CMBS issuance in the first quarter fell 11% from a year earlier, according to Commercial Mortgage Alert. An estimated $20.4 billion of CMBS were issued in the first quarter of 2014, a decline from $22.9 billion a year ago. On an annualized basis, the pace of issuance is about $80 billion, less than … [Read more...] about 4.4.14: CMBS Origination Volume Slips in First Quarter
Archives for 2014
4.1.14: Trepp Reports Further Decline in Delinquency
The CMBS delinquency rate continued its impressive decline in March, marking the tenth consecutive month the rate has fallen, according to Trepp. The rate dropped 24 basis points (bp) over the course of the month, bringing the delinquency rate for U.S. commercial real estate loans in CMBS to 6.54%. … [Read more...] about 4.1.14: Trepp Reports Further Decline in Delinquency
3.26.14: Apartment Rents Climb as Vacancies Drop
Apartment landlords continued to push through hefty rent increases at the start of the year, although the pace of the rises was slightly weaker, according to the Wall Street Journal. Rental rates increased 0.6% during the first quarter, according to data from 79 U.S. metro areas that was released on … [Read more...] about 3.26.14: Apartment Rents Climb as Vacancies Drop
3.21.14: AAHOA Trade Show Featuring “Deal Central” an Enormous Success
The ValueXpress booth was bustling with activity on March 20-21, 2014 at the annual Asian American Hotel Owners Association (AAHOA) Trade Show in Philadelphia, Pennsylvania. Over 3,000 attendees visited the trade show held at the Pennsylvania Convention Center. “Again this year as last year, the top … [Read more...] about 3.21.14: AAHOA Trade Show Featuring “Deal Central” an Enormous Success
3.17.14: CMBS Prices Remain Firm; Market Stable
CMBS prices remained in a tight range during the last 30 days in which four CMBS deals priced. The benchmark long-term, super-senior bonds from the first issue, a $1-billion offering by Citigroup, Goldman Sachs, MC-Five Mile and Cantor Fitzgerald, priced on February 28 at 93 basis points (bp) over … [Read more...] about 3.17.14: CMBS Prices Remain Firm; Market Stable
3.12.14: SBA Approves Borrower-Friendly Rule Changes for 504 Loan Program
The Small Business Administration (SBA) has issued a rule that will eliminate the section of the SBA guide which limits project expenses eligible for 504 Loan Program financing to those incurred within nine months prior to receipt by SBA of a completed loan application. This change will permit … [Read more...] about 3.12.14: SBA Approves Borrower-Friendly Rule Changes for 504 Loan Program
3.7.14: More on CMBS Loan Quality
Investors in CMBS tend to focus on the top 10 loans in CMBS pools, as these loans tend to comprise in excess of 50% of the principal balance of a CMBS issue, and therefore, they would have the largest impact in the event of default. In general, though, the top 10 loans are higher quality and better … [Read more...] about 3.7.14: More on CMBS Loan Quality
3.3.14: NADCO Sees SBA 504 Refinances on Horizon
As it relates to the on-again/off-again SBA 504 refinance program, Claire O’Rourke, Director of Government Relations at the National Association of Development Companies (NADCO), indicated that lenders need to lobby their representatives. In a recent interview with Bob Coleman, editor of the Coleman … [Read more...] about 3.3.14: NADCO Sees SBA 504 Refinances on Horizon
2.26.14: Takeaways from CW Capital’s $3.2-Billion Troubled Loan Auction
The results of CW Capital’s $3.2-billion bulk sale of seriously troubled CMBS conduit loans began to filter through servicer reports, according to a research piece written by Jeffries. As of the February servicer reports, 77 loans from 12 fixed-rate CMBS conduit transactions had a current balance at … [Read more...] about 2.26.14: Takeaways from CW Capital’s $3.2-Billion Troubled Loan Auction
2.21.14: AAHOA Members: Bring P&L and STAR Report to Philly
ValueXpress will offer “on the spot” loan proposals to Asian American Hotel Owners Association (AAHOA) members attending the “Deal Connection” event and Trade Show at the AAHOA Annual Convention in Philadelphia on March 19-21, 2014. “Just bring your 2013 property income and expense statement and … [Read more...] about 2.21.14: AAHOA Members: Bring P&L and STAR Report to Philly