CMBS delinquencies hit record high: Trepp

Miami /
Sep.September 07, 2010 12:45 PM
(source: Trepp)

After two months of improvement, the delinquency rate in the U.S. commercial mortgage-backed securities market shot up 21 basis points in August to the highest level in the history of the CMBS industry, dating back to the early 1990s, according to Trepp’s latest monthly delinquency report (see the full report below). The overall CMBS delinquency rate in August was 8.92 percent nationwide, which includes loans that are 30 or more days delinquent, in foreclosure or bank-owned. Meanwhile, seriously delinquent loans — those that are at least 60 days delinquent — also saw a 20-basis-point spike. The overall acceleration in souring loans follows lesser increases of 12 basis points in July and 17 basis points in June, which had sparked hopes about the possibility of a recovery. But the August data signals that, in fact, the worst may not yet be over for commercial real estate, Trepp said. Hotels fared worst of all property types during the month, up 51 basis points to an 18.92 percent delinquency rate. Meanwhile, retail was the only segment of the real estate market to improve, with its delinquency rate declining 14 basis points to 6.76 percent. TRD

Treppwire September 2010

 

Related Articles

arrow_forward_ios
Mallory Kauderer and 5501 Northeast Second Avenue (The Porosoff Group, Twitter, Getty)
Churchill’s Pub in Little Haiti hits market
Churchill’s Pub in Little Haiti hits market
Joseph Chetrit and The Tides South Beach (Getty, The Tides South Beach)
Chetrit’s lender scores victory in South Beach hotel foreclosure
Chetrit’s lender scores victory in South Beach hotel foreclosure
Moto Capital Group's Marcos Lima with 350 Ocean Drive (Loopnet, LinkedIn, Getty)
Toronto firm picks up Ocean Drive hotel for $39M
Toronto firm picks up Ocean Drive hotel for $39M
Metronomic's Kelly Beam with 3265 Bird Avenue (Metronomic Holdings, Google Maps)
Embattled developer’s Coconut Grove rentals head to auction
Embattled developer’s Coconut Grove rentals head to auction
8000 West Broward Boulevard, Mall
Lender pays $43M for Broward Mall in foreclosure auction
Lender pays $43M for Broward Mall in foreclosure auction
A rendering of the project + a Google street view of the building at 3034 Oak Avenue and  (L-R) Developers Nick Hamann and Jeremy Wacks, with Douglas Elliman’s Jay Parker (Google Maps)
Lender seeks foreclosure of stalled Arbor Coconut Grove project
Lender seeks foreclosure of stalled Arbor Coconut Grove project
Terreno Realty's W. Blake Baird with 8050 Northwest 90th Street (LinkedIn, Google Maps)
Lender sells foreclosed aviation maintenance site in Medley for $20M
Lender sells foreclosed aviation maintenance site in Medley for $20M
Renderings of new Miami Collective site with Gamma Real Estate’s Jonathan Kalikow (The Collective, Gamma Real Estate)
Lender takes control of The Collective’s Wynwood dev site through foreclosure auction
Lender takes control of The Collective’s Wynwood dev site through foreclosure auction
arrow_forward_ios

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

Loading...