The global threat from the coronavirus pandemic will eventually pass and hard-hit hoteliers will begin to see occupancies rise. Green shoots are sprouting for certain markets, primarily drive-to beach locations, budget hotels and smaller, limited service interstate highway properties. Hotels that … [Read more...]
12.5.19: CARLSBAD, NM HOTEL MARKET POWERED BY THE DELAWARE BASIN
Carlsbad, New Mexico is located 150 miles northeast of El Paso, Texas, in the southeastern section of New Mexico. It is well known as the gateway to the vast, bat-filled caves of Carlsbad Caverns National Park. But what’s really happening in Carlsbad involves oil and gas exploration and … [Read more...]
7.1.19: How to Pre-Qualify a Hotel for a CMBS Conduit Loan: An Update
In November, we explained how to pre-qualify a hotel for a CMBS conduit loan. We have received many positive comments on how useful our process is. Now? We are adding an additional test to the process. The test involves a limit to the maximum loan amount for certain franchises. Step 1: Is the … [Read more...]
ValueXpress Arranges a $6.2-Million CMBS Conduit Loan for the Refinance of a 69-Room Best Western Hotel in Houston, TX
ValueXpress has arranged a $6.2-million CMBS conduit loan for the refinance of a Best Western Hotel constructed in 2002. The three-story property is located near the Galleria section of Houston, Texas. The subject property was acquired by Fountainview BW, LLC in August 2014. The property was … [Read more...]
5.7.19: ValueXpress Refinancing SBA 7(a) Hotel Loans with CMBS Loans
The SBA 7(a) loan guarantee program allows commercial banks to make loans on owner-occupied commercial real estate that would otherwise be considered too risky. Hotels are considered particularly risky by many commercial banks. Most limited service hotels are owner-operated and qualify for SBA … [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...]
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 $9,000,000 Community Bank Loan to Refinance a 103-Room Wingate by Wyndham Hotel Located Near JFK Airport
ValueXpress obtained a $9,000,000 community bank loan to refinance a construction loan that was utilized to construct a 6-story, 103-room Wingate by Wyndham hotel located minutes from John F. Kennedy (JFK) airport. This transaction is the second closing completed by ValueXpress for this client. The … [Read more...]
ValueXpress Arranges $3.2-Million CMBS Conduit Loan for the Refinance of a 55-Room Best Western Hotel in Lake Charles, LA
ValueXpress has arranged a $3.2-million CMBS conduit loan for the refinance of the Best Western Bayou Inn & Suites hotel that was constructed in 2000. The two-story property is located off Interstate 10 at Exit 33 in Lake Charles, Louisiana. Lake Charles has grown with the onset of the … [Read more...]
11.23.18: How to Pre-Qualify a Hotel for a CMBS Conduit Loan
ValueXpress has completed over 200 hotel loan closings, more than 80% of which are fixed-rate, non-recourse CMBS conduit loans. To be most efficient, ValueXpress has developed a simple prequalification decision tree to determine if a hotel qualifies for a CMBS conduit loan. Step 1: Is the hotel … [Read more...]