Spreads on CMBS securities declined in June, positively impacting CMBS conduit loan rates. The benchmark AAA-rated super-senior CMBS closed the month at 115 basis points (bp) over swaps, down from 145 bp over swaps on June 1. Super-senior AAA-rated CMBS spreads peaked in March during the height of … [Read more...] about 6.30.20: CMBS LOAN RATES CONTINUE TO DECLINE AS CMBS SPREADS RALLY
Archives for June 2020
6.23.20: INDOOR MALLS REOPEN IN NEW JERSEY
Indoor portions of shopping malls in New Jersey are open again with strict guidelines, but don't expect Black Friday-sized crowds. "Malls are an undeniable part of New Jersey culture, and we want these businesses to get back up and running in a safe, responsible manner," Governor Phil Murphy said … [Read more...] about 6.23.20: INDOOR MALLS REOPEN IN NEW JERSEY
6.18.20: CHOICE HOTELS SUED BY FRANCHISEES OVER VENDOR PROGRAMS AND FEES
A group of Choice Hotels International Inc. (Choice) franchisees have filed a lawsuit that claims the hotel company is burdening operators with inflated costs for goods and imposing duplicative fees to boost its own revenue. The franchisees claim Choice has set up its qualified-vendor program, … [Read more...] about 6.18.20: CHOICE HOTELS SUED BY FRANCHISEES OVER VENDOR PROGRAMS AND FEES
6.12.20: VALUEXPRESS ACTIVELY SEEKING CMBS CONDUIT LOANS
ValueXpress is actively seeking new CMBS conduit loans. We are pursuing multifamily, manufactured housing community (MHC), self-storage, industrial, retail and office loans. Hotels remain on pause unless performance was unaffected by COVID-19. Interest rates are in the 4.00%-4.50% range. We are … [Read more...] about 6.12.20: VALUEXPRESS ACTIVELY SEEKING CMBS CONDUIT LOANS
6.10.20: FEDERAL RESERVE SIGNALS LOW INTEREST RATES TO CONTINUE
The Federal Open Market Committee ended its two-day meeting on Wednesday holding its key interest rate near zero and signaled it likely won’t lift the key interest rate until at least 2022, noting the outbreak “will weigh heavily on economic activity” and “poses considerable risks to the economic … [Read more...] about 6.10.20: FEDERAL RESERVE SIGNALS LOW INTEREST RATES TO CONTINUE
6.4.20: CERTAIN HOTEL MARKETS BEGIN TO SEE RECOVERY
The global threat from the coronavirus pandemic will eventually pass and hard-hit hoteliers will begin to see occupancies rise. Green shoots are sprouting for certain markets, primarily drive-to beach locations, budget hotels and smaller, limited service interstate highway properties. Hotels that … [Read more...] about 6.4.20: CERTAIN HOTEL MARKETS BEGIN TO SEE RECOVERY
VALUEXPRESS ARRANGES $3,850,000 CBMS CONDUIT LOAN FOR THE PURCHASE OF 28,330-SQUARE-FOOT NEIGHBORHOOD RETAIL CENTER IN NAPLES, FL
ValueXpress has arranged a $3,850,000 CMBS conduit loan for the purchase of a 28,330-square-foot neighborhood retail center located at 7785-7795 Davis Blvd in Naples, Florida. The loan was structured with a 10-year fixed-rate loan term and a 30-year amortization schedule. The property is anchored by … [Read more...] about VALUEXPRESS ARRANGES $3,850,000 CBMS CONDUIT LOAN FOR THE PURCHASE OF 28,330-SQUARE-FOOT NEIGHBORHOOD RETAIL CENTER IN NAPLES, FL
