Unanchored neighborhood shopping centers used to be viewed as stepchildren to malls, food store-anchored shopping centers and big box shopping centers when it came to CMBS conduit loan financing. But internet shopping using Amazon and other retail websites has changed everything. Unanchored … [Read more...] about 4.24.19: Unanchored Neighborhood Shopping Centers Are Hot in CMBS Financing
Archives for April 2019
Mall owners Simon Property (NYSE: SPG) and Macerich Company (NYSE: MAC) continue to redevelop vacant department stores, creating substantial value for shareholders. In a recent earnings call, Simon reported that redevelopment activity is moving quickly, and in some cases, much quicker than … [Read more...] about 4.18.19: Mall Giants Continue to Redevelop Vacant Department Stores
Hotel properties located in cold climates or resort areas can have revenue that is seasonal. Most of the revenue is generated in three seasons of the year and little or no revenue is generated in the fourth season. But the mortgage payment is due every month. How does an owner prepare for mortgage … [Read more...] about 4.15.19: How Do Seasonality Reserves Work in CMBS?
CMBS conduit loans are underwritten based on the income generated from tenant leases less property operating expenses, usually the most recent 12 months’ actual expenses incurred. The calculation to determine expenses can become difficult for newly built and occupied properties. Why? There is no … [Read more...] about 4.10.19: When Can a CMBS Conduit Loan Close on a New Property?
Commercial and multifamily mortgage bankers closed a record $573.9 billion of loans in 2018, according to MBA's 2018 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation. Solid fundamentals, growing property values, low interest rates and strong appetites from both … [Read more...] about 4.4.19: Commercial and Multifamily Mortgage Bankers Close a Record $573.9 Billion of Loans in 2018!
ValueXpress has arranged a $4,500,000 CMBS conduit loan for the refinance of a 64-room Hampton Inn hotel located in Santa Rosa, New Mexico. The three-story hotel was constructed in 2008. The purpose for the loan was to convert an existing floating-rate SBA loan into a 10-year fixed rate loan at a … [Read more...] about ValueXpress Arranges $4,500,000 CMBS Conduit Loan for the Refinance of a Hampton Inn Hotel in Santa Rosa, NM
On April 25-26, 2019, ValueXpress will be exhibiting at the annual Asian American Hotel Owners (AAHOA) Trade Show in San Diego, CA. ValueXpress will be located in Booth 1844 at the San Diego Convention Center 11:00 a.m.-5:00 p.m. on Thursday, April 25 and 11:00 a.m.-5:00 p.m. on Friday, April … [Read more...] about 4.1.19: Meet with Jay Bhakta and the ValueXpress Team at the Annual AAHOA Convention & Trade Show in San Diego, CA – Booth 1844
Interest rates on CMBS conduit loans have decreased significantly in the last 30 days. Low leverage CMBS conduit loans (50%-60% LTV) are being quoted in the 4.25%-4.50% range, while full leverage (70%-75% LTV) loans are available at rates under 5.0%. Rates this low have not been available for a … [Read more...] about 3.26.19: Interest Rates Fall Substantially for CMBS Conduit Loans
Want to keep abreast of interest rates for CMBS conduit loans? Then visit our website each Monday for the latest rates. The rate sheet can be found on the homepage for valuexpress.com. Every Monday by noon we post a rate sheet with current interest rates for CMBS conduit loans. The rate sheet … [Read more...] about 3.20.19: Reminder: Indicative CMBS Conduit Loan Rates Are Posted on Our Website
ValueXpress has arranged a $3,250,000 CMBS conduit loan for the refinance of an 81-room Best Western Plus hotel. The sponsors purchased the hotel in September 2015 from the bank in an all-cash transaction. The property was originally constructed in 2011 and operated as a Candlewood Suites until … [Read more...] about ValueXpress Arranges $3,250,000 CMBS Conduit Loan for the Refinance of a Best Western Plus Hotel in Crawfordsville, IN