3.21.14: AAHOA Trade Show Featuring “Deal Central” an Enormous Success

The ValueXpress booth was bustling with activity on March 20-21, 2014 at the annual Asian American Hotel Owners Association (AAHOA) Trade Show in Philadelphia, Pennsylvania. Over 3,000 attendees visited the trade show held at the Pennsylvania Convention Center.
 “Again this year as last year, the top loan product sought by hoteliers was CMBS conduit loans. With hotel performance improving at a rapid pace, and CMBS conduit loans the only realistic program with unrestricted cash out, interest was very high,” said Michael D. Sneden, Executive Vice President at ValueXpress. “We were sizing loans on the spot and issuing term sheets from our booth and during Deal Central. Borrowers were amazed at the potential cash proceeds in their pocket after paying off existing debt.”

ValueXpress was one of a few select sponsors invited to participate in Deal Central, an evening of intense deal making in a casual setting that featured excellent food and cocktails.

“My clients were impressed by the competitive rates for CMBS conduit loans,” noted Jay Bhakta, a Senior Loan Originator with ValueXpress who covers the southeast U.S. market that includes Texas. “With rates in the 5.0%-5.5% area, my clients can take cash out and yet have the same payment because of the lower interest rate and longer 25-year amortization schedule.”

Most clients use the cash-out proceeds to grow their businesses by building or buying other hotel assets. “One of my clients was able to obtain a construction loan from a bank requiring 50% equity by using the cash-out proceeds from a CMBS conduit loan as the equity contribution for a new hotel project,” Bhakta said.

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This entry was posted in AAHOA, CMBS, CMBS Conduit Loans, Commercial Real Estate Loans, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress and tagged , , , , , , , . Bookmark the permalink.

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