Distressed loans linked to CMBS on the rise

New York /
Jan.January 04, 2012 02:30 PM

The number of distressed loans tied to commercial mortgage-backed securities inched up last month, according to information from analytics firm Trepp, the Wall Street Journal reported. About 9.6 percent of CMBS loans tied to all types of commercial property were at least 30 days delinquent, up from 9.5 percent in November. Office properties led the pack in delinquency. The delinquency rate for offices hit 8.97 percent in December, up from 8.29 percent in September and 6.93 percent in 2010. The number of distressed loans tied to CMBS inched up last month, according to information from analytics firm Trepp, the Journal said. About 9.6 percent of CMBS loans tied to all types of commercial property were at least 30 days delinquent, up from 9.5 percent in November. Office properties led the pack in delinquency. The delinquency rate for office buildings hit 8.97 percent in December, up from 8.29 percent in September and 6.93 percent in December 2010, likely due to the nature of office leases, which typically have terms of 10 to 20 years, meaning distress can appear long after the economy first takes a hit. [WSJ]


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
159 Broadway in Brooklyn and Madison Realty Capital’s Josh Zegen (Getty, Madison Realty Capital, Stonehill & Taylor Architects)
Madison Realty’s pickup of Williamsburg hotel site tops midsize i-sales
Madison Realty’s pickup of Williamsburg hotel site tops midsize i-sales
City Council Member Robert Holden (Getty)
Bill would expose Council members’ rent-stabilized status
Bill would expose Council members’ rent-stabilized status
Meyer Orbach with One and Two Sutton Place North (CityRealty)
Meyer Orbach, Josh Gotlib close on $850M of Solow apartments
Meyer Orbach, Josh Gotlib close on $850M of Solow apartments
56 Middagh Street and 50 Bridge Park Drive #20B (Streeteasy, Quay Tower BK, Getty)
Brooklyn Heights townhouse, Quay Tower score borough’s biggest contracts
Brooklyn Heights townhouse, Quay Tower score borough’s biggest contracts
From left: Wafra’s Fawaz Al-Mubaraki and The Westover Companies’ Guntram Weissenberger with 138 East 12th Street (JLL, Getty, Wafra, The Westover Companies)
Wafra sells East Village’s The Nathaniel for $57M
Wafra sells East Village’s The Nathaniel for $57M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...