On April 15, spreads on senior CMBS fell 25-30 basis points (bp) as an ongoing rally in CMBS spreads and prices accelerated. CMBS prices (as measured by the GSMS 2007-GG10 super senior A4 bond class, which is considered the industry benchmark) tightened to 295 bp over swaps from 325 bp. The dollar … [Read more...] about 4.16.10: CMBS Rally Accelerates
4.14.10: SBA Fee Waiver Extended Once Again
U.S. Senator Mary L. Landrieu (D, LA), Chair of the Senate Committee on Small Business and Entrepreneurship, commented on the passage of the extension of several American Recovery and Reinvestment Act (ARRA) provisions that were set to expire on April 30, 2010. The extension provided $80 million to … [Read more...] about 4.14.10: SBA Fee Waiver Extended Once Again
4.9.10: RBS Deal Fares Well
The first multi-borrower commercial MBS offering since mid-2008 was priced on Friday, April 9, as spreads in the secondary market continued to tighten. The $309.7-million offering by RBS and Natixis priced at spreads that were in line with or tighter than initial price talk. The largest tranche -- … [Read more...] about 4.9.10: RBS Deal Fares Well
4.1.10: ValueXpress Provides $2.5-Million Loan in Conjunction with DPO That Saves Borrower over $6 Million
In one of the most difficult transactions ever completed by the firm, ValueXpress was able to save its client more than $6 million by providing a $2.5-million loan to pay off $7.4 million in debt obligations secured by 8 KFC (Kentucky Fried Chicken) restaurants located in Ohio and Pennsylvania. … [Read more...] about 4.1.10: ValueXpress Provides $2.5-Million Loan in Conjunction with DPO That Saves Borrower over $6 Million
3.29.10: JP Morgan Closes CMBS Conduit Loan, While RBS Prepares Multi-Borrower CMBS Issue
Ramco-Gershenson Properties Trust announced that it has closed on a new $31.3-million CMBS loan with J.P. Morgan; the loan is secured by its West Oaks II shopping center in Novi, MI and its Spring Meadows Place shopping center in Holland, OH. The $31.3-million financing represents a loan-to-value of … [Read more...] about 3.29.10: JP Morgan Closes CMBS Conduit Loan, While RBS Prepares Multi-Borrower CMBS Issue
3.28.10: SBA 7(a) Stimulus Provisions Extended through April 30, 2010
U.S. Congress has extended breaks on U.S. Small Business Administration (SBA) loans for another month, making the loans less risky for lenders and more affordable for borrowers. Through April 30, the SBA will guarantee 90% of the amount of its flagship 7(a) loans, and reduce or eliminate fees on … [Read more...] about 3.28.10: SBA 7(a) Stimulus Provisions Extended through April 30, 2010
3.19.10: ValueXpress to Brokers: “Find HUD Loans in Pre-Review States.”
“I have been receiving an increasing number of inquiries from mortgage bankers and brokers asking how to make a living until the commercial mortgage lending markets improve to historical levels,” said Michael D. Sneden, Executive Vice President at ValueXpress. “My advice is to market a viable loan … [Read more...] about 3.19.10: ValueXpress to Brokers: “Find HUD Loans in Pre-Review States.”
3.12.10: RBS Assembling Loans for CMBS Deal
Commercial Real Estate Weekly reported that RBS is getting closer to bringing a genuine CMBS conduit transaction to market, the first in more than a year. The buzz is that the investment bank could launch a deal with some $500 million of recently originated fixed-rate mortgages, some contributed by … [Read more...] about 3.12.10: RBS Assembling Loans for CMBS Deal
3.11.10: Here We Go Again. SBA Stimulus to Expire March 28, 2010
For companies seeking a federally guaranteed Small Business Administration (SBA) loan that doesn't carry origination fees, the clock is ticking. Following the signing of a jobs bill this month, a program of providing guarantees to 90% of the loan and waiving fees is back in place -- but only until … [Read more...] about 3.11.10: Here We Go Again. SBA Stimulus to Expire March 28, 2010
3.5.10: Simon Property Group May Have to Raise Its Offer for General Growth Properties
On March 3, the bankruptcy court granted General Growth Properties a four-month extension to exclusivity, preventing suitors such as Simon Property Group from submitting bids directly to the court. After the four additional months, General Growth could apply for a second extension. We believe … [Read more...] about 3.5.10: Simon Property Group May Have to Raise Its Offer for General Growth Properties