Michael D. Sneden, Executive Vice President at ValueXpress,completed his first CMBS transaction with Donaldson Lufkin Jenrette (now Credit Suisse) in 1993. It was secured by a 412-unit apartment complex in St. Louis, Missouri. So you can imagine Mike was looking forward to reading CMBS veteran Manus … [Read more...] about 8.26.19: The History of CMBS
Archives for August 2019
C-PACE (Commercial Property Assessed Clean Energy) is a means of financing energy efficiency upgrades, renewable energy installations and similar projects related to residential, commercial and industrial buildings. PACE programs pay for the capital costs of these green initiatives with repayment … [Read more...] about 8.22.19: Can CMBS Work with C-PACE?
Brookfield Property is developing a 700,000-square-foot regional mall in South Norwalk, Connecticut on West Avenue next to I-95. Construction is nearly complete and the property, called the SoNo Collection, is scheduled to open in October. The mall will be anchored by Bloomingdale’s and Nordstrom’s, … [Read more...] about 8.15.19: Malls Are Not Dead. A New Mall Rises in Connecticut!
ValueXpress has arranged a $3,250,000 CMBS conduit loan for the refinance of a Baymont Inn and Suites franchised hotel located in Mackinaw City, Michigan. The Baymont Inn and Suites – Mackinaw City is a 3-story, 77-room interior-corridor hotel constructed in 1997. The hotel is located … [Read more...] about ValueXpress Arranges $3,250,000 CMBS Conduit Loan for the Refinance of a Baymont Inn and Suites in Mackinaw City, MI
Some borrowers gripe that it is difficult to get funds from escrow/reserve accounts for a CMBS conduit loan. With simple planning, reimbursements from CMBS loan servicers can be painless. It is important to know the ground rules before you start the work that is eligible for reimbursement. Here is … [Read more...] about 8.29.19: Tips for Making Escrow Draws Simple for a CMBS Conduit Loan
An unexpected rapid decline in the 10-year Treasury and swap yield has driven down loan rates for CMBS conduit loans and other commercial loans tied to these indexes. The 10-year swap has declined an astounding 100 basis points (bp) since May and nearly 40 bp in the last three weeks. Analysts are … [Read more...] about 8.12.19: Lending Rates Fall Dramatically
CBRE notes that capitalization rates (cap rates) were broadly stable in the first half of 2019 in its recently published survey for income producing commercial real estate (retail, office, industrial, multifamily and hotel) as of June 30, 2019. Suburban multifamily cap rates tightened most across … [Read more...] about 8.8.19: CBRE Reports on Cap Rates at Mid-Year
While the so-called “retail apocalypse” is undeniably wreaking havoc in the shopping industry, not all physical retailers are floundering. Some retailers have big expansions in the works. Most of the retailers that are expanding are discounters, including dollar stores and chains full of random … [Read more...] about 8.1.19: Enough About Closures, Who Is Opening New Retail Stores?
ValueXpress has arranged a $13.8-million CMBS conduit loan for the refinance of two franchised hotels located in Indianapolis and Scottsburg, Indiana. The Hampton Inn – Scottsburg is a 4-story, 86-room hotel constructed in 2000. The hotel is located 80 miles south of Indianapolis and 30 miles … [Read more...] about ValueXpress Arranges $13,800,000 CMBS Conduit Loan for the Refinance of a Portfolio of Hotels Located in Indianapolis, IN