The 21st MBA CREF/Multifamily Housing Convention and Expo, traditionally held in San Diego, California in the beginning of February, will be virtual in 2021 due to the pandemic. The conference typically attracts over 3,000 commercial and multifamily professionals who network with industry leaders … [Read more...] about 12.9.20: MBA/CREF CONVENTION VIRTUAL FOR 2021
12.1.20: STEP-DOWN PREPAYMENT LOANS ARE BACK!
ValueXpress has been originating CMBS conduit loans for over 25 years. We are a leader in originating loans for newly launched CMBS programs that offer a better value proposition for our clients than existing options. When new programs are developed, we are the first to know as ValueXpress is sought … [Read more...] about 12.1.20: STEP-DOWN PREPAYMENT LOANS ARE BACK!
11.17.20: TREPP PREDICTS MINIMUM 10% INCREASE IN CMBS LOANS FOR 2021
According to a recent report from Trepp, private-label CMBS issuance is projected to rise at least 10% in 2021 from 2020’s depressed levels. So far, $50.6 billion of conduit and single-borrower transactions have priced in 2020. Including deals slated for December, 2020 will finish with about $55-$60 … [Read more...] about 11.17.20: TREPP PREDICTS MINIMUM 10% INCREASE IN CMBS LOANS FOR 2021
11.9.20: KIMCO’S ROSS COOPER PROVIDES RETAIL INSIGHTS
In a recent interview, Kimco Realty President and CIO Ross Cooper discussed retail trends and strategies amid the pandemic and highlighted the potential for shopping centers in 2021. Ross notes that the retail store is the most cost-effective distribution model when coupled with curbside and … [Read more...] about 11.9.20: KIMCO’S ROSS COOPER PROVIDES RETAIL INSIGHTS
11.1.20: BRIDGE LENDERS GEAR UP FOR RESCUE LOANS
Banks are beginning to increase pressure on borrowers with non-performing loans to pay or find financing elsewhere. Borrowers with low-leverage loans pre-COVID that simply need time to restabilize are turning to the bridge loan market for alternatives. The situation is particularly acute in the … [Read more...] about 11.1.20: BRIDGE LENDERS GEAR UP FOR RESCUE LOANS
10.23.20: HOTEL MARKET OBSERVATIONS FROM LW HOSPITALITY ADVISORS
According a recent report from LW Hospitality Advisors, the situation with today’s global travel sector, which many characterize as being “on the brink of collapse,” is simply unprecedented. Seven months into a worldwide pandemic that shows no sign of abating anytime soon caused a swift, wide, and … [Read more...] about 10.23.20: HOTEL MARKET OBSERVATIONS FROM LW HOSPITALITY ADVISORS
10.18.20: PREIT FILES FOR PRE-PACKAGED BANKRUPTCY
Pennsylvania Real Estate Trust (PREIT), the owner of malls throughout the eastern region of the United States, including the newly opened Fashion District Mall in Center City Philadelphia, has filed for Chapter 11 bankruptcy. The company describes the filing as a prepackaged restructuring plan … [Read more...] about 10.18.20: PREIT FILES FOR PRE-PACKAGED BANKRUPTCY
10.15.20: BORROWERS WANT HIGHER LIMIT FOR SIMPLIFIED PPP LOAN FORGIVENESS APPLICATIONS
The SBA has simplified the Payroll Protection Loan Program (PPP) forgiveness applications for PPP loans under $50,000. The new 3508S form is only one page. However, with the average PPP loan $150,000, bankers and borrowers want the simplified application limit increased to $150,000 or … [Read more...] about 10.15.20: BORROWERS WANT HIGHER LIMIT FOR SIMPLIFIED PPP LOAN FORGIVENESS APPLICATIONS
10.10.20: TREPP EXAMINES HOTEL DISTRESS IN THE UNITED STATES
According to Trepp, the lodging delinquency rate for CMBS conduit loans in September came in at 23%, while the lodging special servicing rate came in at an all-time high 26%. Both numbers illustrate a sector that is rife with distress and has yet to find a real source of respite. Trepp examined … [Read more...] about 10.10.20: TREPP EXAMINES HOTEL DISTRESS IN THE UNITED STATES
10.7.20: NEW YORK’S ROOSEVELT HOTEL CLOSING PERMANENTLY DUE TO COVID
COVID-19 has claimed the landmark Roosevelt Hotel in Midtown Manhattan. The hotel’s owner, Pakistan International Airlines, announced over the weekend that it was shuttering the 19-story, 1,015-key hotel at 45 East 45th Street before the end of 2020 due to a steep drop in demand because of the … [Read more...] about 10.7.20: NEW YORK’S ROOSEVELT HOTEL CLOSING PERMANENTLY DUE TO COVID
