ValueXpress recently closed a $17-million hotel portfolio secured by three hotels located in metropolitan New Orleans, LA. The sponsor was facing a $66,000 penalty if the transaction did not close by April 18. Here is what he had to say: “Mike and Jim: I'm sure you know already, but we made the … [Read more...] about 4.19.13: This Is What It’s All About
4.16.13: CMBS Spreads Do an About Face
After spreads widened on a recent UBS-Barclays CMBS transaction that priced on April 11, commercial MBS buyers snatched up three multi-borrower offerings totaling $3.4 billion this week, pushing spreads tighter with the pricing of each transaction, according to Commercial Mortgage Alert. Long-term … [Read more...] about 4.16.13: CMBS Spreads Do an About Face
4.10.13: Jay Bhakta Heads Back to Texas
After returning to home base in Jackson, MS to regroup for a week, Jay Bhakta, a Senior Loan Originator at ValueXpress for over 15 years, headed back to Texas to follow up on a substantial amount of pending business in Houston, San Antonio, Corpus Christi and Dallas. Jay is one of the largest … [Read more...] about 4.10.13: Jay Bhakta Heads Back to Texas
4.5.13: AAHOA Show an Enormous Success
The ValueXpress booth was bustling with activity on March 28-29, 2013 at the annual Asian American Hotel Owners (AAHOA) Trade Show in Houston, TX. Over 3,000 attendees visited the trade show at the George R. Brown Convention Center. “This year, the product of the day was CMBS conduit loans. With … [Read more...] about 4.5.13: AAHOA Show an Enormous Success
3.29.13: Raj Patel Wins Authentic 24-K Gold-Plated $100 Bill at AAHOA Show
Hotel owner Raj Patel won a 24-karat gold-plated $100 bill at the ValueXpress booth at the Asian-American Hotel Owners (AAHOA) Convention and Trade Show in Houston, TX last week. Over 500 cards were submitted for the ValueXpress drawing, which we consider a big success. Raj Patel and his 24 karat … [Read more...] about 3.29.13: Raj Patel Wins Authentic 24-K Gold-Plated $100 Bill at AAHOA Show
3.26.13: CMBS Issuance Soars in 2013’s First Quarter
From January through March 2013, $22.9 billion of commercial mortgage-backed securities were issued, up almost fourfold from a year earlier, according to Commercial Mortgage Alert. That puts volume on pace to surpass $90 billion for the year, well above the $65-billion average prediction by a panel … [Read more...] about 3.26.13: CMBS Issuance Soars in 2013’s First Quarter
3.22.13: I Can’t Believe It’s Been 10 Years!
ValueXpress was very active in CMBS originations in 2003; after the shock of the events of September 11, 2001 began to lift from the commercial real estate markets 2002 and 2003 began a strong period of growth in CMBS originations: $52 billion in 2002 and $78 billion in 2003. In 2003, ValueXpress … [Read more...] about 3.22.13: I Can’t Believe It’s Been 10 Years!
3.14.13: Dave Wood of Residential Home Funding Wins Nook Tablet at Regional Conference of MBAs Convention & Trade Show
Mortgage Banker Dave Wood won a new Nook HD 8 GM Tablet e-reader at the ValueXpress booth at the Regional Conference of MBAs Convention & Trade Show. Held March 10-14 at the Trump Taj Mahal Casino Resort in Atlantic City, NJ, “the trade show was very well attended by exhibitors and visitors, and … [Read more...] about 3.14.13: Dave Wood of Residential Home Funding Wins Nook Tablet at Regional Conference of MBAs Convention & Trade Show
3.11.13: Rising Property Values, Low Rates Spur Increase in Defeasance
More borrowers are using defeasance to release properties from securitized mortgages so they can take advantage of improving market conditions to sell or refinance the assets, according to Commercial Mortgage Alert. Some $5.9 billion of U.S. loans in commercial MBS collateral pools were defeased … [Read more...] about 3.11.13: Rising Property Values, Low Rates Spur Increase in Defeasance
3.8.13: CMBS Spreads Continue to Widen Amid Heavy Supply
Spreads on CMBS widened on mezzanine bonds from recent CMBS offerings floated by J.P. Morgan/CIBC and Wells Fargo/RBS this week. The junior triple-A bonds in the J.P. Morgan/CIBC deal priced at 110 basis points (bp), and comparable notes in the Wells/RBS issue widened further to 120 bp. Equivalent … [Read more...] about 3.8.13: CMBS Spreads Continue to Widen Amid Heavy Supply
