In November 2015, Walgreens entered into a contract to buy Rite Aid for $17 billion. The transaction is being reviewed by regulators as the combination of the nation’s number one and number three drugstore chains could be anti-competitive. Walgreens has indicated it has buyers lined up for unwanted … [Read more...] about 5.10.16: Walgreens and Rite Aid Merger CMBS Underwriting Considerations
6.4.14: Relaxed CMBS Conduit Underwriting Benefits Borrowers
Lower underwriting standards and competition for CMBS conduit loan are helping borrowers in many ways to lower transaction costs. Here are some interesting trends. - Fixed-fee CMBS conduit loan programs (see our 6.13.14 news comment "ValueXpress to Offer Fixed-Fee CMBS Program") feature streamlined … [Read more...] about 6.4.14: Relaxed CMBS Conduit Underwriting Benefits Borrowers
2.13.14: Wells Research Supports Weaker Underwriting Metrics in CMBS Loans
Jim Brett, head of CMBS analytics at ValueXpress, was recently lamenting, “Mike, I feel like the CMBS deals are more aggressive than last year. The underwriting and asset quality just doesn’t feel as good, except for a deal here and there. If I looked at the trailing credit metrics, I wonder what I … [Read more...] about 2.13.14: Wells Research Supports Weaker Underwriting Metrics in CMBS Loans
9.28.12: A Quick Look at New Issue CMBS Loan Underwriting
According to research by CS First Boston, one concern about the increasing rate of CMBS issuance is that the quality of underwriting has deteriorated quickly, as originators stretch in terms of credit quality, in order to increase the volume of loans coming to the market. With this in mind, CS First … [Read more...] about 9.28.12: A Quick Look at New Issue CMBS Loan Underwriting
4.19.11: Underwriting on CMBS Loans Loosens as Cautious Optimism Hits
Underwriting on CMBS loans is loosening as originators compete for more business in a sector that's starting to heat up again. "The first transactions to emerge from CMBS 2.0 were very conservative in most facets, benefiting an industry emerging from a very stressful period," said Huxley Somerville, … [Read more...] about 4.19.11: Underwriting on CMBS Loans Loosens as Cautious Optimism Hits
2.1.10: FHA Changes to Multifamily Underwriting Draw Industry Concern
FHA multifamily lenders expressed concern after listening to HUD's proposed guidelines to tighten its underwriting. At the Mortgage Bankers Association's Commercial Real Estate Finance/Multifamily Housing Convention & Expo, Carol Galante, deputy assistant secretary for multifamily housing at … [Read more...] about 2.1.10: FHA Changes to Multifamily Underwriting Draw Industry Concern
