In the United States, the use and possession of cannabis is illegal under federal law. At the state level, however, policies regarding medical and recreational use of cannabis vary greatly, and in many states, policies conflict significantly with federal law. The medical use of cannabis is legal … [Read more...] about 5.27.19: Are Cannabis Tenants Allowed in CMBS Loans?
Archives for May 2019
Investors abandoned risky assets after rising U.S.-China trade tensions quashed expectations of a near-term resolution, feeding concerns about economic growth and corporate earnings prospects. U.S. Treasury prices climbed amid a flight to quality, sending the yield on the benchmark 10-year note … [Read more...] about 5.23.19: 10-Year Treasury Yield Hits 18-Month Low
Once in a while, an individual who provided a Guaranty for non-recourse carveouts related to a CMBS conduit loan passes away. What happens? CMBS loan documents provide for this event. The Loan Agreement says the Borrower is to give Lender notice to substitute a replacement Guarantor (“Replacement … [Read more...] about 5.17.19: What Happens When a Non-Recourse Carveout Guarantor Dies?
ValueXpress has arranged a $5,000,000 CMBS conduit loan for the refinance of Dover Downs Shopping Center, a 95,717-square-foot power center located at 1165 North DuPont Highway (Route 13) in Dover, Delaware. Route 13 is the primary retail/commercial corridor serving Dover, the second-largest city in … [Read more...] about ValueXpress Obtains $5-Million CMBS Conduit Loan for a Retail Power Center in Dover, DE for Client of CCTG Grad
The spread on the super-senior AAA-rated class of CMBS fell to its lowest level in almost eight months, according to Commercial Mortgage Alert. The result reflects pent-up demand due to sagging CMBS issuance so far this year. Goldman Sachs and Citigroup yesterday placed the long-term, … [Read more...] about 5.13.19: Key CMBS Spread Hits 8-Month Low
The teardown of Euclid Square Mall in Euclid, Ohio, at the center of a roughly 70-acre site, began a new chapter for this failed mall. The dead mall will be replaced by an Amazon fulfillment center, scheduled to open in summer 2019. Amazon paid more than $7 million for Euclid Square Mall and the … [Read more...] about 5.10.19: How Is Amazon a Solution for Failed Malls?
The SBA 7(a) loan guarantee program allows commercial banks to make loans on owner-occupied commercial real estate that would otherwise be considered too risky. Hotels are considered particularly risky by many commercial banks. Most limited service hotels are owner-operated and qualify for SBA … [Read more...] about 5.7.19: ValueXpress Refinancing SBA 7(a) Hotel Loans with CMBS Loans
ValueXpress has arranged a $6.2-million CMBS conduit loan for the refinance of a 114-room Holiday Inn Express and Suites located in Orange City, Florida. The property is a four-story hotel constructed in 2003 and renovated in 2013. The loan provided cash out to the borrower for a future Property … [Read more...] about ValueXpress Arranges $6,200,000 CMBS Loan for the Refinance of a 114-Room Holiday Inn Express in Orange City, FL
ValueXpress has arranged a $15-million CMBS conduit loan for the refinance of a 1-million-square-foot warehouse and light manufacturing industrial park located in Ambridge, PA, 15 miles north of Pittsburgh. The property features 22 buildings that were constructed in stages between 1920 and 1968. In … [Read more...] about ValueXpress Obtains $15-Million CMBS Conduit Loan for the Refinance of the Ambridge Regional Distribution & Manufacturing Center in Ambridge (Pittsburgh), PA
Attended by more than 8,000 Asian American hoteliers ready to lock in long-term, fixed-rate hotel loans before interest rates head upward, the annual Asian American Hotel Owners (AAHOA) Trade Show in San Diego, California, was a huge success, according to Michael D. Sneden, Executive Vice President … [Read more...] about 5.1.19: AAHOA Trade Show in San Diego, CA a Huge Success