Many commercial real estate owners have become very wealthy from purchasing underperforming income-producing real estate assets and completing a “value-add” program to increase the value of the property. Once the value-add is completed, the owner sells or refinances the property for much more than … [Read more...]
12.19.19: MACK-CALI DIVESTING SUBURBAN OFFICE HOLDINGS
On December 19, 2019, Mack-Cali Realty Corporation (NYSE: CLI) announced that it will be divesting all of its suburban office holdings -- spanning 6.6 million square feet -- in 2020, as recommended by its shareholder committee. The company has already approved the sale of two of its N.J. office … [Read more...]
12.18.19: VALUEXPRESS LOAN QUOTES ARE FREE!
ValueXpress provides free, no-obligation loan quotes for your commercial loan transaction. We evaluate your property’s cash flow, and using our propriety Loan Sizing model, we will tell you how much the property is worth, how much you can borrower, what the interest rate will be and how much is will … [Read more...]
ValueXpress Obtains $2,915,000 Loan for the Refinance of a 65-Site Manufactured Housing Community (MHC) in Henderson, NV
ValueXpress has arranged a $2,915,000 CMBS conduit loan for the refinance of a 65-site manufactured housing community located in Henderson (Las Vegas), Nevada. Most of the homes are double-wide units and half of the sites are occupied by RVs. The property was unencumbered, and the entire loan … [Read more...]
12.15.19: CMBS MARKET REMAINS STRONG INTO YEAREND
Benchmark spreads on CMBS conduit securities tightened this past week despite a wave of new issues hitting the market before yearend. Bond buyers usually have reduced funds at this time of year as they typically have invested their annual allocations and often sit on the sidelines until the new … [Read more...]
12.10.19: CMBS DELINQUENCY RATES CONTINUE TO DECLINE
The Trepp CMBS delinquency rate maintained its downward trend in November, falling sharply to another post-crisis low. The November reading was 2.34%, a month-over month drop of 13 basis points (bp). The delinquency rate is down 99 bp year over year. The delinquency rate started to fall after June … [Read more...]
12.5.19: CARLSBAD, NM HOTEL MARKET POWERED BY THE DELAWARE BASIN
Carlsbad, New Mexico is located 150 miles northeast of El Paso, Texas, in the southeastern section of New Mexico. It is well known as the gateway to the vast, bat-filled caves of Carlsbad Caverns National Park. But what’s really happening in Carlsbad involves oil and gas exploration and … [Read more...]
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...]
12.2.19: REMEMBER: INTEREST-ONLY LOANS ARE AVAILABLE IN CMBS!
Unlike many commercial loan programs, CMBS conduit loans can provide for partial interest-only loan payments as well as full-term, interest-only loan payments for lower leverage loans. This structure provides higher cash flow after debt service to the sponsor, and it can be particularly useful in … [Read more...]
11.22.19: HOW TO ESTIMATE DEFEASANCE COSTS FOR A CMBS CONDUIT LOAN
Most CMBS conduit loans feature defeasance as the method for loan prepayment before maturity. In layman’s terms, the lender releases the mortgage lien in exchange for securities, usually treasury bonds, that produce enough cash flow to make the remaining loan payments as they come due. If the total … [Read more...]
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