ValueXpress has arranged a $15-million CMBS conduit loan for the refinance of a 1-million-square-foot warehouse and light manufacturing industrial park located in Ambridge, PA, 15 miles north of Pittsburgh. The property features 22 buildings that were constructed in stages between 1920 and 1968. In … [Read more...]
4.10.19: When Can a CMBS Conduit Loan Close on a New Property?
CMBS conduit loans are underwritten based on the income generated from tenant leases less property operating expenses, usually the most recent 12 months’ actual expenses incurred. The calculation to determine expenses can become difficult for newly built and occupied properties. Why? There is no … [Read more...]
ValueXpress Arranges $4,500,000 CMBS Conduit Loan for the Refinance of a Hampton Inn Hotel in Santa Rosa, NM
ValueXpress has arranged a $4,500,000 CMBS conduit loan for the refinance of a 64-room Hampton Inn hotel located in Santa Rosa, New Mexico. The three-story hotel was constructed in 2008. The purpose for the loan was to convert an existing floating-rate SBA loan into a 10-year fixed rate loan at a … [Read more...]
3.26.19: Interest Rates Fall Substantially for CMBS Conduit Loans
Interest rates on CMBS conduit loans have decreased significantly in the last 30 days. Low leverage CMBS conduit loans (50%-60% LTV) are being quoted in the 4.25%-4.50% range, while full leverage (70%-75% LTV) loans are available at rates under 5.0%. Rates this low have not been available for a … [Read more...]
3.20.19: Reminder: Indicative CMBS Conduit Loan Rates Are Posted on Our Website
Want to keep abreast of interest rates for CMBS conduit loans? Then visit our website each Monday for the latest rates. The rate sheet can be found on the homepage for valuexpress.com. Every Monday by noon we post a rate sheet with current interest rates for CMBS conduit loans. The rate sheet … [Read more...]
ValueXpress Arranges $3,250,000 CMBS Conduit Loan for the Refinance of a Best Western Plus Hotel in Crawfordsville, IN
ValueXpress has arranged a $3,250,000 CMBS conduit loan for the refinance of an 81-room Best Western Plus hotel. The sponsors purchased the hotel in September 2015 from the bank in an all-cash transaction. The property was originally constructed in 2011 and operated as a Candlewood Suites until … [Read more...]
ValueXpress Arranges $3,875,000 CBMS Conduit Loan for the Purchase of 28,330-Square-Foot Neighborhood Retail Center in Naples, FL
ValueXpress has arranged a $3,875,000 CMBS conduit loan for the purchase of a 28,330-square-foot neighborhood retail center located at 7785-7795 Davis Blvd in Naples, Florida. The loan was structured with a 10-year fixed-rate loan term and a 30-year amortization schedule. The property is anchored by … [Read more...]
ValueXpress Arranges $11,000,000 CMBS Conduit Loan for the Refinance of a Hilton Garden Inn in Pascagoula, MS
ValueXpress obtained an $11-million CMBS conduit loan for the refinance of a 119-room Hilton Garden Inn located in Pascagoula, Mississippi. The 5-story property was constructed in 2014 and is the number one-rated hotel in the Pascagoula market, according to TripAdvisor. The loan refinanced a … [Read more...]
ValueXpress Arranges $8,200,000 CMBS Conduit Loan for the Purchase of a Hilton Garden Inn in Killeen, TX
ValueXpress obtained an $8,200,000 CMBS conduit loan for the purchase of a 102-room Hilton Garden Inn located in Killen, Texas. The purchaser, Vui Le, will complete a change-of-ownership Property Improvement Plan (PIP) in conjunction with a new 15-year franchise agreement with Hilton Worldwide. The … [Read more...]
ValueXpress Obtains $3.7-Million CMBS Conduit Loan for a Class A Office Building Located in Boca Raton, FL
ValueXpress obtained a $3.7-million first-mortgage loan that was utilized to refinance existing debt secured by a 25,400-square-foot multi-tenant office building located in Boca Raton, Florida. The property, constructed in 2006, is currently 87% occupied by 16 tenants, primarily local professional … [Read more...]
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