Kroll Bond Rating Agency (KBRA) has created a monthly index to track CMBS loans that it believes are at risk of default. The index tracks not only loans that are already delinquent or in default, but more important, loans that face a high risk of default in the future. These loans, known as … [Read more...] about 4.24.18: Kroll to Track CMBS “Loans of Concern”
Archives for 2018
4.18.18: Westside Pavilion in Los Angeles to Be Repositioned
U.S. mall owner Macerich and office developer Hudson Pacific Properties are redeveloping the Westside Pavilion mall in Los Angeles into a campus featuring 500,000 square feet of office space, according to the firms. Approximately 100,000 square feet of the 600,000-square-foot property will be … [Read more...] about 4.18.18: Westside Pavilion in Los Angeles to Be Repositioned
4.13.18: How Interest-Only Can Solve DSCR Constraints on a CMBS Loan
Cap rates for income-producing properties have fallen to 5% or below in many primary markets, including New York, Los Angeles and San Francisco. As a result, borrowers seeking 75% Loan-to-Value (LTV) loans are finding that loan proceeds are constrained below 75% because the property cash flow does … [Read more...] about 4.13.18: How Interest-Only Can Solve DSCR Constraints on a CMBS Loan
4.11.18: A Quick Test to Determine Hotel Eligibility for a CMBS Conduit Loan
Often a borrower wants a quick answer on whether a hotel is eligible for a CMBS conduit loan without providing much information. A way to make a quick assessment is to look at TripAdvisor reviews. But before that, the first step in making an assessment is to “google” the address and look at the … [Read more...] about 4.11.18: A Quick Test to Determine Hotel Eligibility for a CMBS Conduit Loan
ValueXpress Obtains $5.7-Million CMBS Conduit Loan for a 240-Unit Apartment Complex in Houston, TX
ValueXpress obtained a $5.7-million first-mortgage loan that was utilized to refinance Sago Palms Apartments, a 240-unit apartment community located in Houston, Texas. The complex was built in 1980 and was over 90% occupied at loan closing. The property is located in north Houston, in proximity to … [Read more...] about ValueXpress Obtains $5.7-Million CMBS Conduit Loan for a 240-Unit Apartment Complex in Houston, TX
4.7.18: Washington Prime Group and Namdar Realty Look to Save Bon-Ton from Liquidation
U.S. mall owners Washington Prime Group and Namdar Realty Group will bid together to save department store chain Bon-Ton from liquidation, according to court documents filed Monday. It was reported that the two landlords would attempt to acquire the embattled retailer out of bankruptcy. Bon-Ton, … [Read more...] about 4.7.18: Washington Prime Group and Namdar Realty Look to Save Bon-Ton from Liquidation
ValueXpress Arranges $3.2-Million CMBS Conduit Loan for the Refinance of a 55-Room Best Western Hotel in Lake Charles, LA
ValueXpress has arranged a $3.2-million CMBS conduit loan for the refinance of the Best Western Bayou Inn & Suites hotel that was constructed in 2000. The two-story property is located off Interstate 10 at Exit 33 in Lake Charles, Louisiana. Lake Charles has grown with the onset of the … [Read more...] about ValueXpress Arranges $3.2-Million CMBS Conduit Loan for the Refinance of a 55-Room Best Western Hotel in Lake Charles, LA
3.30.18: AAHOA Trade Show in National Harbor, MD a Huge Success
On March 28-29, 2018, ValueXpress exhibited at the annual Asian American Hotel Owners (AAHOA) Trade Show held in National Harbor, MD. The trade show was attended by more than 5,000 Asian American hoteliers ready to lock in long-term, fixed-rate hotel loans before interest rates head further … [Read more...] about 3.30.18: AAHOA Trade Show in National Harbor, MD a Huge Success
3.28.18: Trepp: CMBS Delinquency Rate Rises Modestly for First Time Since June
The Trepp CMBS delinquency rate rose modestly in March. This is the first time the rate has ticked up since June 2017. The delinquency rate for U.S. commercial real estate loans in CMBS is now 4.55%, up 4 basis points (bp) from the February level, which was the lowest reading since September 2016. … [Read more...] about 3.28.18: Trepp: CMBS Delinquency Rate Rises Modestly for First Time Since June
3.20.18: Rents for Apartment in NYC Poised to Decline
Beleaguered renters in New York City may begin to see some relief to rising rents as the year progresses. Market analysts are watching rents plateau and developers increasing incentives to lure tenants into all the new properties that are completed and now leasing. Market participants are … [Read more...] about 3.20.18: Rents for Apartment in NYC Poised to Decline