Research - JANUARY 6, 2016

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CMBS delinquency rate ends year a little higher

by Zoë Wolff

In a reversal following three consecutive months of improvement, the CMBS delinquency rate increased by 4 basis points to 5.17 percent in December 2015, according to Trepp. The rate is now 58 basis points lower than the 2014 year-end level of 5.75 percent.

There were $1.6 billion of newly delinquent loans in December, while $1.1 billion in previously delinquent loans were paid off at par or with a loss, and approximately $450 million in loans cured. The percentage of seriously delinquent loans fell 2 basis points to 5.0 percent. There is currently $26.4 billion in delinquent loans.

The delinquency rate for industrial property loans had the greatest drop, decreasing 26 basis points to 5.73 percent. Office property loan delinquency increased by 6 basis points to 5.79 percent, and retail property loan delinquency rose 12 basis points to 5.76 percent. Multifamily property loans have the worst delinquency rate among the five property types at 8.28 percent. Lodging

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