Rates on 5-year CMBS conduit loans are higher than loans with a 10-year term, and the difference between the two appears to be increasing. Normally in commercial lending, when the 5-year Treasury or libor swap rate is lower than the 10-year Treasury or libor swap rate, loan rates on deals with a … [Read more...] about 5.14.12: Rates on 5-Year CMBS Conduit Loans Worse Than 10-Year Deals
Archives for 2012
5.7.12: Cash Management and CMBS Conduit Loans…Not Perfect Together: Part II
A recent post of ours outlined the insistence on cash management accounts for nearly all CMBS conduit loans. In summary, cash management accounts are set up for each transaction as a bank account in the name of both the borrower and the lender, but it’s primarily under the borrower’s control. … [Read more...] about 5.7.12: Cash Management and CMBS Conduit Loans…Not Perfect Together: Part II
5.4.12: Mahesh (Mike) Patel Wins iPad 2 Drawing at AAHOA Show
Hotel owner Mahesh (Mike) Patel won a new 32GB iPad 2 at the ValueXpress booth at the Asian-American Hotel Owners (AAHOA) Convention and Trade Show in Atlanta, GA last week. When we first called Mr. Patel and told him he’d won the iPad, he responded, “No, I already received the iPad that I won.” We … [Read more...] about 5.4.12: Mahesh (Mike) Patel Wins iPad 2 Drawing at AAHOA Show
5.1.12: Opportunities & Challenges for Portfolio Lenders and CMBS
On May 1st CRE Finance Council sponsored a seminar on the prospects for commercial real estate lending in the near and longer term. Panelists were a mix of CMBS conduit pros and insurance company lenders; they included Jon Martin from Wells Fargo, representing both a portfolio bank lender and CMBS … [Read more...] about 5.1.12: Opportunities & Challenges for Portfolio Lenders and CMBS
4.30.12: Cash Management and CMBS Conduit Loans…Not Perfect Together
One of the more burdensome structural features of CMBS 2.0 (post-2010 CMBS conduit loans) has been the insistence of cash management accounts for nearly all CMBS conduit loans. In summary, cash management accounts are set up for each transaction as a bank account in the name of both the borrower and … [Read more...] about 4.30.12: Cash Management and CMBS Conduit Loans…Not Perfect Together
4.23.12: ValueXpress Exhibiting at AAHOA Trade Show in Atlanta, GA
ValueXpress will be exhibiting at the annual Asian American Hotel Owners (AAHOA) Trade Show in Atlanta, GA, May 3-4, 2012. ValueXpress will be located in booth 739 at the Georgia World Congress Center noon-6:00 p.m. on both Thursday, May 3 and Friday, May 4. “ValueXpress is an Allied Member of AAHOA … [Read more...] about 4.23.12: ValueXpress Exhibiting at AAHOA Trade Show in Atlanta, GA
4.19.12: Lending Rebound Bolstering CMBS Pipeline
According to Commercial Mortgage Alert (CMA), commercial MBS issuance is picking up steam. After a slow first quarter, volume is now on track to reach $20 billion by midyear. That would surpass the $17.1 billion of activity in last year’s first half and put the sector on pace to exceed the … [Read more...] about 4.19.12: Lending Rebound Bolstering CMBS Pipeline
4.16.12: AAHOA Heads to Washington, D.C. in Support of SBA Program Extensions
Asian American Hotel Owners (AAHOA) leaders met with members of Congress to discuss two legislative priorities. In recent months, discussions in Washington, D.C. have centered on eliminating the SBA 504 Loan Refinancing Program, which is scheduled to expire in September. AAHOA has asked Congress to … [Read more...] about 4.16.12: AAHOA Heads to Washington, D.C. in Support of SBA Program Extensions
4.6.12: After Slow Quarter, CMBS Volume Should Pick Up
CMBS issuance in the United States got off to a slow start in the first quarter, but activity is expected to step up in coming months, according to Commercial Mortgage Alert. Only $6 billion of CMBS priced January-March, down 32% from a year earlier and virtually flat with fourth-quarter 2011. The … [Read more...] about 4.6.12: After Slow Quarter, CMBS Volume Should Pick Up
4.3.12: What’s the Direction of Debt Yield on CMBS 2.0 Issues?
Since the restart of the CMBS market in June 2010 when JPMorgan issued $716 million of CMBS, market participants have focused on a metric called debt yield. Debt yield is the property net cash flow (generally defined as actual income and expenses including management fees less capital reserves … [Read more...] about 4.3.12: What’s the Direction of Debt Yield on CMBS 2.0 Issues?