ValueXpress obtained a $1,332,500 first mortgage loan that was utilized to refinance a CMBS conduit loan that was set to mature in September. The Mississippi borrower is a long-time client of ValueXpress as the firm has provided ten CMBS conduit loans over a 10-year period. “We explained to the … [Read more...] about ValueXpress Obtains $1.33-Million Fannie Mae Small Balance Loan to Refinance a Maturing CMBS Conduit Loan
8.17.18: Meet with Dennis Suh and Mike Sneden at the Mid-Atlantic Regional AAHOA Conference and Trade Show in Cherry Hill, NJ on September 6
On September 6, 2018, ValueXpress will be exhibiting at the Asian American Hotel Owners (AAHOA) Mid-Atlantic Regional Trade Show in Cherry Hill, New Jersey. ValueXpress will be exhibiting at the Crown Plaza Cherry Hill, 2349 Marlton Pike W, Cherry Hill, New Jersey during the hours of 3:00 p.m.-6:00 … [Read more...] about 8.17.18: Meet with Dennis Suh and Mike Sneden at the Mid-Atlantic Regional AAHOA Conference and Trade Show in Cherry Hill, NJ on September 6
ValueXpress Obtains USDA B&I Loan Commitment for the Refinancing of a 58-Room Limited-Service Hotel in Ithaca, New York
ValueXpress obtained a $3,600,000 USDA loan guarantee (80% of the loan amount) to support a $4,500,000 refinancing of a 58-room limited-service hotel located in Ithaca, New York. The loan will refinance a first mortgage held by Ares Capital, and a second mortgage held by the bankrupt estate of … [Read more...] about ValueXpress Obtains USDA B&I Loan Commitment for the Refinancing of a 58-Room Limited-Service Hotel in Ithaca, New York
ValueXpress Provides SBA 504 Loan for the Acquisition of an Industrial Building in Long Island, New York
ValueXpress closed a $1,750,000 first-mortgage loan in conjunction with a $1,400,000 SBA 504 second-mortgage loan utilized to acquire a single-story industrial building. The property, located on eastern Long Island, NY, is utilized as an arcade. The Long Island Development Corporation sponsored the … [Read more...] about ValueXpress Provides SBA 504 Loan for the Acquisition of an Industrial Building in Long Island, New York
ValueXpress Provides SBA 504 Loan for the Acquisition of an Office Building in Florida
ValueXpress closed a $600,000 first-mortgage loan in conjunction with a $240,000 SBA 504 second-mortgage loan utilized to acquire and renovate a 3,000-square-foot former single-story residential property into office space. The property is located on the East Coast of Florida and a property appraisal … [Read more...] about ValueXpress Provides SBA 504 Loan for the Acquisition of an Office Building in Florida
ValueXpress Obtains $500,000 SBA 7(a) Loan Commitment Prior to Expiration of Stimulus Funds
ValueXpress obtained a $500,000 first-mortgage loan commitment from the SBA on May 28, 2010, just prior to the expiration of the stimulus program on May 31, 2010. “This was a classic case of the extra mile ValueXpress goes for its clients,” explained Michael D. Sneden, Executive Vice President of … [Read more...] about ValueXpress Obtains $500,000 SBA 7(a) Loan Commitment Prior to Expiration of Stimulus Funds
8.13.18: Unintended Consequences When Tenants “Go Dark”
Many CMBS conduit loans have a clause whereby in the event a “Significant Tenant,” often defined as a tenant that occupies more than 25% of the space at the property, vacates the property or ceases to operate, all the cash flow after expenses and debt service is held in an escrow account and the … [Read more...] about 8.13.18: Unintended Consequences When Tenants “Go Dark”
ValueXpress Obtains $1.72-Million Conventional Loan for a Mixed-Use Property Located in Brooklyn, NY
ValueXpress obtained a $1,720,000 first-mortgage loan that was utilized to refinance existing debt of $1,100,000 and $345,000 in equipment loans on a mixed-use property. The cash-out proceeds of $275,000 partially recovered the borrower’s substantial investment in property improvements. The property … [Read more...] about ValueXpress Obtains $1.72-Million Conventional Loan for a Mixed-Use Property Located in Brooklyn, NY
ValueXpress Obtains $3.15-Million Fannie Mae DUS Loan to Refinance a Maturing CMBS Conduit Loan
ValueXpress obtained a $3,150,000 first mortgage loan that was utilized to refinance a CMBS conduit loan set to mature in September. The Mississippi borrower is a long-time client of ValueXpress as the firm has provided ten CMBS conduit loans over a 10-year period. “We explained to the client that … [Read more...] about ValueXpress Obtains $3.15-Million Fannie Mae DUS Loan to Refinance a Maturing CMBS Conduit Loan
ValueXpress Obtains $1.65-Million Loan for the Purchase and Reflagging of a Limited-Service Hotel in Texas
ValueXpress obtained a $1,650,000 first-mortgage loan to be utilized for the acquisition of a limited-service hotel located in southern Texas. The loan was co-originated with a ValueXpress partner bank located in Texas utilizing the SBA 7(a) loan guaranty program. The transaction was challenging … [Read more...] about ValueXpress Obtains $1.65-Million Loan for the Purchase and Reflagging of a Limited-Service Hotel in Texas
