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...]
11.15.19: HOW TO USE A DEFEASANCE CALCULATOR
Most CMBS conduit loans feature defeasance as the method for loan prepayment before maturity (click here for details). Several well-qualified firms handle the defeasance process on behalf of borrowers, and each has a defeasance calculator on its website. Let’s walk through an example of how to … [Read more...]
11.11.19: WHY DOES VALUEXPRESS EXCEL FOR CLIENTS: EXPERIENCE!
The key individuals on the ValueXpress team have significant years of experience in the underwriting and closing of commercial loans, particularly CMBS conduit loans. Mike Sneden has 25 years of experience, and Dennis Suh, Gary Unkel and Jim Brett each have 15 years. This talented team is focused on … [Read more...]
11.6.19: WHEN IS A CMBS CONDUIT LOAN PERFECT FOR YOU?
A CMBS conduit loan is perfect for the owner or buyer of a multi-tenant income producing property that is one of the following: multifamily, manufactured housing community, retail, industrial, office, hotel or self-storage. This borrower would be seeking to refinance or purchase one of these assets. … [Read more...]
11.2.19: U.S. LODGING MARKET UPDATE
LW Hotel Advisors (LWHA) recently released its third-quarter U.S. lodging market update. According to Daniel Lesser, President and CEO, the near‐term lodging outlook appears choppy as prognosticators have downgraded projected 2020 national hotel revenue per available room (RevPAR) growth. While the … [Read more...]
10.28.19: FULL-YEAR CMBS LOAN VOLUME ON TRACK TO EXCEED 2018
Strong CMBS issuance and lower interest rates heading into the fourth quarter have put CMBS volume on track to exceed last year’s total. As of September 30, a total of $57.8 billion of U.S. CMBS transactions has priced, approximately $375 million below last year. However, about $20 billion in deals … [Read more...]
10.22.19: VALUEXPRESS CELEBRATES SEVEN-YEAR ANNIVERSARY TEACHING AT CCTG
ValueXpress recently passed the seven-year milestone teaching CMBS conduit loan origination at Commercial Capital Training Group (CCTG) in Albany, New York. CCTG is a one-of-a-kind training company that provides a one-week, comprehensive commercial training and education program tailored for new and … [Read more...]
10.15.19: 25-YEAR SBA 504 LOANS ARE A BIG HIT
In April 2018, the U.S. Small Business Administration (SBA) made available 504 loans with a 25-year maturity. The self-amortizing loan complimented the 10- and 20-year 504 loans that were available at the time. By expanding the 504 options to include a 25-year loan, SBA expected that the longer term … [Read more...]
10.10.19: CMBS CONDUIT LOAN RATES REMAIN AT HISTORIC LOWS
Interest rates for CMBS conduit loans remain at historic lows. After the 10-year swap rate hit a recent low of 1.33% on September 3, the rate began to move upward, creating a concern that the window for record-low CMBS conduit loan rates may quickly close. The 10-year swap rose to 1.79% on September … [Read more...]
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