Monthly Archives: August 2014

8.22.14: Big September Pipeline to Test CMBS Spreads

Super-senior AAA-rated CMBS spreads retreated from recent highs of 90 basis points (bp) seen when a $1.2-billion offering by Cantor Commercial Real Estate, Deutsche Bank, Ladder Capital and Nataxis priced on August 13. Super-senior AAA-rated CMBS are currently trading in … Continue reading

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8.15.14: CMBS Delinquency Posts Small Decline in July

The CMBS delinquency rate for U.S. commercial real estate loans in CMBS declined a fraction in July, to 6.04%, barely extending a 14-month month-over-month decline, according to Trepp. Loan resolutions totaled just over $600 million, one of the lowest monthly … Continue reading

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8.12.14: CBRE Acquires PKF Consulting USA

Looking to become a dominant force within the lodging industry in both valuations and strategic advisory services, CBRE Group, Inc. recently acquired PKF Consulting USA, LLC (PKFC), a hotel advisory, consulting and research firm. Headquartered in San Francisco, California, PKFC … Continue reading

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ValueXpress Obtains $6.8-Million CMBS Conduit Loan for a Portfolio of 3 Multifamily Properties Located in Augusta and Greenville, SC

ValueXpress obtained a $6.8-million first-mortgage loan that was utilized to refinance existing debt and provide cash-out proceeds secured by a portfolio of three multifamily properties located in Augusta and Greenville, South Carolina: Willow Wick Apartments, Pine Crest Apartments and Broadway … Continue reading

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8.8.14: CMBS Rally Stops Dead in Its Tracks; Spreads Blow Out

After super-senior AAA-rated CMBS spreads declined to a post-crash low of 71 basis points (bp) in mid-July, spreads surged in the first week of August. On August 6, JP Morgan, Barclays, Starwood and GE Capital priced the super-senior AAA-rated CMBS … Continue reading

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8.5.14: Corpus Christi Economy Continues to Sparkle

HVS, a market leader in hospitality consulting and valuation, recently reported on the Corpus Christi, Texas economic climate. The report highlighted the following: Corpus Christi’s economy continues to sparkle, with ongoing developments in the tourism, energy, and shipping industries, as … Continue reading

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7.29.14: Predatory ADA Litigation of Major Concern for Hoteliers

We recently closed a $5-million hotel loan secured by a Hampton Inn in Florida. During property diligence, we noticed a $25,000 legal fee under the “professional expense” category on the profit and loss statement. Since we figured it was a … Continue reading

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