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
Archives for 2018
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
5.27.18: ValueXpress-Sponsored Team Wins Cricket Tournament
PanAm A defeated Houston A by 21 runs in the 2018 Bhakta Invitational Cricket Tournament held in Dallas, Texas on May 24-27. ValueXpress sponsored PanAm A and was a tournament sponsor. ValueXpress has sponsored PanAm A, which also won the tournament in 2015, for many years. Team PanAm A (note … [Read more...] about 5.27.18: ValueXpress-Sponsored Team Wins Cricket Tournament
5.25.18: Dry Cleaners Can Be an Environmental Concern in CMBS
Over the years, environmental issues requiring mitigation before a CMBS conduit loan can close have declined. However, one issue related to dry cleaners still surfaces from time to time. Properties identified as having a current or former dry cleaner that performs or historically performed “on-site” … [Read more...] about 5.25.18: Dry Cleaners Can Be an Environmental Concern in CMBS
5.21.18: ICSC RECon Takeaway: Malls Will Continue to Shutter and Evolve
Concerns linger regarding the fate of malls in the United States, even as the sentiment among retail real estate professionals remained upbeat at this year’s ICSC RECon, held at the Las Vegas Convention Center in Las Vegas, Nevada. America’s nearly 1,200 malls will likely be reduced to 600, … [Read more...] about 5.21.18: ICSC RECon Takeaway: Malls Will Continue to Shutter and Evolve
5.14.18: Role of Insurance Companies in Commercial Real Estate Financing
Sam Davis, a partner at Camden Consulting Group, recently wrote about the role of insurance companies in commercial real estate finance for the Mortgage Bankers of America. Here is what Davis has to say: Through decades of experience, including many market cycles, insurers have developed loan … [Read more...] about 5.14.18: Role of Insurance Companies in Commercial Real Estate Financing
4.27.18: CMBS Remains Best Solution for Retail Loans
Struggling retailers have lenders reassessing the risk of retail loans. Over the past two years, poor retail sales have resulted in a slew of store closures and bankruptcies. It seems that not a month goes by without more bad news, most recently the closing of the Bon-Ton department store chain, … [Read more...] about 4.27.18: CMBS Remains Best Solution for Retail Loans