While the recent rise in the Swap rate indexes used to set interest rates for CMBS conduit loans has slowed rate-sensitive borrowers from closing loans, the rise has not deterred borrowers who use the CMBS conduit loan as a tool to extract excess equity in their real estate assets. “Whenever I … [Read more...] about 6.26.15: The Power of Unrestricted Cash Out and Non-Recourse Keeps CMBS Conduit Lending Active
Archives for June 2015
6.22.15: Michael Sneden Discusses Commercial Capital Training Group at NACLB Convention
Michael D. Sneden, Executive Vice President at ValueXpress, was interviewed by Commercial Capital Training Group (CCTG) at the National Association of Commercial Loan Brokers annual convention at the Red Rock resort in Las Vegas, Nevada. Here’s what Mike has to say about CCTG and the convention: … [Read more...] about 6.22.15: Michael Sneden Discusses Commercial Capital Training Group at NACLB Convention
6.17.15: JPMorgan Preps Clients for Direction of Interest Rates
Recently, JPMorgan sent a notice to its clients that did not mince words regarding its thoughts on the direction of interest rates: As the U.S. economy continues its expansion, we believe that U.S. interest rates will begin to rise. Many important indicators have shown notable strength of late, … [Read more...] about 6.17.15: JPMorgan Preps Clients for Direction of Interest Rates
6.12.15: 10-Year Swap Rate (Swap) Index Breaks 2.5%; Borrowers Distressed
After trading in a range of 1.85%-2.25% since January 2015, the 10-year Swap Rate began a steady ascent in May that accelerated in June. The first week of June saw the 10-year Swap Rate rise from 2.23% on Monday to 2.48% on Friday, leaving borrowers shell-shocked. The market worsened the week of … [Read more...] about 6.12.15: 10-Year Swap Rate (Swap) Index Breaks 2.5%; Borrowers Distressed
6.11.15: Meanwhile, CMBS Prices Begin to Weaken, Borrower Spreads to Widen
Two CMBS conduit deals were being marketed during the week of June 8, a $1.3-billion offering by Deutsche Bank, CCRE, Ladder Capital and KeyBank, and a $1.2-billion offering by Wells Fargo, Rialto Mortgage Finance, Silverpeak Real Estate Finance, Walker & Dunlop and NCB. Price guidance on the … [Read more...] about 6.11.15: Meanwhile, CMBS Prices Begin to Weaken, Borrower Spreads to Widen
6.8.15: Two Self-Storage Titans Plan to Merge
SmartStop Self Storage Inc. has entered into a definitive merger agreement under which it will be acquired by Extra Space Storage Inc. The merger is expected to close during the latter half of 2015. SmartStop stockholders will receive $13.75 per share in cash, which represents a total purchase price … [Read more...] about 6.8.15: Two Self-Storage Titans Plan to Merge
