CMBS participants foresee relatively flat prices for CMBS securities for the second half of 2018. This would be good news for CMBS borrowers as “re-trading” of CMBS loan spreads to borrowers would remain muted if CMBS prices remain stable. Re-trading occurs when spreads on CMBS securities rise … [Read more...] about 7.16.18: Industry Veterans See Stable CMBS Conduit Loan Spreads for Balance of 2018
7.10.18: Collateralized Loan Obligations Make a Comeback!
Earlier this spring, Kroll Bond Rating Agency assigned preliminary ratings to a commercial real estate “collateralized loan obligation,” or CLO, that LoanCore Capital Markets was taking to the market. The CLO was backed by $1.1 billion in first mortgages secured by a mix of 33 properties. The … [Read more...] about 7.10.18: Collateralized Loan Obligations Make a Comeback!
7.6.18: Meet with Dennis Suh and Mike Sneden at the Regional AAHOA Conference and Trade Show in Long Island, NY on August 7
On August 7, 2018, ValueXpress will be exhibiting at the Asian American Hotel Owners (AAHOA) Regional Trade Show in Long Island, New York. ValueXpress will be exhibiting at Atlantis Banquet & Events, 431 East Main Street, Riverhead, New York, 3:00 p.m.-6:00 p.m. ValueXpress will be joining AAHOA … [Read more...] about 7.6.18: Meet with Dennis Suh and Mike Sneden at the Regional AAHOA Conference and Trade Show in Long Island, NY on August 7
7.2.18: ValueXpress Revises Loan Document Checklist Required for a Loan Quote
Borrowers have two options to receive a loan proposal for a CMBS conduit loan. The first option is to request a Summary of Certain Indicative Terms, which is a one-page summary of the proposed loan terms that has not been through a complete credit review process, but has a high likelihood that the … [Read more...] about 7.2.18: ValueXpress Revises Loan Document Checklist Required for a Loan Quote
6.26.18: Flexible Office Space Firms Growing Exponentially in New York City
Flexible office space operators are expanding at a rapid pace in New York City, mirroring trends across the United States. Flexible office space is a concept that allows small companies and/or individuals to share or rent workstations or small self-contained office units. The space is often rented … [Read more...] about 6.26.18: Flexible Office Space Firms Growing Exponentially in New York City
6.22.18: ValueXpress Fixed-Fee CMBS Program Takes Off
A few months ago, ValueXpress introduced a “fixed cost” CMBS conduit loan option for loans between $1.5 million and $12 million. “We closed our first loan a few weeks ago and have another three loans in the closing process,” commented Michael Sneden, Executive Vice President at ValueXpress. “Clients … [Read more...] about 6.22.18: ValueXpress Fixed-Fee CMBS Program Takes Off
6.15.18: Borrowers Seeing Improvements in CMBS Loan Servicing
A few years ago, the CRE Finance Council, a trade association for the commercial real estate finance industry, set up a task force to propose improvements to address long-running borrower complaints regarding the servicing of CMBS conduit loans. The formation of the task force resulted from concerns … [Read more...] about 6.15.18: Borrowers Seeing Improvements in CMBS Loan Servicing
6.12.18: Simon Wins Battle of the Outlet Mall in Suburban St. Louis
In 2013, Simon Property Group and Taubman Centers Inc. both built outlet center projects in Chesterfield, Missouri, which is in the St. Louis area. At the time, experts believed the trade area could support only one traditional outlet center, but neither company would back down from proceeding, … [Read more...] about 6.12.18: Simon Wins Battle of the Outlet Mall in Suburban St. Louis
6.8.18: CMBS Spreads Remain Steady
CMBS conduit loan borrowers are finding calm waters as spreads on CMBS securities have been stable at attractive levels for most of 2018. This has help offset the rise in the 10-year Swap rate, minimizing the impact on interest rates for CMBS conduit loan borrowers. The 10-year Swap rate, the … [Read more...] about 6.8.18: CMBS Spreads Remain Steady
6.4.18: Keep Contractor Work to a Minimum When Closing a CMBS Conduit Loan
We recently had to work through an issue on a relatively simple CMBS conduit loan. The transaction was a 50% loan-to-value (LTV) cash-out refinance of a small neighborhood shopping center that was 100% leased. One of the tenants that will occupy 24% of the space has a signed lease and is paying rent … [Read more...] about 6.4.18: Keep Contractor Work to a Minimum When Closing a CMBS Conduit Loan
