ValueXpress closed a $1,750,000 first mortgage loan and a $1,400,000 SBA 504 second mortgage loan secured by two industrial properties located in Brooklyn, New York. Gary Unkel, who originated the loan on behalf of a long-time client, commented, “The company needed additional warehouse and office … [Read more...] about ValueXpress Provides SBA 504 Loan for Brooklyn-Based Clothing Exporter
Archives for July 2018
So Bob studied his city -- Nashville -- and found no one catered to the small business storage segment of the market…no one. So he studied and developed prototypes in his head. The smallest units would be 10’x20’ (200 square feet; sf) with a mix of units up to around 1,000 sf. He thought of all the … [Read more...] about 7.31.18: ValueXpress Client Successfully Fills Small Business Operational Need. . . Cont’d
ValueXpress provided a $2,200,000 loan secured by a 37-unit garden apartment complex located in Pascagoula, Mississippi. The property was constructed in 1978 with the first floor and portions of the second floor gut renovated in 2007 after the building suffered extensive damage as a result of … [Read more...] about ValueXpress Provides $2,200,000 Fannie Mae Small Balance Loan
Secondary industrial markets are displaying demographic expansion, profitable lease rates and availability of developable land that has resulted in greater growth than primary markets, according to a recent report from Colliers International. Cincinnati, Indianapolis, St. Louis and the Lehigh Valley … [Read more...] about 7.24.18: Industrial in Secondary Markets Is Strong
Special servicers of CMBS conduit loans are increasingly considering discounted pay-offs as a solution to problem CMBS conduit loans. “CMBS loan disposition and modification decisions for CMBS conduit loans have historically been in the hands of special servicers,” explained Michael Sneden, … [Read more...] about Discounted CMBS Pay-Offs Increasingly Part of Servicer Recovery Strategy
The SBA 7(a) program is helping limited-service hotel owners refinance their maturing CMBS conduit loans. “I have seen an unbelievable surge in hotel loan requests from new and existing CMBS conduit loan clients,” comments a surprised Jay Bhakta, a ValueXpress loan originator. “Their CMBS loans are … [Read more...] about SBA 7(a) Program Helping Hoteliers Refinance Limited-Service Hotel Loans
In April 2018, the Federal Reserve released a new U.S. benchmark rate called the Secured Overnight Financing Rate, or SOFR. The SOFR is a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities. Over the past 30 days, the SOFR has generally ranged between 1.90% … [Read more...] about 7.20.18: What Will Replace the LIBOR Index?
CMBS participants foresee relatively flat prices for CMBS securities for the second half of 2018. This would be good news for CMBS borrowers as “re-trading” of CMBS loan spreads to borrowers would remain muted if CMBS prices remain stable. Re-trading occurs when spreads on CMBS securities rise … [Read more...] about 7.16.18: Industry Veterans See Stable CMBS Conduit Loan Spreads for Balance of 2018
Earlier this spring, Kroll Bond Rating Agency assigned preliminary ratings to a commercial real estate “collateralized loan obligation,” or CLO, that LoanCore Capital Markets was taking to the market. The CLO was backed by $1.1 billion in first mortgages secured by a mix of 33 properties. The … [Read more...] about 7.10.18: Collateralized Loan Obligations Make a Comeback!
On August 7, 2018, ValueXpress will be exhibiting at the Asian American Hotel Owners (AAHOA) Regional Trade Show in Long Island, New York. ValueXpress will be exhibiting at Atlantis Banquet & Events, 431 East Main Street, Riverhead, New York, 3:00 p.m.-6:00 p.m. ValueXpress will be joining AAHOA … [Read more...] about 7.6.18: Meet with Dennis Suh and Mike Sneden at the Regional AAHOA Conference and Trade Show in Long Island, NY on August 7