With fresh allocations of money to invest, Commercial Mortgage-Backed Securities (CMBS) buyers were lining up to place orders for the first CMBS conduit offering to hit the market in 2018. With more investor demand than supply of CMBS bonds, dealers are tightening the spreads across all bond … [Read more...] about 1.19.18: Lower CMBS Spreads Helping CMBS Conduit Loan Rates

Amazon announced that it reduced its candidate locations for its second headquarters (HQ2) from 238 to 20. Candidate metropolitan areas are as follows: Atlanta, Austin, Boston, Chicago, Columbus, Dallas, Denver, Indianapolis, Los Angeles, Miami, Montgomery County, Nashville, Newark, New York City, … [Read more...] about 1.14.18: Amazon Creates Short List for New HQ2 Location

Walmart is closing 63 Sam’s Club stores across the United States. The closings will impact about 9,400 employees, according to a Walmart official. In some cases, employees were not told their store had closed before they showed up for work on Thursday. Those employees learned their store was closed … [Read more...] about 1.11.18: Walmart Closes 63 Sam’s Club Stores; 10-12 to Become Fulfillment Centers

On February 11-14, 2018, Michael Sneden and Dennis Suh will be representing ValueXpress at the Mortgage Bankers Association Commercial Real Estate Finance (CREF)/Multifamily Housing Convention & Expo at the Marriott Marquis in San Diego, California. The conference is expected to attract over … [Read more...] about 1.5.18: Meet ValueXpress at the MBA CREF Conference in San Diego, CA

U.S. CMBS origination volume totaled $88 billion in 2017, up 17% from 2016’s $76 billion and far surpassing the average prediction of $75 billion by market professionals. Industry predictions for 2018 are for $75 billion of U.S. CMBS conduit originations. The expected decline in 2018 is based partly … [Read more...] about 1.2.18: CMBS Loan Volume in 2017 Exceeds Predictions

Marking the sixth straight monthly decline, the Trepp CMBS delinquency rate dropped sharply in December. The delinquency rate for U.S. commercial real estate loans in CMBS is now 4.89%, down 29 basis points from the November level. That is the lowest reading since September 2016. One year ago, the … [Read more...] about 12.23.17: Trepp: CMBS Delinquency Rate Drops Sharply in October

The SBA 7(a) loan program is an excellent way for hoteliers to obtain acquisition financing for hotel properties. Since the lending market considers hotels riskier than other commercial assets, the SBA loan guarantee helps mitigate loan loss risk on defaulted loans and encourages commercial banks … [Read more...] about 12.22.17: SBA 7(a) Hotel Borrowers Scramble to Refinance into CMBS

One of the many benefits of CMBS conduit loans is the ability to get loans approved in which the owner of the property has derogatory credit history. Examples of prior credit issues that could negatively impact a loan approval decision are loan defaults and modifications, personal or property … [Read more...] about 12.18.17: Tell the Truth, Please – CMBS Conduit Loan Disclosure Tip

USA Today reported that Westfield, which owns malls stretching from Palm Desert, California, to Paramus, New Jersey, is being bought by a European shopping-center company at a time when malls are struggling to cope with intense competition from online shopping. Purchaser Unibail-Rodamco said that … [Read more...] about 12.12.17: Mall Giant Westfield to be Sold to French Real Estate Firm