“This milestone is a testament to the resilient appeal of 1 World Trade Center to a variety of tenants, and it also signals the strength of the World Trade Center campus as tens of thousands of office workers return, making it once again the vibrant hub of Lower Manhattan,” Rick Cotton, Executive Director of PANYNJ, said in a statement. “With the façade of the Performing Arts Center now fully visible as construction advances, and with approaching completion of the St. Nicholas Greek Orthodox Church and National Shrine, the final pieces of the campus are taking shape to realize the full vision of the site, which is poised to play a key role in the city’s and the region’s economic recovery from the pandemic.”

In February 2020, Celonis signed a 7.5-year lease for 34,328 square feet on the entire 87th floor with an asking rent of $85 per square foot, Commercial Observer reported at the time. At the time, 1 World Trade Center was 85% leased and the tenant was relocating from its former headquarters at 119 West 40th Street in Midtown.

“One World Trade Center is a beautiful location for our North America headquarters,” André Heinz, Chief People and Culture Officer at Celonis, said in a statement. “The building is a point of pride for us as we continue to scale around the globe, and we love seeing the reactions from new employees, customers and partners when they visit.”

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“We had a significant amount of inquiries from clients looking to complete cash-out refinancing of their hotel properties,” commented Jay Bhakta, Senior Loan Originator at ValueXpress. “Many owners were looking to use the cash-out proceeds to complete Property Improvement Plans (PIPs) required to renew franchises. For example, some noted that it could easily cost $1-$2 million to complete the new ‘Formula Blue’ PIP required by IHG for the renewal of Holiday Inn Express franchises. CMBS conduit loans with their unrestricted cash-out provisions are ideally suited for hotel properties requiring expensive PIPs so owners do not have to come out of pocket to pay for them.”

“In addition, we had requests for portfolio loans in which the owner gets one loan secured by a portfolio of properties, consolidating a variety of local lenders into one loan, converting recourse loans into non-recourse and obtaining cash-out proceeds for additional investments,” noted Sneden.

“In one case, the owner wanted to build a new Hampton Inn property, but his local community bank wanted cash equity of 35%, or nearly $3 million, invested in the $8-million project. The owner had only $2-million cash on hand, so we are going to provide a $1-million cash-out on a Holiday Inn Express owned by the sponsor,” noted Bhakta.

To obtain competitive proposals for your next CMBS conduit loan, contact Mike Sneden at msneden@valuexpress.com, Dennis Suh at dsuh@valuexpress.com or Jay Bhakta at jbhakta@valuexpress.com.

The post 5.1.19: AAHOA Trade Show in San Diego, CA a Huge Success appeared first on VALUEXPRESS - Commercial Mortgage Loans.

Representing ValueXpress at the trade show will be Michael D. Sneden, Executive Vice President; Dennis Suh, Senior Vice President; Jay Bhakta, Senior Loan Originator and Neal Desai, Loan Originator.

“This year it’s particularly important for us to talk with our clients and potential clients,” stressed Bhakta. “We want to share how we use our 25 years of experience to deliver a smooth loan process as well as leverage our extensive Wall Street contacts to provide the best terms and structure to our clients.”

“ValueXpress is an Allied Member of AAHOA and has been exhibiting at the AAHOA Trade Show for over 20 years,” commented Sneden. “We have completed over 300 hotel loans during this period with many of those loans to AAHOA members. The trade show presents an excellent opportunity to allow hotel owners to meet personally with us to learn how we can assist them with their financing needs.”

ValueXpress welcomes the opportunity to meet with hotel owners at the trade show to explain in detail its SBA 7(a), SBA 504, USDA B&I, CMBS conduit and conventional loans for hospitality properties. Call Jay Bhakta at 601-918-2850 or email him at jayb@valuexpress.com in advance of the trade show for your personal appointment and be sure to stop by our booth (#1844) during trade shows hours.

The post 4.1.19: Meet with Jay Bhakta and the ValueXpress Team at the Annual AAHOA Convention & Trade Show in San Diego, CA – Booth 1844 appeared first on VALUEXPRESS - Commercial Mortgage Loans.

ValueXpress will be joining AAHOA Regional Director Jayesh R. Patel and the Mid-Atlantic Region Ambassadors to network and discuss current hotel financing options and trends. Representing ValueXpress at the trade show will be Michael D. Sneden, Executive Vice President, and Dennis Suh, Senior Vice President.

“It’s particularly important for us to keep in touch with our clients and potential clients on what’s available in the hotel finance market,” stressed Suh. “We want to share how we use our 25 years of experience to deliver a smooth loan process as well as leverage our extensive Wall Street contacts to provide the best terms and financing structure to our clients. The regional conferences provide an opportunity for one-on-one conversations with hotel owners to discuss their financing plans.”

“ValueXpress is an Allied Member of AAHOA and has been exhibiting at the AAHOA trade shows for over 15 years,” commented Sneden. “We have completed over 300 hotel loans during this period with many of those loans to AAHOA members. The regional trade shows present an excellent opportunity to allow hotel owners to meet personally with us to learn how we can assist them with their financing needs.”

Call Dennis Suh at 212-883-6487 or email him at dsuh@valuexpress.com in advance of the trade show for your personal appointment and be sure to stop by the ValueXpress booth during trade shows hours.

The post 8.17.18: Meet with Dennis Suh and Mike Sneden at the Mid-Atlantic Regional AAHOA Conference and Trade Show in Cherry Hill, NJ on September 6 appeared first on VALUEXPRESS - Commercial Mortgage Loans.

ValueXpress will be joining AAHOA Regional Director Jayesh R. Patel and the Northeast Region Ambassadors to network and discuss current hotel financing options and trends. Representing ValueXpress at the trade show will be Michael D. Sneden, Executive Vice President, and Dennis Suh, Senior Vice President.

“It’s particularly important for us to keep in touch with our clients and potential clients on what’s available in the hotel finance market,” stressed Suh. “We want to share how we use our 25 years of experience to deliver a smooth loan process as well as leverage our extensive Wall Street contacts to provide the best terms and financing structure to our clients. The regional conferences provide an opportunity for one-on-one conversations with hotel owners to discuss their financing plans.”

“ValueXpress is an Allied Member of AAHOA and has been exhibiting at the AAHOA trade shows for over 15 years,” commented Sneden. “We have completed over 300 hotel loans during this period with many of those loans to AAHOA members. The regional trade shows present an excellent opportunity to allow hotel owners to meet personally with us to learn how we can assist them with their financing needs.”

Call Dennis Suh at 212-883-6487 or email him at dsuh@valuexpress.com in advance of the trade show for your personal appointment and be sure to stop by the ValueXpress booth during trade shows hours.

The post 7.6.18: Meet with Dennis Suh and Mike Sneden at the Regional AAHOA Conference and Trade Show in Long Island, NY on August 7 appeared first on VALUEXPRESS - Commercial Mortgage Loans.

(L to R) Mike, Dennis and Jay at the ValueXpress Booth at the 2018 Asian American Hotel Owners Trade Show.

“We had a significant amount of inquiries from clients looking to complete cash-out refinancing of their hotel properties,” commented Jay Bhakta, Senior Loan Originator at ValueXpress. “Many owners were looking to use the cash-out proceeds to complete Property Improvement Plans (PIPs) required to renew franchises. For example, some noted that it could easily cost $1 million to complete the new ‘Formula Blue’ PIP required by IHG for the renewal of Holiday Inn Express franchises. CMBS conduit loans with their unrestricted cash-out provisions are ideally suited for hotel properties requiring expensive PIPs so owners do not have to pay out of pocket for the PIPs.”

“In addition, we had requests for portfolio loans in which the owner gets one loan secured by a portfolio of properties, consolidating a variety of local lenders into one loan, converting recourse loans into non-recourse and obtaining cash-out proceeds for additional investments,” noted Michael D. Sneden, Executive Vice President at ValueXpress.

“In one case, the owner wished to build a new Hampton Inn property, but his local community bank wanted cash equity of 35%, or nearly $3 million, invested in the $8-million project. The owner had only $2 million cash on hand, so we are going to provide a $1-million cash-out on a Holiday Inn Express owned by the sponsor,” noted Bhakta.

To obtain competitive proposals for your next CMBS conduit loan, contact Mike Sneden, Dennis Suh, or Jay Bhakta.

The post 3.30.18: AAHOA Trade Show in National Harbor, MD a Huge Success appeared first on VALUEXPRESS - Commercial Mortgage Loans.

Representing ValueXpress at the trade show will be Michael D, Sneden, Executive Vice President; Dennis Suh, Senior Vice President; Jay Bhakta, Senior Loan Originator and Neal Desai, Loan Originator.

“This year it’s particularly important for us to talk with our clients and potential clients,” stressed Bhakta. “We want to share how we use our 25 years of experience to deliver a smooth loan process as well as leverage our extensive Wall Street contacts to provide the best terms and structure to our clients.”

“ValueXpress is an Allied Member of AAHOA and has been exhibiting at the AAHOA Trade Show for over 15 years,” commented Sneden. “We have completed over 300 hotel loans during this period with many of those loans to AAHOA members. The trade show presents an excellent opportunity to allow hotel owners to meet personally with us to learn how we can assist them with their financing needs.”

ValueXpress welcomes the opportunity to meet with hotel owners at the trade show to explain in detail its SBA 7(a), SBA 504, USDA B&I, CMBS conduit and conventional loans for hospitality properties. Call Jay Bhakta at 601-918-2850 or email him at jayb@valuexpress.com in advance of the trade show for your personal appointment and be sure to stop by our booth (#727) during trade shows hours.

The post 2.16.18: Meet with Jay Bhakta and the ValueXpress Team at the Annual AAHOA Convention & Trade Show in National Harbor, MD – Booth #727 appeared first on VALUEXPRESS - Commercial Mortgage Loans.

Back by popular demand this year are Roundtable Discussions. These lively sessions always occur in front of a packed audience. The two Roundtable Discussions to be held in Las Vegas will offer a wide variety of topics — educational on Wednesday and exhibitor products and services on Thursday.

Dennis will be meeting with clients to discuss the benefits of CMBS conduit loans for self-storage owners during the conference. Self-storage loans have been one of the best performing asset classes in CMBS, and CMBS conduit loans for self-storage are highly sought after. As with all eligible asset classes, the CMBS conduit loan program provides for unrestricted cash out for any purpose on a refinance, and all CMBS conduit loans are non-recourse, meaning there are no personal guarantees for repayment of the loan.

“The self-storage industry continues to grow rapidly, and owners want to continue to build more units to satisfy demand,” commented Dennis. “CMBS conduit loans are really the only loan product that allows for unrestricted cash out that can be used as equity to obtain a construction loan to build additional self-storage facilities.” To visit with Dennis at the show, send him an email at dsuh@valuexpress.com or call him at 212-883-6487.

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ValueXpress Booth 1141 at the 2017 Asian American Hotel Owners Trade Show.

“We had a significant amount of inquiries from clients looking to complete cash-out refinancing of their hotel properties,” commented Jay Bhakta, Senior Loan Originator at ValueXpress. “Many owners were looking to use the cash-out proceeds to complete Property Improvement Plans (PIPs) required to renew franchises. For example, some noted that it could easily cost $1 million to complete the new ‘Formula Blue’ PIP required by IHG for the renewal of Holiday Inn Express franchises. CMBS conduit loans with their unrestricted cash-out provisions are ideally suited for hotel properties requiring expensive PIPs so owners do not have to come out of pocket to pay for the PIPs.”

“In addition, we had requests for portfolio loans in which the owner gets one loan secured by a portfolio of properties, consolidating a variety of local lenders into one loan, converting recourse loans into non-recourse and obtaining cash-out proceeds for additional investments,” noted Michael D. Sneden, Executive Vice President at ValueXpress.

“In one case, the owner wished to build a new Hampton Inn property, but his local community bank wanted cash equity of 35%, or nearly $3 million, invested in the $8-million project. The owner had only $2 million cash on hand, so we are going to provide a $1-million cash-out on a Holiday Inn Express owned by the sponsor,” noted Bhakta.

The post 4.13.17: AAHOA Trade Show in San Antonio, TX a Huge Success appeared first on VALUEXPRESS - Commercial Mortgage Loans.

“ValueXpress is an Allied Member of AAHOA and has been exhibiting at the AAHOA Trade Show for over 15 years,” commented Michael D. Sneden, Executive Vice President at ValueXpress. “We have completed over 300 hotel loans during this period with many of those loans to AAHOA members. The trade show presents an excellent opportunity to allow hotel owners to meet personally with us to learn how we can assist them with their financing needs.”

Representing ValueXpress at the trade show will be Michael D, Sneden, Executive Vice President, Dennis Suh, Vice President, and Jay Bhakta, Senior Loan Originator. “This year it’s particularly important for us to talk with our clients and potential clients,” stressed Jay. “We want to share how we use our 25 years of experience to deliver a smooth loan process as well as leverage our extensive Wall Street contacts to provide the best terms and structure to our clients.”

ValueXpress welcomes the opportunity to meet with hotel owners at the trade show to explain in detail its SBA 7(a), SBA 504, USDA B&I, CMBS conduit and conventional loans for hospitality properties. Call Jay Bhakta at 601-918-2850 for your personal appointment and be sure to stop by our booth (#1141) during trade shows hours.

The post 3.13.17: ValueXpress Exhibiting at AAHOA Annual Convention and Trade Show in San Antonio, TX appeared first on VALUEXPRESS - Commercial Mortgage Loans.