Bob Taylor, a 15-year veteran in commercial real estate lending, has joined ValueXpress effective July 1. Bob will be primarily responsible for commercial loan originations in the western portion of the United States. Bob will be based in Salt Lake City, Utah. “Bob brings an outstanding breadth of … [Read more...] about 6.30.13: Bob Taylor Joins ValueXpress
Archives for 2013
6.26.13: Prudential’s Lillard Says Buy CMBS as Bonds Overreacted
Prudential Financial Inc.’s Michael Lillard said investors should buy commercial mortgage-backed securities and other bonds that fell on concerns the U.S. Federal Reserve will slow its pace of debt purchases. The increase in yield provided by CMBS, emerging-market debt, high-yield bonds and bank … [Read more...] about 6.26.13: Prudential’s Lillard Says Buy CMBS as Bonds Overreacted
6.24.13: CMBS Borrowers Shell Shocked over Rapid Rise in Rates
Borrowers are struggling to come to grips with what happened to CMBS loan rates over just a few days since Ben Bernanke spoke at a press conference on Wednesday, June 19. The 10-year Swap Rate (Swap) Index used to set CMBS conduit rates was at 2.37% that day, already reflecting an increase from just … [Read more...] about 6.24.13: CMBS Borrowers Shell Shocked over Rapid Rise in Rates
6.14.13: CMBS Shops Challenged to Hold Spreads in Tough Market
CMBS conduit loan interest rates, typically set at closing, are based on two numbers added together: the 10-year Swap Rate (Swap) Index and the “Spread” (an amount added to the Swap based on current CMBS bond prices and a profit margin). CMBS conduit loan borrowers are facing a double hit on … [Read more...] about 6.14.13: CMBS Shops Challenged to Hold Spreads in Tough Market
6.11.13: 8th Annual SAHOA Golf Tournament and Trade Show Big Success
On Wednesday, May 29, 2013 ValueXpress was among the sponsors for the 8th Annual San Antonio Hotel Owners Association Golf Tournament at the Hyatt Hill Country Golf Club in San Antonio, TX. 130 golfers took to the links under threatening skies (but thankfully the rain held off) to compete … [Read more...] about 6.11.13: 8th Annual SAHOA Golf Tournament and Trade Show Big Success
6.4.13: CMBS Lenders Offering Bridge Loans for Construction/Renovation/Repositioning
CMBS shops are using all their know-how in structuring fixed-rate CMBS conduit loans and applying this to bridge loans to capture attractive short-term investment yields and secure an opportunity to provide a fixed-rate CMBS conduit loan once the construction/renovation/repositioning period is … [Read more...] about 6.4.13: CMBS Lenders Offering Bridge Loans for Construction/Renovation/Repositioning
5.31.13: Swaps Widen Based on Bernanke Comments
The 10-year Swap Rate (Swap), the index used to set the interest rate for CMBS conduit loans, recently widened and is now above its 2013 range. For most of 2013 to date, the Swap has traded within a range of 1.80%-2.10%, but the Swap closed at 2.17% on May 27, the highest level so far this year. … [Read more...] about 5.31.13: Swaps Widen Based on Bernanke Comments
5.27.13: Single-Borrower CMBS Transactions in Vogue Despite Rating Agency Disagreement
Issuance of single-borrower CMBS deals so far this year has reached $12.1 billion, more than the $10.1 billion issued in all of 2012, according to data from Commercial Mortgage Alert. Assisting in the rise of the single-loan asset securitization market, say investors and analysts, is a tweak in how … [Read more...] about 5.27.13: Single-Borrower CMBS Transactions in Vogue Despite Rating Agency Disagreement
5.22.13: Fannie Mae and Conduit Rates Converging for Multifamily
With Fannie Mae’s recent 10-basis-point increase in fees it charges lenders to guarantee loans and the continued decline in CMBS conduit rates, the rate gap between the two multifamily products is diminishing, particularly for smaller balance (under $10 million) loans on “B” quality multifamily … [Read more...] about 5.22.13: Fannie Mae and Conduit Rates Converging for Multifamily
5.17.13: A ValueXpress Trademark – The Weekly Conference Call
A signature of ValueXpress CMBS conduit deals is the weekly conference call. At the beginning of each transaction, a working party list including borrower and borrower’s counsel and lender’s counsel and lender’s underwriting team is distributed and a set weekly conference call is scheduled. The … [Read more...] about 5.17.13: A ValueXpress Trademark – The Weekly Conference Call