The Trepp CMBS Special Servicing Rate increased another 34 basis points to 9.14% in October 2024. Over the past six months, the rate has increased by just over 100 bps, with the October figure reflecting the 10th consecutive monthly increase, according to…
The Trepp CMBS Delinquency Rate continued its upward trend in October 2024, increasing 28 basis points to 5.98%. Year over year, it’s up 135 bps. In October, all major commercial property types saw monthly delinquency rate decreases or remained unchanged, with the exception…
Tishman Speyer said Friday it had refinanced the Rockefeller Center campus via a $3.5-billion CMBS loan. Reportedly it’s the largest CMBS issuance ever for a single office asset. Bank of America and Wells Fargo served as co-lead managers on the…
Trepp reported an increase in CMBS loan losses for September, when $252.5 million across 15 loans were resolved with $139.5 million in losses total, carrying an average loss severity of 55.26% for the month. That compared to $47.2 million of loan losses in August. The…
The Trepp CMBS Special Servicing Rate rose 33 basis points to 8.79% in September. This was the ninth consecutive monthly increase and the second-largest uptick of 2024, the firm reported. Distress was consistent throughout, with the respective special servicing rates of the…
Driven by the retail sector, the Trepp CMBS Delinquency Rate continued its uphill climb in September 2024, rising 26 basis points to 5.70%. Although most of the major property types contributed to the rise in the overall rate, retail contributed to about…
Kroll Bond Rating Agency said the delinquency rate among KBRA-rated U.S. CMBS in August declined marginally to 4.98%, down 11 basis points from July. However, the CMBS distress rate–the total delinquent and specially serviced loan rate–increased 32 bps to 8.36%….
Large-scale loans helped drive significant credit changes in newly delinquent loans, cured loans and modified loans during July, Trepp reported. For example, the office CMBS delinquency rate rose 54 basis points last month to 8.09%, with a single loan–the $670-million…
After a 60% drop in effectuated appraisal reduction amounts (ARAs) on CMBS loans in 2022, ARAs climbed in 2023 and 2024 as delinquencies increased 84%, Kroll Bond Rating Agency reported. ARAs totaling $1 billion (98 loans) were effectuated during full-year 2023, while the year-to-date…
The Trepp CMBS Special Servicing Rate ticked up slightly in June, rising two basis points to 8.23%. Although the monthly increase was minimal, Trepp noted that it represents the sixth consecutive monthly increase. Prior to the COVID-19 pandemic, the last…
End of content
End of content
