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Monthly Archives: June 2011
6.18.11: AAHOA Report: Debt Available for Hotel Owners
Hotel owners who attended the recent Asian-American Hotel Owners (AAHOA) Convention and Trade Show in Las Vegas, NV were encouraged by the improvement noted in room sales in late 2010 and 2011 to date after poor business conditions resulted in … Continue reading
6.17.11: Subhash Shah Wins IPAD 2 Drawing at AAHOA
Hotel owner Subhash (Sam) Shah was the winner of a new 32GB IPAD 2 at the ValueXpress booth at the Asian-American Hotel Owners (AAHOA) Convention and Trade Show in Las Vegas, NV last week. When we first contacted Mr. Shah … Continue reading
6.10.11: Tighter Spreads Expected on Upcoming Conduit Deal
The senior spreads on a $2.1-billion CMBS offering by UBS, Deutsche Bank and Ladder Capital are shaping up to be slightly tighter than those on another multi-borrower issue that priced last week. The second offering of the year from this … Continue reading
ValueXpress Obtains $2.85-Million Loan Commitment for a Hampton Inn Limited Service Hotel in Killeen, TX
ValueXpress obtained a $2.85-million first-mortgage loan commitment with a Texas banking partner, Herring Bank, for a 3-story, 62-room interior corridor limited service hotel built in 1999 on a 1.5-acre site in Killeen, Bell County, TX. The property is franchised as … Continue reading
6.2.11: CMBS Delinquencies Drop to 9.6% in May
The U.S. commercial mortgage-backed securities (CMBS) delinquency rate fell in May to 9.6% for loans 30 or more days delinquent, in foreclosure or REO, according to Trepp LLC, New York. Despite a 5-basis-point (bp) decline, it represented the biggest rate … Continue reading
5.31.11: Growing SBA 504 Secondary Market
According to Jordan Blanchard at CDC Direct, May was a very active month for SBA 504 First Mortgage Pool (FMP) originators. Four pools settled a total of just over $18 million (guaranteed portion). Total 504 FMP volume through May 2011 … Continue reading
5.27.11: S&P Identifies Troubling Trends in New CMBS
Increasingly aggressive property appraisals, so-called “incentive management fees” for hotel properties, and the limited return of “pro forma” underwriting are among the troubling trends that Standard & Poor’s (S&P) cites as red flags in the quickly evolving revival of the … Continue reading
ValueXpress Obtains $11-Million Commitment to Refinance a Franchised Limited Service Hotel at Liberty International Airport, Newark, NJ
ValueXpress obtained an $11-million first-mortgage loan commitment from a CMBS conduit lender to refinance a 162-room interior corridor limited service hotel constructed in 2002. The hotel is located in immediate proximity to Liberty International Airport in Newark, New Jersey. The … Continue reading