Category Archives: CMBS Securities

11.5.17: Sears and Kmart: More Stores to Close

Sears Holdings Co. announced that it will close another 18 Sears stores and 45 Kmart locations in late January 2018. This round of closures brings the total number of Sears and Kmart stores shutting down this year to 243. After … Continue reading

Posted in CMBS, CMBS Conduit Loans, CMBS Securities, Commercial Lending, Commercial Mortgage-Backed Securities, Commercial Real Estate Loans, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress | Tagged , , | Leave a comment

10.27.17: Great Rates for Borrowers as CMBS Spreads Approach Post-Crash Low

A current rally has pushed the long-term super-senior AAA-rated CMBS bonds near the lowest levels that prevailed before the financial crisis in 2008-2009. On Friday, Morgan Stanley, Bank of America and Wells Fargo priced the super-senior CMBS from a $944-million … Continue reading

Posted in CMBS, CMBS Securities, Commercial Lending, Commercial Mortgage-Backed Securities, Commercial Real Estate Loans, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress | Tagged , , | Leave a comment

9.25.17: ValueXpress Is Refreshing Its Website

ValueXpress is updating its website to incorporate advances in technology since we first launched our website in 2006. The current website has won awards for its graphics and we have updated it piecemeal over time, but it’s time for a … Continue reading

Posted in CMBS Conduit Loans, CMBS Securities, Commercial Lending, Commercial Real Estate Loans, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress | Tagged , , , | Leave a comment

9.12.17: CMBS Conduit Loan Rates Stable as CMBS Spreads Remain Steady

CMBS conduit loan borrowers are finding calm waters as spreads on CMBS securities have been stable at attractive levels for most of 2017 to date. In addition, the 10-year Swap rate, the benchmark index for setting interest rates on CMBS … Continue reading

Posted in CMBS, CMBS Conduit Loans, CMBS Securities, Commercial Lending, Commercial Mortgage-Backed Securities, Commercial Real Estate Loans, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress | Tagged , , | Leave a comment

9.1.17: CBRE Reports on Cap Rates at Mid-Year

CBRE recently published its survey of capitalization rates (“cap rates”) for income producing commercial real estate (retail, office, industrial, multifamily and hotel) as of June 30, 2017. CBRE notes that cap rates were little changed in the first half of … Continue reading

Posted in CMBS, CMBS Conduit Loans, CMBS Securities, Commercial Lending, Commercial Real Estate Loans, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress | Tagged , | Leave a comment

7.7.17: Pace of CMBS Conduit Loan Originations on Par with a Year Earlier

CMBS conduit loan originations at midyear are on pace with a year earlier, as measured by CMBS securities issuance. CMBS conduit issuance as of June 30, 2017 totaled $38.8 billion compared with $30.7 billion a year earlier. After a slow … Continue reading

Posted in CMBS, CMBS Conduit Loans, CMBS Securities, Commercial Lending, Commercial Mortgage-Backed Securities, Commercial Real Estate Loans, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress | Tagged , , | Leave a comment

7.3.17: Gross Profit Margins Now Transparent for CMBS Issues

Risk-retention rules have made the accurate calculation of gross profit margins for CMBS issues possible. Although the results do not include transaction expenses, the gross profit indications are more accurate than previous methods to “reverse engineer” the pricing results of … Continue reading

Posted in CMBS, CMBS Securities, Commercial Mortgage-Backed Securities, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress | Tagged , | Leave a comment