Flexible office space operators are expanding at a rapid pace in New York City, mirroring trends across the United States. Flexible office space is a concept that allows small companies and/or individuals to share or rent workstations or small self-contained office units. The space is often rented … [Read more...] about 6.26.18: Flexible Office Space Firms Growing Exponentially in New York City
Archives for June 2018
6.22.18: ValueXpress Fixed-Fee CMBS Program Takes Off
A few months ago, ValueXpress introduced a “fixed cost” CMBS conduit loan option for loans between $1.5 million and $12 million. “We closed our first loan a few weeks ago and have another three loans in the closing process,” commented Michael Sneden, Executive Vice President at ValueXpress. “Clients … [Read more...] about 6.22.18: ValueXpress Fixed-Fee CMBS Program Takes Off
ValueXpress Arranges Rate Reduction for Hair Salon in Long Island, NY
ValueXpress has arranged an SBA 504 loan transaction to refinance a conventional owner-occupied real estate loan held by its affiliate, Country Bank. The existing $990,000 loan carries an interest rate in excess of 8% and will be refinanced with a new first mortgage from Country Bank in the mid-6% … [Read more...] about ValueXpress Arranges Rate Reduction for Hair Salon in Long Island, NY
6.15.18: Borrowers Seeing Improvements in CMBS Loan Servicing
A few years ago, the CRE Finance Council, a trade association for the commercial real estate finance industry, set up a task force to propose improvements to address long-running borrower complaints regarding the servicing of CMBS conduit loans. The formation of the task force resulted from concerns … [Read more...] about 6.15.18: Borrowers Seeing Improvements in CMBS Loan Servicing
6.12.18: Simon Wins Battle of the Outlet Mall in Suburban St. Louis
In 2013, Simon Property Group and Taubman Centers Inc. both built outlet center projects in Chesterfield, Missouri, which is in the St. Louis area. At the time, experts believed the trade area could support only one traditional outlet center, but neither company would back down from proceeding, … [Read more...] about 6.12.18: Simon Wins Battle of the Outlet Mall in Suburban St. Louis
6.8.18: CMBS Spreads Remain Steady
CMBS conduit loan borrowers are finding calm waters as spreads on CMBS securities have been stable at attractive levels for most of 2018. This has help offset the rise in the 10-year Swap rate, minimizing the impact on interest rates for CMBS conduit loan borrowers. The 10-year Swap rate, the … [Read more...] about 6.8.18: CMBS Spreads Remain Steady
6.4.18: Keep Contractor Work to a Minimum When Closing a CMBS Conduit Loan
We recently had to work through an issue on a relatively simple CMBS conduit loan. The transaction was a 50% loan-to-value (LTV) cash-out refinance of a small neighborhood shopping center that was 100% leased. One of the tenants that will occupy 24% of the space has a signed lease and is paying rent … [Read more...] about 6.4.18: Keep Contractor Work to a Minimum When Closing a CMBS Conduit Loan
