ValueXpress recently entered a relationship with a private equity fund to originate SBA 504 loans utilized for the purchase of owner-occupied real estate properties. The investor will pool the 504 first liens and issue securities in the capital markets backed by the loans. ValueXpress will primarily … [Read more...] about 10.23.13: ValueXpress Enters New Relationship to Originate SBA 504 Loans on Hotels
10.18.13: Kevin Monahan, 1960-2013
On Friday, October 11th, we lost a dear friend and colleague, Kevin Monahan, to pancreatic cancer. I met Kevin in 2005 when he worked at Business Loan Express (BLX) as a Business Development Officer (BDO). We worked together on a construction loan for a Country Inn & Suites hotel in Ithaca, N.Y. … [Read more...] about 10.18.13: Kevin Monahan, 1960-2013
10.14.13: Spreads and Rates Stable After Morgan Stanley Prices CMBS Issue
On October 10, Morgan Stanley and Bank of America (BoA) priced a $1.3-billion CMBS issue that allowed CMBS loan originators to breathe a sigh of relief as the transaction’s spreads were more in line with those of three multi-borrower CMBS offerings that priced last month compared with those of a … [Read more...] about 10.14.13: Spreads and Rates Stable After Morgan Stanley Prices CMBS Issue
10.9.13: ValueXpress Enters New Relationship for Small Balance CMBS Loans
ValueXpress recently cemented a relationship with a CMBS lender to originate CMBS loans as small as $2 million. The program features the typical terms of larger CMBS loans and is eligible for all the asset classes covered by larger loans, including multifamily, office, retail, industrial, … [Read more...] about 10.9.13: ValueXpress Enters New Relationship for Small Balance CMBS Loans
10.4.13: SBA Sidelined by Government Shutdown
It’s October 1 and through failure of Congress to enact a fiscal budget or a continuing resolution to authorize federal spending, all parts of the federal government not deemed “essential” halted operations effective midnight last night. According to Bloomberg BusinessWeek’s account regarding the … [Read more...] about 10.4.13: SBA Sidelined by Government Shutdown
10.1.13: U.S. CMBS Delinquency Report: Rate Declines Sharply in September, Continuing Year-Long Trend
According to Trepp, the CMBS delinquency rate continued its impressive decline in September, marking the fourth consecutive month the rate has fallen. In doing so, the commercial real estate markets shrugged off worries about Syria, the debt ceiling, and the potential impact of tapering bond … [Read more...] about 10.1.13: U.S. CMBS Delinquency Report: Rate Declines Sharply in September, Continuing Year-Long Trend
9.24.13: SBA Releases SOP 50 10 5(F) Lending Guidelines
On September 24, SBA released SOP 50 10 5(F) to the SBA lending community. This SOP (Standard Operating Procedure), effective on January 1, 2014, contains several significant changes to SBA’s requirements in connection with its loan programs. Many of the revisions reflect a continuation of SBA’s … [Read more...] about 9.24.13: SBA Releases SOP 50 10 5(F) Lending Guidelines
9.20.13: CMBS Spreads Tighten Slightly as Swap Rate Falls
Spreads on new CMBS issues narrowed only slightly as financial markets rallied in response to the Federal Reserve’s surprise announcement that it would keep its massive bond-buying program running full-tilt. However, CMBS conduit loan borrowers still caught a break as the 10-year Swap Index used to … [Read more...] about 9.20.13: CMBS Spreads Tighten Slightly as Swap Rate Falls
9.17.13: For Hotels, Is the Party Over?
Two pervasive messages of the Lodging Conference held at the Arizona Biltmore on Tuesday were more qualitative than quantitative, despite the general mindset of commercial real estate investors to focus on numbers. The key takeaways? The hotel sector’s good times may soon be over -- though that … [Read more...] about 9.17.13: For Hotels, Is the Party Over?
9.10.13: Decline of Enclosed Mall Appears Permanent
The demise of many big-box and department-store retailers has led to a decline in large enclosed malls that won’t reverse itself any time soon -- if ever – according to panelists of the International Council of Shopping Center’s (ICSC) Western Division Conference in San Diego, CA yesterday. Speakers … [Read more...] about 9.10.13: Decline of Enclosed Mall Appears Permanent
