On Friday, August 26, Federal Reserve Chairman Jerome Powell warned that combating high inflation will likely mean higher interest rates “for some time. The historical record cautions strongly against prematurely loosening policy.” Speaking at the annual Jackson Hole Economic Policy … [Read more...] about 9.1.22: FED CHAIR POWELL SAYS HIGHER INTEREST RATES LIKELY TO LAST “FOR SOME TIME”
8.17.22: KPMG CUTS OFFICE SPACE BY 40% IN HUDSON YARDS MOVE
Accounting firm KPMG will cut more than 40% of its New York City office footprint and relocate its U.S. headquarters to Brookfield Properties’ 2 Manhattan West, the firm announced. KPMG inked a 20-year deal for 456,000 square feet across 12 floors of the under-construction Hudson Yards skyscraper to … [Read more...] about 8.17.22: KPMG CUTS OFFICE SPACE BY 40% IN HUDSON YARDS MOVE
8.8.22: AMAZON NIXES OR DELAYS OPENING ALMOST 50 WAREHOUSES
Perhaps Amazon’s run of furiously adding what seemed like an endless amount of warehouse space has plateaued. In the face of declining online shopping, the e-commerce king has canceled, closed or delayed the opening of 49 delivery processing facilities in the United States, according to reports … [Read more...] about 8.8.22: AMAZON NIXES OR DELAYS OPENING ALMOST 50 WAREHOUSES
8.1.22: VALUEXPRESS ANNOUNCES NEW LOAN PROGRAM FOR HEALTHCARE PRACTICES
ValueXpress is pleased to announce a new loan program for healthcare practices. The program is for fixed-rate conventional loans -- NOT SBA loans. The loans are for professionals who own healthcare businesses with or without real estate. Qualifying practices include dentists, veterinarians, eye care … [Read more...] about 8.1.22: VALUEXPRESS ANNOUNCES NEW LOAN PROGRAM FOR HEALTHCARE PRACTICES
7.11.22: SUBURBAN OFFICES MORPH TO RESIDENTIAL AND OTHER USES
Suburban municipalities that in the 1980s courted office buildings as the perfect new source for coveted tax revenue -- nearly invisible neighbors with no impact on school systems -- now accept the fact that some of those buildings will be replaced with apartment complexes and mixed-use projects. In … [Read more...] about 7.11.22: SUBURBAN OFFICES MORPH TO RESIDENTIAL AND OTHER USES
6.24.22: HYATT’S BUSINESS STRENGTHENS FROM HOTEL SALES
Hyatt Hotels Corp.'s goal of transforming into an asset-light business is well on its way after several sales in the second quarter. During the company's second-quarter earnings call, President and CEO Mark Hoplamazian said it's been an active first half of the year for the company. Hyatt … [Read more...] about 6.24.22: HYATT’S BUSINESS STRENGTHENS FROM HOTEL SALES
6.1.22: CMBS MARKET FORGES AHEAD DESPITE MARKET HEADWINDS
The CMBS market is “business as usual” despite headwinds from many directions. First, the Russian invasion of Ukraine on February 24 sent a chill though the capital markets, including CMBS. Then, with supply chain issues occurring throughout much of the world, inflation has surged in 2022 to date. … [Read more...] about 6.1.22: CMBS MARKET FORGES AHEAD DESPITE MARKET HEADWINDS
5.21.22: CONSIDER APPLYING FOR AN EMPLOYEE RETENTION CREDIT
The Employee Retention Tax Credit (ERC) is a refundable tax credit designed to reward business owners for retaining employees throughout the COVID-19 pandemic. The ERC is available to both small- and mid-sized businesses. It was signed into law on March 27, 2020, as part of the CARES Act. The bill … [Read more...] about 5.21.22: CONSIDER APPLYING FOR AN EMPLOYEE RETENTION CREDIT
5.8.22: DEFEASANCE HEATS UP WITH RISE IN INTEREST RATES
Most CMBS conduit loans have a prepayment penalty called defeasance that gives borrowers the ability to unencumber the underlying real estate to sell or refinance the property. When a loan is defeased the borrower substitutes the existing collateral with a portfolio of U.S. securities structured to … [Read more...] about 5.8.22: DEFEASANCE HEATS UP WITH RISE IN INTEREST RATES
5.1.22: JOSH STEGEN JOINS VALUEXPRESS TO FOCUS ON MARKETING
Joshua (Josh) Stegen has joined ValueXpress as an Associate Loan Originator with a focus on marketing to borrowers who would benefit from CMBS conduit loans. Josh is a graduate of Fordham University with an MBA in Finance. In addition, Josh is a licensed real estate agent in the State of New … [Read more...] about 5.1.22: JOSH STEGEN JOINS VALUEXPRESS TO FOCUS ON MARKETING
