During the peak of COVID-19, CMBS borrowers, primarily hotel and retail, were not generating sufficient revenue to make mortgage and escrow payments to lenders. As a result, loan servicers developed a plan to assist borrowers while still complying with the terms of servicing agreements. Master … [Read more...] about 12.31.21: COVID-19 PERFORMING LOAN CONSENTS FOR CMBS LOANS – A LOOK BACK
Archives for December 2021
VALUEXPRESS ARRANGES $2.4-MILLION LOAN FOR THE PURCHASE OF A 68-UNIT APARTMENT COMPLEX LOCATED IN HARTFORD, CT
ValueXpress has arranged a $2.4-million loan for the purchase of a 68-unit apartment complex located in Hartford, Connecticut. Constructed in 1968, the property is in an urban area of Hartford desired by blue collar residents because of walking access to employers and amenities. The property … [Read more...] about VALUEXPRESS ARRANGES $2.4-MILLION LOAN FOR THE PURCHASE OF A 68-UNIT APARTMENT COMPLEX LOCATED IN HARTFORD, CT
12.14.21: ANNOUNCED STORE CLOSINGS IN 2021 APPROACH AN ALL-TIME LOW
Despite rising cases of breakthrough coronavirus infections and the resulting uncertainty over the efficacy of current vaccines against variants, the retail property market shows impressive signs of recovery at yearend. Retail sales have moved well above pre-pandemic levels for months, retailer … [Read more...] about 12.14.21: ANNOUNCED STORE CLOSINGS IN 2021 APPROACH AN ALL-TIME LOW
12.8.21: COSTAR PREDICTS REBOUNDING GROUP TRAVEL WHICH MEANS ONE HOTEL METRIC COULD SUFFER
A commonly used hotel metric will edge lower in 2022 despite the hospitality sector improving, according to projections for 2022 by CoStar analysts. Convention hotels are expected to see falling average daily rates, a measure of how much revenue is generated per room, as group travel increases. … [Read more...] about 12.8.21: COSTAR PREDICTS REBOUNDING GROUP TRAVEL WHICH MEANS ONE HOTEL METRIC COULD SUFFER
VALUEXPRESS ARRANGES $9.2-MILLION LOAN FOR THE PURCHASE OF A 20,880-SQUARE-FOOT COMMERCIAL BUILDING LOCATED IN BROOKLYN, NY FOR CONVERSION TO RETAIL USE
ValueXpress has arranged a $9.2-million loan for the purchase of a 20,880-square-foot warehouse building that will be converted into a multi-tenant retail center. The property is in the Bushwick neighborhood of Brooklyn, New York. The single-story building will feature a new façade, architectural … [Read more...] about VALUEXPRESS ARRANGES $9.2-MILLION LOAN FOR THE PURCHASE OF A 20,880-SQUARE-FOOT COMMERCIAL BUILDING LOCATED IN BROOKLYN, NY FOR CONVERSION TO RETAIL USE
