Archives for 2018

ValueXpress closed a $600,000 first-mortgage loan in conjunction with a $240,000 SBA 504 second-mortgage loan utilized to acquire and renovate a 3,000-square-foot former single-story residential property into office space. The property is located on the East Coast of Florida and a property appraisal … [Read more...] about ValueXpress Provides SBA 504 Loan for the Acquisition of an Office Building in Florida

ValueXpress obtained a $500,000 first-mortgage loan commitment from the SBA on May 28, 2010, just prior to the expiration of the stimulus program on May 31, 2010. “This was a classic case of the extra mile ValueXpress goes for its clients,” explained Michael D. Sneden, Executive Vice President of … [Read more...] about ValueXpress Obtains $500,000 SBA 7(a) Loan Commitment Prior to Expiration of Stimulus Funds

ValueXpress obtained a $1,720,000 first-mortgage loan that was utilized to refinance existing debt of $1,100,000 and $345,000 in equipment loans on a mixed-use property. The cash-out proceeds of $275,000 partially recovered the borrower’s substantial investment in property improvements. The property … [Read more...] about ValueXpress Obtains $1.72-Million Conventional Loan for a Mixed-Use Property Located in Brooklyn, NY

ValueXpress obtained a $3,150,000 first mortgage loan that was utilized to refinance a CMBS conduit loan set to mature in September. The Mississippi borrower is a long-time client of ValueXpress as the firm has provided ten CMBS conduit loans over a 10-year period. “We explained to the client that … [Read more...] about ValueXpress Obtains $3.15-Million Fannie Mae DUS Loan to Refinance a Maturing CMBS Conduit Loan

ValueXpress obtained a $1,650,000 first-mortgage loan to be utilized for the acquisition of a limited-service hotel located in southern Texas. The loan was co-originated with a ValueXpress partner bank located in Texas utilizing the SBA 7(a) loan guaranty program. The transaction was challenging … [Read more...] about ValueXpress Obtains $1.65-Million Loan for the Purchase and Reflagging of a Limited-Service Hotel in Texas

ValueXpress closed a $2,500,000 first mortgage loan consisting of $2 million to pay off of an existing $7.4-million loan at a discount and a $500,000-renovation holdback. The loan is secured by 8 KFC restaurants. The loan resulted in forgiveness of over $6 million in debt for the borrower. Although … [Read more...] about ValueXpress Provides $2.5-Million Loan for the Refinance of 8 KFC Restaurants at a Discount of over $6 Million

ValueXpress closed a $2,125,000 first mortgage loan in conjunction with a $1,335,000 SBA 504 second mortgage loan utilized to acquire a 70-room interior-corridor property located in central Minnesota. Constructed in 1995, the hotel is in excellent condition. The property draws primary demand from … [Read more...] about ValueXpress Provides SBA 504 Loan for the Acquisition of a Holiday Inn Express Limited Service Hotel

ValueXpress arranged a $1,720,000 first mortgage loan secured by a two-story mixed-use retail/residential building located in the Park Slope section of Brooklyn, New York.  The loan was closed by its New York-based banking partner, Country Bank, for its portfolio.  The property consists of an … [Read more...] about ValueXpress Closes Loan Secured by Mixed-Use Property in Brooklyn, NY

ValueXpress closed a $960,000 first mortgage loan secured by a Super 8 limited service hotel located in metropolitan Dayton, Ohio. The 25-year fixed-rate loan carries an interest rate in the 6% area and is full recourse. The loan was closed through the SBA 7(a) program. The property is a 60-room … [Read more...] about ValueXpress Closes an SBA 7(a) Loan Secured by a Super 8 Hotel