 60,000-square-foot facility in Mississippi. The borrower, previously a general manager of a truck stop that comprised fuel and a convenience store, now … [Read more...] about 3.17.11: ValueXpress Helps New Borrower Complete 7(a) Process
3.9.11: Michael D. Sneden Returns to Westchester Business Council: “Learn How to Prepare a Business Loan Application”
The Business Council of Westchester County, N.Y. has announced that Michael D. Sneden, Executive Vice President at ValueXpress, will return as the keynote speaker at its Circles of Influence social networking event beginning at 4:30 p.m., March 31, at the Hilton Rye Town in Rye Brook, N.Y. Sneden’s … [Read more...] about 3.9.11: Michael D. Sneden Returns to Westchester Business Council: “Learn How to Prepare a Business Loan Application”
3.4.11: Trepp: CMBS Buyers’ Faith Rewarded as U.S. Delinquency Numbers Level Off
The faith that investors have shown in the legacy U.S. CMBS market over the last few months was validated on Wednesday when the Trepp Delinquency Report reported that the core delinquency rate for February had one of its smallest increases since the beginning of the credit crisis. In February, the … [Read more...] about 3.4.11: Trepp: CMBS Buyers’ Faith Rewarded as U.S. Delinquency Numbers Level Off
2.28.11: S&P: Larger CMBS Deals to Market after Period of Stagnation
Larger commercial mortgage-backed securities deals are starting to come back to the market just 15 months after a few smaller transactions priced following a period of dormancy, according to an S&P research note this week. The return of the market, referred to as CMBS 2.0, began in late 2009 … [Read more...] about 2.28.11: S&P: Larger CMBS Deals to Market after Period of Stagnation
2.23.11: What Obama’s Budget Means for the SBA
The Obama Administration seeks $818 billion for small-business programs, including the 7(a) program, in its 2012 budget that will begin in October 2011. This total is just over half of what it received for these programs in 2010, when the agency was flush with supplemental stimulus money to spur … [Read more...] about 2.23.11: What Obama’s Budget Means for the SBA
2.18.11: SBA 504 Refinancing Is Official!
The SBA's 504 refinancing program has finally been implemented. It gives owner-user commercial real estate owners with existing mortgage loans facing imminent loan maturity or balloon payments the opportunity to refinance with a government-guaranteed SBA 504 loan. Some of the program parameters are … [Read more...] about 2.18.11: SBA 504 Refinancing Is Official!
2.17.11: Morgan Stanley and CDC Direct Team Up
CDC Direct Capital has announced an SBA 504 Secondary Market solution with the Morgan Stanley SBA 504 First Mortgage Secondary Market Program. This program enables a bank to sell the entire first mortgage on any SBA 504 loan. Morgan Stanley is offering a 100% loan purchase program pertaining to the … [Read more...] about 2.17.11: Morgan Stanley and CDC Direct Team Up
2.10.11: CMBS Conduit Loan Origination in 2011 & Beyond: Report from the MBA CREF Convention
The prognosis for CMBS conduit loan origination in 2011 and beyond was discussed at this year’s MBA CREF convention by three of the most active originators of CMBS loans right now, Richard Schlenger of Citigroup, Roddy O’Neal of Goldman Sachs and Dennis Schuh of JPMorgan. In addition, Warren DeHaan … [Read more...] about 2.10.11: CMBS Conduit Loan Origination in 2011 & Beyond: Report from the MBA CREF Convention