Many commercial real estate owners have become very wealthy from purchasing underperforming income-producing real estate assets and completing a “value-add” program to increase the value of the property. Once the value-add is completed, the owner sells or refinances the property for much more than … [Read more...]
12.2.19: REMEMBER: INTEREST-ONLY LOANS ARE AVAILABLE IN CMBS!
Unlike many commercial loan programs, CMBS conduit loans can provide for partial interest-only loan payments as well as full-term, interest-only loan payments for lower leverage loans. This structure provides higher cash flow after debt service to the sponsor, and it can be particularly useful in … [Read more...]
10.15.19: 25-YEAR SBA 504 LOANS ARE A BIG HIT
In April 2018, the U.S. Small Business Administration (SBA) made available 504 loans with a 25-year maturity. The self-amortizing loan complimented the 10- and 20-year 504 loans that were available at the time. By expanding the 504 options to include a 25-year loan, SBA expected that the longer 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...]
6.25.19: Manufactured Housing Loans with an RV Component Okay in CMBS
Manufactured Housing Community loans are extremely popular in CMBS. Manufactured Housing Communities (MHCs) are developments in which the landlord leases land “lots” to tenants who then buy or build a manufactured home on the lot. The tenant pays monthly rent to the landlord for the lot. Sometimes … [Read more...]
5.27.19: Are Cannabis Tenants Allowed in CMBS Loans?
In the United States, the use and possession of cannabis is illegal under federal law. At the state level, however, policies regarding medical and recreational use of cannabis vary greatly, and in many states, policies conflict significantly with federal law. The medical use of cannabis is legal … [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...]
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...]
12.4.18: ValueXpress Is Your “Go-To” Source for Small Balance CMBS Conduit Loans
Most CMBS conduit loan programs start at $5 million. A few will consider $3 million. But ValueXpress can provide CMBS conduit loans as low as $1.5 million. A few examples of recently closed small balance CMBS conduit loans can be found here and here. How is ValueXpress able to provide small balance … [Read more...]
4.27.18: CMBS Remains Best Solution for Retail Loans
Struggling retailers have lenders reassessing the risk of retail loans. Over the past two years, poor retail sales have resulted in a slew of store closures and bankruptcies. It seems that not a month goes by without more bad news, most recently the closing of the Bon-Ton department store chain, … [Read more...]
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