While all CMBS loans are non-recourse, there is a caveat. Nearly all non-recourse commercial real estate loans have provisions whereby if the individual(s) who own the property (known as the “sponsors”) commit what is referred to in the lending industry as “bad person acts,” then the loan can be … [Read more...] about 11.6.18: What Are Non-Recourse Carve-outs?
Archives for November 2018
ValueXpress Lines Up CMBS Conduit Deal for Client of 15 Years
ValueXpress has arranged a CMBS conduit loan secured by a portfolio of two hotels, the Econolodge - Ithaca and the Country Inn and Suites - Ithaca, both located in Ithaca, New York. The properties are owned by Jay Bramhandkar. "The transaction was nothing unusual, as it represents just 1 of the 250 … [Read more...] about ValueXpress Lines Up CMBS Conduit Deal for Client of 15 Years
ValueXpress Obtains $4.7-Million CMBS Conduit Loan to Refi a $2.5-Million SBA 7(a) It Originated in 2010
ValueXpress obtained a $4.7-million CMBS conduit loan to refinance a $2.5-million SBA 7(a) loan it had originated in 2012, providing nearly $2 million in cash-out proceeds to the owner. The property is a 2-story, 64-room limited-service franchised hotel located in Houston, Texas operating under … [Read more...] about ValueXpress Obtains $4.7-Million CMBS Conduit Loan to Refi a $2.5-Million SBA 7(a) It Originated in 2010
ValueXpress Obtains $2.685-Million SBA 7(a) Loan Commitment for a LaQuinta Inn & Suites Hotel in Walker, LA
ValueXpress obtained a $2.685-million SBA 7(a) first-mortgage loan commitment with its banking partner, Fidelity Bank, for a 3-story, 65-room limited-service franchised hotel located in Walker, Louisiana. The hotel is situated in the Denham Springs region of eastern Louisiana; this small community … [Read more...] about ValueXpress Obtains $2.685-Million SBA 7(a) Loan Commitment for a LaQuinta Inn & Suites Hotel in Walker, LA
ValueXpress Originates $200 Million of CMBS Conduit Loans in 2013
ValueXpress originated $200 million of CMBS conduit loans in 2013. The loans were secured by multifamily, retail, office, self-storage and hospitality properties. The loans were included in nine CMBS issues sold in 2013 with a total principal balance in excess of $10 billion. Approximately 50% of … [Read more...] about ValueXpress Originates $200 Million of CMBS Conduit Loans in 2013
ValueXpress Obtains a $7.5-Million Bridge Loan for a 94-Room Hampton Inn and Suites located in the Dallas-Fort Worth Metroplex
ValueXpress obtained a $7.5-million bridge loan for the refinance of a construction loan that was utilized to build a 94-room Hampton Inn hotel that opened in April 2013. The property is a four-story interior-corridor structure with a stone and stucco veneer exterior. Amenities include a meeting … [Read more...] about ValueXpress Obtains a $7.5-Million Bridge Loan for a 94-Room Hampton Inn and Suites located in the Dallas-Fort Worth Metroplex
ValueXpress Obtains $5-Million SBA 7(a) Loan Commitment for an Independent Limited Service Hotel in Brooklyn, NY
ValueXpress obtained a $5-million first-mortgage loan commitment with its New York banking partner, Country Bank, from the SBA for an independent hotel located in Brooklyn, N.Y. The loan will refinance a $5-million construction loan that was utilized to construct a 58-room limited-service hotel in … [Read more...] about ValueXpress Obtains $5-Million SBA 7(a) Loan Commitment for an Independent Limited Service Hotel in Brooklyn, NY