ValueXpress recently closed an $8.2-million CMBS conduit loan for the purchase of the Hilton Garden Inn located in Killeen, Texas. The property was constructed in 2007 and is in good condition. However, the Property Condition Assessment noted evidence of mold on the stucco façade of the hotel and on … [Read more...] about 12.7.18: Watch Out for Mold When Applying for a CMBS Conduit Loan!
ValueXpress has now completed over 200 CMBS conduit loans for hotels. We have financed every hotel brand in the United States! The most popular brands for refinance for us are Holiday Inn Express and Hampton Inn. Many of our hotel clients use the “cash-out” feature of CMBS conduit loans to finance … [Read more...] about 9.22.18: Hoteliers, Watch Your Alignment
In its February CMBS Trend Watch, Kroll Bond Rating Agency (KBRA) notes that 2017 continued its sluggish start with $3.8 billion of CMBS securities priced in February. Year-to-date volume is down 48.5% from a year earlier and is the lowest it has been since 2012. However, KBRA notes that based on … [Read more...] about 2.28.17: Kroll Releases February CMBS Trend Watch
Kroll Bond Rating Agency (KBRA) released this month’s CMBS Trend Watch. In the August edition, we note that $4.2 billion of private-label issuance priced, bringing the year-to-date total to $37.3 billion, down 45% year over year. We expect September to be a busy month in terms of deal issuance, as … [Read more...] about 8.31.16: Kroll Releases August CMBS Trend Watch
This week we received calls from two of our borrowers who were shocked when they received cash management trigger notices from their loan servicers. One noted that the property had just completed a 12-month period in which the property had the highest profit in its history. He said, “What’s going on … [Read more...] about 7.18.16: Watch for Trigger Events
We recently were delayed in closing a number of hotel loans due to a recurring issue. Often hoteliers, primarily those involved in the construction of smaller (less than $10 million) limited-service hotels, obtain their franchise agreement well in advance of property construction. This secures a … [Read more...] about 9.10.14: Watch Your Alignment!
Many lenders struggle with reporting their loans to SBA via the Fiscal Transfer Agent, Colson Services. Often, lenders with dedicated SBA departments can handle the responsibilities without much difficulty, but lenders that are only semi-active in SBA lending are sometimes not up to speed on SBA … [Read more...] about 5.7.10: Watch your Ps and Qs and SBA 1502s