ValueXpress has arranged a $9,000,000 CMBS conduit loan for the refinance of Tally Ho Shopping Center, a 25,100-square-foot neighborhood shopping center anchored by a Bank of America banking center that is leased until 2030. The property is located at the corner of Naamans Road and Concord Pike 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...]
ValueXpress Obtains $1,775,000 CMBS Conduit Loan for the Refinance of a 33,100-Square-Foot Neighborhood Retail Center Located in Kenmore (Buffalo), NY
ValueXpress obtained a $1,775,000 CMBS conduit loan for a prominent developer in Buffalo, New York that provided approximately $375,000 in cash-out proceeds to provide equity for additional real estate projects. The loan is secured by 4 commercial retail buildings leased to 18 tenants. The property, … [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...]
ValueXpress Obtains $5.5-Million CMBS Conduit Loan for the Refinance of a 78-Room Hampton Inn & Suites in Richland, MS
ValueXpress has arranged a $5,500,000 CMBS conduit loan for the refinance of a four-story Hampton Inn hotel constructed in 2015. The loan provided an opportunity to pay off an existing SBA 504 loan and some additional high-cost construction debt. The new loan features a lower monthly payment based … [Read more...]
ValueXpress Obtains $6.1-Million CMBS Conduit Loan for a 9-Building Industrial Park Located in Naples, FL
ValueXpress obtained a $6.1-million first-mortgage loan that was utilized to refinance existing debt secured by an 118,300-square-foot, 9-building warehouse facility located in the Naples, Florida Metropolitan Statistical Area. The property is currently 100% occupied by 21 tenants. The buildings … [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...]
ValueXpress Arranges $3.85-Million CMBS Conduit Loan for the Refinance of a 69-Room Comfort Inn Located in Camden, AR
ValueXpress has arranged a $3.85-million CMBS conduit loan for the refinance of a three-story Comfort Inn hotel constructed in 2000. The hotel is located in Camden, Arkansas. The subject hotel was purchased in October 2014 and had not been significantly upgraded since that time. It was … [Read more...]
9.23.19: How and When Is the Interest Rate Set on a CMBS Conduit Loan – A Refresher
Here are the specifics on how the interest rate is fixed on a CMBS conduit loan: In the loan Term Sheet, under Interest Rate, the provision indicates that the interest rate will be set by adding the loan “spread” (expressed in basis points; i.e., “250 basis points”) to the Swap Rate with same term … [Read more...]
9.4.19: CMBS Conduit Loans Filling Fannie/Freddie Gap for Multifamily
After acquiring multi-family loans at a record-breaking pace over the first seven months of the year, Fannie Mae and Freddie Mac have sharply pulled back in recent weeks, opening lending opportunities for others, including CMBS lenders, according to Commercial Mortgage Alert (CMA).CMA notes that … [Read more...]
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